NORTH MISSISSIPPI — A U.S. Government Accountability Office report says the Tennessee Valley Authority’s plans for spending on power-generating facilities and its agreement to spend up to $5 billion on pollution controls pose difficult financial decisions.
The report also says TVA has been slow to consider the potential of energy efficiency measures but acknowledges the utility is about to finish such a study.
With TVA’s statutory debt at almost $24 billion in September 2010, the report says TVA plans to spend about $10 billion by 2013 for capital projects.
TVA President and CEO Tom Kilgore in a written response also released Dec. 1 said TVA “sees the opportunity for considerable progress in energy efficiency.” Kilgore said TVA needs financial flexibility and he reminded the GAO that the debt ceiling remains unchanged since 1979.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info