We study the physical processes at work at the interface of two thermoelectric generators (TEGs) thermally and electrically connected in series. We show and explain how these processes impact on the system's performance: the derivation of the equivalent electrical series resistance yields a term whose physical meaning is thoroughly discussed. We demonstrate that this term must exist as a consequence of thermal continuity at the interface, since it is related to the variation of the junction temperature between the two TEGs associated in series as the electrical current varies. We then derive an expression for the equivalent series figure of merit. Finally we highlight the strong thermal/electrical symmetry between the parallel and series configurations and we compare our derivation with recent published results for the parallel configuration. (C) 2015 Elsevier Ltd. All rights reserved.