Tampa ElectricTampa Electric’s net income for the fourth quarter was $36.2 million, compared with $37.7 million for the same period in 2011. Results for the quarter reflected a 1.4% higher average number of customers, higher base revenues due to weather that was slightly better than in 2011, and lower interest expense, more than offset by higher depreciation and operations and maintenance expenses. Fourth quarter net income in 2012 included $1.0 million of Allowance for Funds Used During Construction (AFUDC) equity, which represents allowed equity cost capitalized to construction costs, compared with $0.2 million in the 2011 quarter.
TECO Energy Reports Fourth-Quarter Results
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