TE Teco Energy, Inc. (delisted)

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 17, 2015

TECO ENERGY, INC.

(Exact name of registrant as specified in its charter)

702 N. Franklin Street, Tampa, Florida 33602

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (813) 228-1111

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:

Section 1 – Registrant’s Business and Operations

Item 1.01: Amendment of a Material Definitive Agreement

On April 17, 2015, TECO Diversified, Inc. (“Seller”), a wholly-owned subsidiary of TECO Energy, Inc., entered into an amendment (the “Amendment”) to the Securities Purchase Agreement dated as of October 17, 2014, as amended (the “SPA”), with Cambrian Coal Corporation (“Buyer”). As previously reported, the SPA relates to the sale of all of the ownership interest in TECO Coal LLC (“TECO Coal”) to Cambrian Coal Corporation, and was subject to termination by either party if specified closing conditions, including the purchaser’s obtaining financing in order to pay a portion of the purchase price, were not met by April 24, 2015. The Amendment extends this date and provides that the SPA, as amended, is subject to termination by either party if the specified closing conditions are not met by June 5, 2015.

On April 20, 2015, the Company issued a press release regarding the Amendment described above, which is attached as Exhibit 99.1 to this report.

Section 9 – Financial Statements and Exhibits

Item 9.01: Financial Statements and Exhibits

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.

Exhibit Index

Exhibit 99.1

FOR IMMEDIATE RELEASE

TECO ENERGY ENTERS INTO FOURTH AMENDMENT OF

AGREEMENT TO SELL TECO COAL

TAMPA, Fla. (April 20, 2015) — TECO Energy Inc. (NYSE:TE) today announced that on April 17, 2015 it entered into a fourth amendment of its agreement with Cambrian Coal Corp., a member of the Booth Energy group, to modify the terms of the Securities Purchase Agreement (SPA) dated as of Oct. 17, 2014, related to the sale of TECO Coal. This fourth amendment extends the closing date to June 5, 2015. The total sales price remains $140 million including future contingent consideration of $60 million if certain coal benchmark prices reach certain levels over the next five years. The $80 million cash base purchase price is subject to post-closing adjustments.

TECO Energy CEO John Ramil stated, “We remain committed to exiting the coal business in the most effective way. We continue to believe that working cooperatively with Cambrian and providing it with additional time to work with its lending group to obtain financing for the transaction is the preferred way to meet that commitment. We are well positioned to exit the business in many ways. The business is in discontinued operations, we have written it down appropriately to reflect the transaction value, and we have right-sized the operations for the current market conditions. We will report first quarter results on April 28, and we look forward to reporting on our utility businesses, with the expected good growth in our Florida operations and positive earnings contribution from New Mexico Gas.”

TECO Energy Inc. (NYSE: TE) is an energy-related holding company with regulated electric and gas utilities in Florida and New Mexico. Tampa Electric serves more than 700,000 customers in West Central Florida; Peoples Gas System serves more than 350,000 customers across Florida; and New Mexico Gas Co. serves more than 510,000 customers across New Mexico. Other TECO Energy subsidiaries include TECO Coal, which owns and operates coal-production facilities in Kentucky, Tennessee and Virginia.

Note: This press release may be deemed to contain forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions.

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Actual results may differ materially from those forecasted. The forecasted results are based on the company’s current expectations and assumptions, and the company does not undertake to update that information or any other information contained in this press release, except as may be required by law. Factors that could impact actual results include: the ability of the purchaser of TECO Coal to obtain suitable financing, for other closing conditions to be satisfied or waived, and for TECO Energy to successfully close the sale transaction. Additional information is contained under “Risk Factors” in TECO Energy, Inc.’s Annual Report on Form 10-K for the period ended Dec. 31, 2014.

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