Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2015

A summary of the face amount or maximum theoretical obligation and the year of expiration under letters of credit and guarantees as of June 30, 2015 is as follows:


(millions)	Year of expiration						Maximum
					After ⁽¹⁾		Theoretical		Liabilities Recognized
Guarantees for the Benefit of:	2015		2016-2019		2019		Obligation		at June 30, 2015 ⁽²⁾
TECO Energy
Fuel sales and transportation	$	0.0	$	0.0	$	92.9	$	92.9	$	0.0

							Maximum
(millions)					After ⁽¹⁾		Theoretical		Liabilities Recognized
Letters of Credit for the Benefit of:	2015		2016-2019		2019		Obligation		at June 30, 2015 ⁽³⁾
TEC	$	0.0	$	0.0	$	0.6	$	0.6	$	0.1
NMGC	$	0.0	$	0.0	$	1.7	$	1.7	$	0.0

(1) These letters of credit and guarantees renew annually and are shown on the basis that they will continue to renew beyond 2019.
(2) The amounts shown represent the maximum theoretical amounts of cash collateral that TECO Energy would be required to post in the event of a downgrade below investment grade for its long term debt ratings by the major credit rating agencies. Liabilities recognized represent the associated potential obligation related to net derivative liabilities under these agreements at June 30, 2015. See Note 12 for additional information.
(3) The amounts shown are the maximum theoretical amounts guaranteed under current agreements. Liabilities recognized represent the associated obligation of TECO Energy, TEC or NMGC under these agreements at June 30, 2015. The obligations under these letters of credit include certain accrued injuries and damages when a letter of credit covers the failure to pay these claims.

Tampa Electric Company [Member]

Letters of Credit and Guarantees

A summary of the face amount or maximum theoretical obligation under TEC’s letters of credit as of June 30, 2015 is as follows:

Letters of Credit - Tampa Electric Company
(millions)					After ⁽¹⁾				Liabilities Recognized
Letters of Credit for the Benefit of:	2015		2016-2019		2019		Total		at June 30, 2015
TEC ⁽²⁾	$	0.0	$	0.0	$	0.6	$	0.6	$	0.1

(1) These letters of credit renew annually and are shown on the basis that they will continue to renew beyond 2019.
(2) The amounts shown are the maximum theoretical amounts guaranteed under current agreements. Liabilities recognized represent the associated obligation under these agreements at June 30, 2015. The obligations under these letters of credit include certain accrued injuries and damages when a letter of credit covers the failure to pay these claims.