Home » NEWS » TVA surpasses 3-year cost reduction goal by more than $100M

TVA surpasses 3-year cost reduction goal by more than $100M

BOWLING GREEN, Ky. — The Tennessee Valley Authority says it surpassed its $500 million goal for reducing operation and maintenance costs over a three-year period. Officials say the utility beat the goal by more than $100 million.

CEO Bill Johnson told board members Friday in Bowling Green that ratepayers also benefited from lower fuel and purchased power costs in fiscal year 2015. The result was an 8 percent decrease in operating expenses for the fiscal year ending Sept. 30. That meant a $760 million savings.

Also that year, TVA helped attract and retain more than 76,200 jobs and a capital investment of more than $7.8 billion.

The Tennessee Valley Authority is the nation’s largest public utility. It supplies power to about 9 million people in Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.

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

About Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *

*