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September 03, 2015 1:41 AM 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: 61
Chief Financial Officer and Executive Vice President
Age: 52
Chief Operating Officer and Executive Vice President
Age: 55
Senior Vice President of Watts Bar Nuclear Operations & Construction
Age: 55
Chief Nuclear Officer and Executive Vice President
Age: 59
Compensation as of Fiscal Year 2015.

Tennessee Valley Authority Key Developments

Tennessee Valley Authority Appoints Mr. Eric Satz as Board of Director

On August 5, 2015, the United States Senate confirmed the nomination of Mr. Eric Satz to serve on the Tennessee Valley Authority Board of Directors. Mr. Satz will become a member of the Board after the Presidential commissioning and certain administrative matters have been completed and he has been sworn in. Mr. Satz's term will expire in May 2018.

Tennessee Valley Authority Enters into $500,000,000 February 2020 Maturity Credit Agreement

On August 7, 2015, Tennessee Valley Authority entered into a $500,000,000 February 2020 Maturity Credit Agreement with Bank of America as Administrative Agent, Letter of Credit Issuer, and a Lender, and the Other Lenders Party Thereto (the Credit Agreement"). The Credit Agreement allows TVA to access up to $500,000,000 in either loans or letters of credit, and will expire on February 1, 2020. The interest rate on any borrowing under the Credit Agreement is variable based on market factors and the rating of TVA's senior unsecured long-term non-credit enhanced debt. TVA is required to pay an unused facility fee on the portion of the $500,000,000 against which TVA has not borrowed or committed under letters of credit.

Tennessee Valley Authority Plans to Cut Another 200 Jobs in the 2016

The Tennessee Valley Authority, which cut nearly 2,000 jobs over the past 2 years to trim its staff to the lowest level in 81 years, plans to cut another 200 jobs in the 2016. The staff cuts also are part of TVA's three-year program to cut $500 million in annual operating expenses. By cutting staff and selected programs and taking advantage of cheaper natural gas, purchased power and coal, TVA officials said Tuesday the utility has more than quadrupled its net income in the current fiscal year compared with a year ago.

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