  The electronic and magnetic properties of the excess Fe in iron telluride
Fe$_{(1+x)}$Te are investigated by density functional calculations. We find
that the excess Fe occurs with valence near Fe$^{+}$, and therefore provides
electron doping with approximately one carrier per Fe, and furthermore that the
excess Fe is strongly magnetic. Thus it will provide local moments that
interact with the plane Fe magnetism, and these are expected to persist in
phases where the magnetism of the planes is destroyed for example by pressure
or doping. These results are discussed in the context of superconductivity.
