October 21, 2014 6:28 AM ET

Electric Utilities

Company Overview of Tucson Electric Power Company

Company Overview

Tucson Electric Power Company generates, transmits, and distributes electricity in Arizona. The company generates electricity through coal, gas, oil, and solar projects. It serves 413,000 retail electric customers covering an area of 1,155 square miles in southeastern Arizona. As of December 31, 2013, the company owned or leased 2, 240 megawatts of net generating capacity; and owned or participated in an overhead electric transmission and distribution system consisting of 564 circuit-miles of 500-kilovolt (kV) lines, 1,088 circuit-miles of 345-kV lines, 413 circuit-miles of 138-kV lines, 481 circuit-miles of 46-kV lines, and 2,605 circuit-miles of lower voltage primary lines. It also has und...

88 East Broadway Boulevard

Tucson, AZ 85701

United States

Founded in 1892

1,398 Employees

Phone:

520-571-4000

Key Executives for Tucson Electric Power Company

Chief Executive Officer
Age: 47
Executive Chairman
Age: 62
Chief Financial Officer
Age: 57
Principal Accounting Officer
Age: 49
Chief Compliance Officer and Vice President
Age: 59
Compensation as of Fiscal Year 2014.

Tucson Electric Power Company Key Developments

SunZia Transmission LLC Sues Tucson Electric Power Co. over Management of Controversial Project

SunZia Transmission LLC has taken Tucson Electric Power Co. to court over the handling of a planned project to build a 515-mile high-voltage transmission line between central Arizona and central New Mexico. SunZia Transmission LLC's lawsuit filed in Pima County Superior Court on September 29, 2014 announced that TEP has improperly taken over management of the proposed $2 billion SunZia Southwest Transmission Project. In the suit the company has requested a court decision that TEP lacks authority over the project, voiding any steps TEP has taken as project manager and relieving the other SunZia project partners of liability for any investments TEP has made in relation with the project's second phase. SunZia Transmission has also asked the court to hire a receiver to handle the project and protect its stakes, as well as undisclosed money damages. SunZia says it has spent $710,250 on the project and could suffer damages of over $50 million.

Tucson Electric Power Company Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Tucson Electric Power Company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the second quarter, the company reported total operating revenues of $321,618,000 compared to $304,263,000 a year ago. Operating Income was $79,653,000 compared to $53,433,000 a year ago. Income before income taxes was $61,467,000 compared to $32,439,000 a year ago. Net Income was $38,725,000 compared to $30,787,000 a year ago. For the six months, the company reported total operating revenues of $577,131,000 compared to $552,014,000 a year ago. Operating Income was $111,652,000 compared to $76,180,000 a year ago. Income before income taxes was $75,977,000 compared to $35,175,000 a year ago. Net Income was $47,897,000 compared to $32,266,000 a year ago.

Tucson Electric Power Reports Earnings Results for the First Quarter Ended March 31, 2014

Tucson Electric Power reported earnings results for the first quarter ended March 31, 2014. For the first quarter, the company's net income for the first quarter ended March 31, 2014 was $9.17 million, compared to $1.48 million for the same quarter ended March 31, 2013. Total operating revenues for the first quarter ended March 31, 2014 were $255.51 million, compared to $247.75 million for the same quarter ended March 31, 2013. Operating income for the first quarter ended March 31, 2014 was $32 million, compared to $22.75 million for the same quarter ended March 31, 2013. Income before income taxes for the first quarter ended March 31, 2014 was $14.51 million, compared to $2.73 million for the same quarter ended March 31, 2013.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 27, 2013
Gila River Power, LLC, Unit 3 & Interests in Associated Common Facilities
 

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