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May 06, 2015 12:41 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of Tennessee Valley Authority

Company Overview

Tennessee Valley Authority engages in the production and sale of electricity in the United States. It generates power from coal-fired, nuclear, hydroelectric facilities, and combustion turbine and diesel generators. The company sells power at wholesale to distributor customers comprising municipalities and cooperatives that resell the power to their customers at a retail rate. It also supplies power directly to federal agencies and customers with large or unusual loads, as well as customers with whom it has entered into exchange power arrangements. As of September 30, 2008, it operated various power generating facilities, including 29 conventional hydroelectric sites, 1 pumped storage hydroe...

400 West Summit Hill Drive

Knoxville, TN 37902-1499

United States

Founded in 1931

11,542 Employees

Phone:

865-632-2101

Fax:

865-632-6901

Key Executives for Tennessee Valley Authority

Chief Executive Officer and President
Age: 60
Chief Financial Officer and Executive Vice President
Age: 51
Chief Operating Officer and Executive Vice President
Age: 54
Senior Vice President of Watts Bar Nuclear Operations & Construction
Age: 54
Chief Nuclear Officer and Executive Vice President
Age: 58
Compensation as of Fiscal Year 2014.

Tennessee Valley Authority Key Developments

Tennessee Valley Authority Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2015

Tennessee Valley Authority reported earnings results for the second quarter and six months ended March 31, 2015. For the quarter, the company reported $496 million of net income on $2.86 billion in revenue for the second quarter, compared with $295 million of net income on $2.94 billion in revenue during the same period in last year. For the six months, the company reported income of $577 million for the first six months of fiscal year 2015, a $349 million increase compared with the same period last year. Total sales of electricity for the first half of the fiscal year were down 1.5% versus the same period last year. Sales to local power company customers fell 1.2% for the first six months of the year as compared with the same period last year because of extreme weather patterns.

Tennessee Valley Authority, Q2 2015 Earnings Call, May 01, 2015

Tennessee Valley Authority, Q2 2015 Earnings Call, May 01, 2015

Tennessee Valley Authority Faces Second Lawsuit

Environmental organizations are going past state court and asking a federal judge to settle a dispute about whether coal ash residues are polluting the Cumberland River, the primary source of drinking water for people living in Middle Tennessee. A federal lawsuit was filed accusing the Tennessee Valley Authority of violating the Clean Water Act. It comes on the heels of another suit against TVA filed in January in Davidson County Chancery Court by the state's environmental regulatory agency. In filing the second suit, the environmental organizations are seeking a venue that may take more substantive actions against TVA under federal law provisions. The Southern Environmental Law Center filed the suit on behalf of the Tennessee Clean Water Network and the Tennessee Scenic Rivers Association. The organizations had already filed motions to intervene in the state suit before filing the federal suit. An attorney for TVA has described the allegations made by the Southern Environmental Law Center in the state suit as "legally and factually baseless." Coal ash is a byproduct of the Gallatin Fossil Plant, which burns coal to produce electricity. The ash contains mercury, arsenic and other pollutants harmful to people and the environment when found in high concentrations. For years many utilities, including TVA, have stored the material as a wet sludge in unlined storage ponds. TVA has added monitoring wells, stabilized the dikes at Gallatin and regularly submits water quality reports to the state, said John Kammeyer, the engineer in charge of coal combustion products for the Tennessee Valley Authority. Biologists monitor aquatic life in the river for TVA, Kammeyer said, and no problems have been noted. Nor have contaminants from the plant been reported in drinking water systems. Brooks said TVA has committed to converting all of its wet coal ash storage sites to dry storage, a safer way to store the material, a move that could cost as much as $2 billion. But the environmental organizations contend the coal ash ponds are leaking and pose future risks.

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