Exhibit 99.1

FOR IMMEDIATE RELEASE

TECO ENERGY REPORTS THIRD-QUARTER RESULTS

Company maintains 2013 earnings-per-share guidance range

TAMPA, Fla. (Oct. 31, 2013) — TECO Energy, Inc. (NYSE:TE) today reported third-quarter 2013 net income of $62.8 million, or $0.29 per share, compared with $44.0 million, or $0.20 per share, in the third quarter of 2012. Net income from continuing operations was $62.9 million, or $0.29 per share, in the 2013 third quarter, compared with $90.2 million, or $0.42 per share, for the same period in 2012. The 2013 third-quarter cost of $0.1 million reported in discontinued operations was related to the 2012 sale of TECO Guatemala.

Third quarter non-GAAP results from continuing operations, which exclude $2.1 million of costs associated with the pending acquisition of New Mexico Gas Co. (NMGC), were $65.0 million.

Year-to-date 2013 net income was $155.7 million, or $0.72 per share, compared with $167.6 million, or $0.78 per share, in the same period in 2012. Net income from continuing operations was $155.7 million, or $0.72 per share, in the 2013 year-to-date period, compared with $200.4 million, or $0.93 per share, for the same period in 2012.

Year-to-date 2013 non-GAAP results from continuing operations, which exclude costs associated with the pending acquisition of NMGC, were $159.6 million.

TECO Energy President and Chief Executive Officer John Ramil said, “This quarter the Florida Public Service Commission approved our settlement agreement among all of the parties to Tampa Electric’s base rate request. This agreement provides strong visibility to our utility earnings over the next four years, including 2017 when the Polk conversion project is expected to be complete, and the opportunity for our utilities to earn their allowed returns over the period. At the same time, the state and local economies continue to strengthen with unemployment decreasing and the housing market continuing to improve, which will support our expected earnings growth.”

Ramil went on to say, “We are making good progress with the required approvals for our acquisition of New Mexico Gas Co. and we expect to close that transaction either late in the first quarter or early in the second quarter of next year.”

Non-GAAP Results

Non-GAAP results in the third quarter and year-to-date periods of 2013 exclude costs associated with the pending acquisition of NMGC. There were no non-GAAP adjustments to net income in the third quarter or year-to-date periods of 2012, or the 12 months ended Sept. 30, 2012.

The table below compares the TECO Energy GAAP net income with the non-GAAP measures used in this release. Non-GAAP results exclude charges and gains contained in the Results Reconciliation table later in this release. See the Non-GAAP

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Presentation section and Results Reconciliation table later in this release for a reconciliation to GAAP results and a discussion regarding this presentation of non-GAAP results and management’s use of this information.

All amounts included in the non-GAAP discussion below are after tax, unless otherwise noted.

Segment Reporting

The table below includes TECO Energy segment information on a GAAP basis, which includes all charges and gains for the periods shown.

Segment Information

All amounts included in the operating company discussions below are after tax, unless otherwise noted.

Tampa Electric

Tampa Electric’s net income for the third quarter of 2013 was $68.7 million, compared with $73.5 million for the same period in 2012. Results for the quarter reflected a 1.6% higher average number of customers, lower energy sales primarily due to lower sales to commercial and phosphate customers, and almost $1.0 million lower earnings on assets recovered through the Environmental Cost Recovery Clause (ECRC) due to a Florida Public Service Commission (FPSC) rule revising the return on investment calculation effective Jan. 1, 2013. Higher depreciation and operations and maintenance

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expenses were partially offset by lower interest expense. Third-quarter net income in 2013 included $1.8 million of Allowance for Funds Used During Construction (AFUDC) equity, which represents allowed equity cost capitalized to construction costs, compared with $0.7 million in the 2012 quarter.

Total degree days in Tampa Electric’s service area in the third quarter of 2013 were 1% below normal, and unchanged from last year. In the third quarter, rainfall, which typically reduces energy sales, was almost 40% above normal in the Tampa area and 28% above the 2012 period. Total net energy for load, which is a calendar measurement of retail energy sales rather than a billing-cycle measurement, decreased 1.0% in the third quarter of 2013 compared with the same period in 2012. Pretax base revenues were $1.7 million lower than in the 2012 period. The quarterly energy sales shown on the statistical summary that accompanies this earnings release reflect the energy sales based on the timing of billing cycles, which can vary period to period. Sales to residential customers increased 1.2%, primarily reflecting customer growth. Sales to commercial customers decreased in the third quarter of 2013 as a result of the reclassification of some commercial customers to the industrial category, and lower usage primarily due to improvements in lighting efficiency. Sales to lower-margin industrial-phosphate customers decreased as self-generation by those customers increased. Sales to other utilities decreased significantly due to the expiration of two wholesale contracts at the end of 2012.

Operations and maintenance expense, excluding all FPSC-approved cost-recovery clauses, increased $3.1 million in the 2013 quarter, reflecting primarily higher costs to operate and maintain the transmission and distribution systems, and higher employee pension and benefit costs. Depreciation and amortization expense increased $1.2 million in 2013 due to additions to facilities to serve customers. Interest expense decreased $2.4 million due to lower long-term debt interest rates and balances.

Year-to-date net income was $151.1 million, compared with $156.9 million in the 2012 period, driven primarily by lower energy sales due to generally milder weather early in the year, $2.6 million lower earnings on assets recovered through the ECRC, and higher depreciation and operations and maintenance expenses partially offset by lower interest expense, and 1.5% higher average number of customers.

Year-to-date total degree days in Tampa Electric’s service area were 1% below normal, and 4% below the prior year-to-date period, reflecting generally milder weather early in the year. Pretax base revenue was more than $7 million lower than in 2012, primarily reflecting lower sales to weather-sensitive residential and commercial customers.

In the 2013 year-to-date period, total net energy for load was 1.6% lower than in the same period in 2012. In addition to the third quarter factors discussed above, milder winter and spring weather reduced sales to higher-margin and weather-sensitive residential and commercial customers while industrial-other sales were higher, reflecting improvements in the Florida economy.

Operations and maintenance expenses, excluding all FPSC-approved cost-recovery clauses, increased $8.1 million in the 2013 year-to-date period, reflecting the same factors as in the third quarter. Compared to the 2012 year-to-date period, depreciation and amortization expense increased $2.9 million, primarily reflecting additions to facilities to serve customers. Interest expense decreased $10.3 million, due to lower long-term debt interest rates and balances and a lower interest rate on customer deposits.

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Peoples Gas

Peoples Gas System reported net income of $5.4 million for the third quarter, compared with $7.0 million in 2012. Third-quarter results in 2013 reflected $2.4 million higher non-fuel operations and maintenance expense that was partially offset by lower interest expense. Average customer growth was 1.3% in the quarter, and therm sales increased to all retail customer classes. Therms sold to commercial and industrial customers increased due to improving economic conditions. Sales to power generation customers and off-system sales decreased due to the expiration of two contracts with power generators, new participants in the market, and higher natural gas prices in 2013 compared to 2012.

Peoples Gas reported net income of $27.1 million for the year-to-date period, compared with $27.0 million in the same period in 2012. Non-fuel operations and maintenance expense increased $3.7 million compared to the 2012 period. Interest expense decreased $1.5 million, due to lower long-term debt interest rates and a lower interest rate on customer deposits. Results also reflect a 1.3% higher average number of customers, and higher therm sales to all retail customer classes due to more normal winter weather and improving economic conditions. Sales to power generation customers and off-system sales decreased due to the same reasons as in the third quarter.

TECO Coal

TECO Coal reported a third-quarter loss of $1.4 million on sales of 1.5 million tons, compared with net income of $17.4 million on sales of 1.9 million tons in the same period in 2012. In 2013, third-quarter results reflect an average net per-ton selling price, excluding transportation allowances, of $82 per ton, compared to $96 per ton in 2012. In the third quarter of 2013, the all-in total per-ton cost of sales was $84 per ton, within the full-year guidance range and lower than in prior quarters. The cost of sales in September was below the full-year 2013 cost guidance range. Due to the effects of tax-percentage depletion, TECO Coal recorded a $1.2 million income tax benefit in the third quarter of 2013, compared with a 26% effective income tax rate, or a $6.0 million tax expense, in the 2012 period.

TECO Coal recorded year-to-date 2013 net income of $2.3 million on sales of 4.2 million tons, compared with $39.4 million on sales of 4.9 million tons in the 2012 period. The 2013 year-to-date average net per-ton selling price was $85 per ton, compared with $96 per ton in 2012. The all-in total per-ton cost of sales was $85 per ton, which was essentially unchanged from 2012. The cost of sales in the first quarter of 2013 included some higher-cost tons from December inventory that included costs associated with personnel reductions and with idling certain mining operations. Due to the effects of tax-percentage depletion, TECO Coal recorded a $2.2 million income tax benefit in 2013, compared with a 25% effective income tax rate, or a $13.2 million tax expense, in the 2012 period.

Parent & other

The cost for Parent & other in the third quarter of 2013 was $9.9 million, compared with a cost of $11.3 million in the same period in 2012. The non-GAAP cost from continuing operations for Parent & other in 2013 was $7.7 million, which excluded $2.1 million of costs associated with the pending acquisition of NMGC, compared with a cost of $7.7 million in 2012.

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The 2013 year-to-date cost for Parent & other was $24.8 million, compared with $27.1 million for the 2012 period. The non-GAAP cost from continuing operations for Parent & other in 2013 was $20.9 million, which excluded $3.9 million of costs associated with the pending acquisition of NMGC, compared with $22.9 million in the 2012 period. Results from continuing operations in 2012 excluded costs associated with the sale of TECO Guatemala.

The $0.1 million loss from discontinued operations for the quarter represents costs and benefits recorded at Parent & other related to the 2012 sale of TECO Guatemala.

2013 Guidance

TECO Energy is maintaining its earnings-per-share guidance for 2013 in a range between $0.90 and $1.00, excluding charges and gains. TECO Energy expects earnings in 2013 to be driven by the factors discussed below.

Tampa Electric expects to record higher revenues in November and December as a result of its September rate case settlement agreement. It expects continued customer growth consistent with year-to-date trends and total retail energy sales growth lower than customer growth due to lower average customer usage. Operations and maintenance expenses are expected to be higher than in 2012 due to increased expenses to operate the system and reliably serve customers, higher employee-related expenses including the accrual of performance-based compensation for all employees based on expected financial results, and higher pension expense driven by lower discount rate assumptions in the current interest-rate environment.

Peoples Gas expects to continue to earn above the middle of its allowed ROE range of 9.75% to 11.75% from moderate customer growth, which is in line with the trends experienced in the year-to-date period. It also expects to benefit from continued interest from customers utilizing petroleum and other fuel sources to convert to natural gas due to the attractive economics.

TECO Coal has 95% of its expected sales of between 5.2 million and 5.7 million tons contracted for 2013. The unsold tons are primarily High-Vol-A coal, which are forecast to be sold in the fourth quarter, but at lower prices than previously expected. On an operating basis, TECO Coal expects full-year results to be significantly lower than previously expected. Operating results are expected to be break-even in the fourth quarter, but financial results are expected to reflect additional tax benefits in the fourth quarter.

Non-GAAP Presentation

Management believes it is helpful to present a non-GAAP measure of performance that reflects the ongoing operations of TECO Energy’s businesses and that allows investors to better understand and evaluate the business as it is expected to operate in future periods.

Management and the board of directors use non-GAAP measures as a yardstick for measuring the company’s performance, for making decisions that are dependent upon the profitability of the company’s various operating units, and for determining levels of incentive compensation.

The non-GAAP measures of financial performance used by the company are not

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measures of performance under accounting principles generally accepted in the United States and should not be considered an alternative to net income or other GAAP figures as an indicator of the company’s financial performance or liquidity. TECO Energy’s non-GAAP presentation of net income may not be comparable to similarly titled measures used by other companies.

The Results Reconciliation table below presents non-GAAP financial results after eliminating the effects of identified charges and gains. This provides investors additional information to assess the company’s results and future earnings potential.

Results Reconciliation

Webcast

As previously announced, TECO Energy will host a webcast with the investment community to discuss its quarterly results and 2013 outlook at 9:00 am Eastern time, Thursday, Oct. 31, 2013. The webcast will be accessible through a link on TECO Energy’s website: www.tecoenergy.com. The webcast and accompanying slides will be available for replay for 30 days through the website, beginning approximately two hours after the conclusion of the live event.

TECO Energy, Inc. (NYSE: TE) is an energy-related holding company. Its principal subsidiary, Tampa Electric Company, is a regulated utility in Florida with both electric and gas divisions (Tampa Electric and Peoples Gas System). Its other major subsidiary, TECO Coal, owns and operates coal production facilities in Kentucky and Virginia.

Note: This press release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. 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: regulatory actions by federal, state or local authorities, including the required approval by the New

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Mexico Public Regulation Commission for the acquisition of NMGC.; the risk that the transaction to acquire NMGC may not be consummated; unexpected capital needs or unanticipated reductions in cash flow that affect liquidity; the ability to access the capital and credit markets when required, including the permanent financing for the acquisition of NMGC; general economic conditions affecting energy sales at the utility companies; economic conditions, both national and international, affecting the Florida economy and demand for TECO Coal’s production; costs for alternate fuels used for power generation affecting demand for TECO Coal’s thermal coal production; operating costs and environmental or safety regulations affecting production levels and margins at TECO Coal; continuation of weak market conditions affecting the value of TECO Coal’s facilities and coal reserves; weather variations and customer energy usage patterns affecting sales and operating costs at the utilities and the effect of weather conditions on energy consumption; and the effect of extreme weather conditions or hurricanes; general operating conditions; input commodity prices affecting cost at all of the operating companies; natural gas demand at the utilities; and the ability of TECO Energy’s subsidiaries to operate equipment without undue accidents, breakdowns or failures. Additional information is contained under “Risk Factors” in TECO Energy, Inc.’s Annual Report on Form 10-K for the period ended Dec. 31, 2012, and as updated in subsequent filings with the Securities and Exchange Commission.

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Summary Information (as of September 30, 2013)

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SEPTEMBER 2013

Figures appearing in these statements are presented as general information and not in connection with any sale or offer to sell or solicitation of an offer to buy any securities, nor are they intended as a representation by the company of the value of its securities. All figures reported are subject to adjustments as the annual audit by independent accountants may determine to be necessary and to the explanatory notes affecting income and balance sheet accounts contained in the company’s Annual Report on Form 10-K. Reference should also be made to information contained in that and other reports filed by TECO Energy, Inc. and Tampa Electric Company with the Securities and Exchange Commission.

TECO ENERGY, Inc.

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

(All significant intercompany transactions have been eliminated in the consolidated financial statements.)

TECO ENERGY, Inc.

CONSOLIDATED BALANCE SHEETS (Unaudited)

(All significant intercompany transactions have been eliminated in the consolidated financial statements.)

TECO ENERGY, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(All significant intercompany transactions have been eliminated in the consolidated financial statements.)

TECO ENERGY, Inc.

SEGMENT INFORMATION (Unaudited)