TECO Energy Inc. is an energy-related holding company based in Tampa, Florida, providing electricity to the greater Tampa area and central Florida, and natural gas throughout the state of Florida through its subsidiaries Tampa Electric Company and Peoples Gas Company respectively. Another subsidiary, TECO Services, Inc., provides IT, HR, legal, facilities, and other common services to Tampa Electric, Peoples Gas, and former TECO subsidiary New Mexico Gas Company. On September 4, 2015, Emera, a utility holding company based in Halifax, Nova Scotia, Canada, announced the pending acquisition of TECO Energy. That purchase closed on July 1, 2016, and TECO Energy, Inc. is now a wholly owned subsidiary of Emera, Inc.
In 2000, TECO Energy was fined $3.5 million for making changes to emissions producing facilities without installing new updated pollution controls. This led to the switch from coal to natural gas in one of its plants by 2004 and optimization of pollution controls in another. These changes were enacted to drastically cut emissions, notably sulfur dioxide and nitrogen oxide emissions.
TECO Energy completed a $330 million emissions control project in 2010, which its Big Bend Power Station one of the cleanest coal-fired power plants in the nation. The renovation reduced nitrogen oxide emissions at the plant by approximately 91 percent from levels recorded in 1998.
Since 1998, TECO has invested $1.2 billion in improvements to the company's systems, including the re-powering of the previously coal-fired Bayside Power Station to natural gas and the addition of pollution controls on a second, reducing sulfur dioxide and nitrogen oxide emissions by more than 91 percent and carbon dioxide levels by 20 percent from 1998 levels.
On September 28, 2017, TECO announced it was adding 600 MW of solar to its electricity-producing portfolio.