Independent Power and Renewable Electricity Producers
Company Overview of Tennessee Valley Authority
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
Founded in 1931
Key Executives for Tennessee Valley Authority
Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Chief Operating Officer and Executive Vice President
Senior Vice President of Watts Bar Nuclear Operations & Construction
Chief Nuclear Officer and Executive Vice President
Compensation as of Fiscal Year 2014.
Tennessee Valley Authority Key Developments
Court Dismisses Coal Group's Lawsuit over TVA's Plans to Retire Ky. Coal Units
Feb 10 15
A U.S. District court dismissed a lawsuit brought by the Kentucky Coal Association and a group of landowners against TVA for allegedly failing to conduct a proper environmental analysis as part of its decision to retire two coal units at its Paradise plant in Muhlenberg County, Ky., with a natural gas-fired, combined-cycle plant. The plaintiffs filed the lawsuit in July 2014 against TVA under the National Environmental Policy Act. Asking the court to halt the federal utility's plans to retire the two units, the lawsuit asserted that TVA did not prepare an environmental impact statement, or EIS, before deciding to construct a major new power generating facility. But in its Feb. 3 decision, the U.S. District Court for the Western District of Kentucky agreed with TVA that the utility does not have to prepare an EIS for the construction of a major generating facility if it determines that the plant will have no major environmental impacts. But the court concluded that TVA performed an adequate analysis of the costs related to replacing Paradise units 1 and 2 with gas generation.
Tennessee Valley Authority Reports Earnings Results for the First Quarter of 2015
Feb 4 15
The Tennessee Valley Authority (TVA) reported earnings results for the first quarter of 2015. For the quarter, the company reported net income of $81 million, a $148 million increase from the first quarter of last fiscal year. Total sales declined 1.6% during the three-month period. TVA generated $29 million more operating revenue on lower sales for the first quarter of fiscal year 2015 primarily due to a $28 million increase in base revenue. This is predominantly attributable to a non-fuel base rate increase approved by the TVA board in August 2014. TVA reported $198 million more investing cash outflows for the first quarter of fiscal year 2015 compared to the same period last year, primarily due to capacity expansion spending for Watts Bar Nuclear Unit 2 and two natural gas-fired generation facilities at the utility's Paradise and Allen fossil sites. Total operating revenues for the quarter reached $2.411 billion compared with $2.382 billion for the first quarter of 2014.
TVA Will Not Be Sold Suggests Strategic Review
Feb 2 15
Tennessee Valley Authority (TVA) will not be privatized. As the strategic review of Tennessee Valley Authority concluded, The Obama administration praised Tennessee Valley Authority for taking significant steps to improve operating and financial performance" and for bringing its debt under control. U.S. Senator Lamar Alexander said, "I'm glad the Obama administration has abandoned its ill-advised proposal to sell TVA. Now we can get back to letting TVA do what it was created to do: providing low-cost, reliable electricity to families and businesses in the Tennessee Valley."
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