UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~April~~December 13, 2024

TAMPA ELECTRIC COMPANY

(Exact name of registrant as specified in its charter)

Florida

1-5007

59-0475140

(State or other jurisdiction
of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

TECO Plaza

702 N. Franklin Street

Tampa, Florida 33602

(Address of principal executive offices)

(813) 228-1111

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (§230.405 of this chapter) or Rule 12b-2 of the Exchange Act (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

~~Section~~Item 18.01. ~~Registrant’s~~Other ~~Business and Operations~~Events.

~~Item~~On April 2, 2024, Tampa Electric Company (the “Company”) filed with the Florida Public Service Commission (the “FPSC”) a request for a base rate increase, effective January 1, 2025, and additional adjustments for 2026 and 2027.01 The Company’s proposed rate request included recovery of solar generation projects, energy storage capacity, a more resilient and modernized energy control center, and other resiliency and reliability projects. ~~Entry~~Prior ~~into~~to the rate case hearing, the Company submitted revisions to its requested base rate increase to reflect items that included production tax credits, energy storage life expectancy, and the Company’s grid reliability and resilience project. From August 26 through 30, 2024, the Company’s rate case hearing was heard by the FPSC. On December 3, 2024, the FPSC rendered a ~~Material~~decision ~~Definitive~~during ~~Agreement~~a Special Agenda Conference. The FPSC decision includes an increase of $185 million in 2025 and additional increases of $87 million and $9 million in 2026 and 2027, respectively. The decision also allowed for equity in the capital structure to continue to be 54% from investor sources of capital. The allowed regulatory return on equity range is 9.50% to 11.50% with a 10.50% midpoint, effective January 1, 2025. Final rate details reflecting this decision are expected to be determined by the FPSC on December 19, 2024.

On April 1, 2024, Tampa Electric Company (“Tampa Electric”) amended and restated its $800 million bank credit facility, entering into an Eighth Amended and Restated Credit Agreement (the “Revolving Credit Agreement”) with Wells Fargo Bank, National Association, as Administrative Agent, Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., MUFG Bank Ltd., Canada Branch, The Bank of Nova Scotia, Morgan Stanley Senior Lending, Inc. and Royal Bank of Canada, as Joint Lead Arrangers and Joint Bookrunners, JPMorgan Chase Bank, N.A. as Syndication Agent, MUFG Bank, Ltd., Canada Branch, The Bank of Nova Scotia, Morgan Stanley Senior Lending, Inc. and Royal Bank of Canada as Documentation Agents, and the following lenders: Wells Fargo Bank, National Association, JPMorgan Chase Bank, N.A., Royal Bank of Canada, MUFG Bank, Ltd., Canada Branch, The Bank of Nova Scotia, Morgan Stanley Bank, N.A., Truist Bank, Bank of America N.A., Canadian Imperial Bank of Commerce, New York Branch, Bank of Montreal, and The Toronto-Dominion Bank, New York Branch (the “Lenders”). The Revolving Credit Agreement contains customary representations and warranties, events of default, and financial and other covenants; extends the maturity date of the existing credit facility from December 17, 2026 to December 1, 2028; and provides for interest to accrue at variable rates based on the secured overnight financing rate administered by the Federal Reserve Bank of New York, plus a margin, or, as an alternative to such interest rate, at an interest rate equal to a margin plus the highest of the prime rate of Wells Fargo Bank, National Association, the federal funds rate plus 0.50%, or the one-month secured overnight financing rate plus 1.00%.

The foregoing description of the Revolving Credit Agreement is qualified in its entirety by reference to the complete text of the Revolving Credit Agreement, which is filed as Exhibit 10.1 to this Report and incorporated herein by reference.

The Lenders are lenders under other credit facilities of Tampa Electric and its affiliates, and affiliates of the Lenders have in the past provided, and in the future may provide, investment banking, underwriting, lending, commercial banking and other advisory services to Tampa Electric and its affiliates.

Section 2 Financial Information

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Section 9 Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1		Eighth Amended and Restated Credit Agreement, dated April 1, 2024, by and among Tampa Electric Company, as Borrower, with Wells Fargo Bank, National Association, as Administrative Agent, and the Lenders party thereto.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 3, 2024

TAMPA ELECTRIC COMPANY (Registrant)

Date: December 9, 2024

TAMPA ELECTRIC COMPANY (Registrant)

/s/ Michelle V. Szekeres

Michelle V. Szekeres

Associate General Counsel and Corporate Secretary

Corporate Secretary

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