Mild temps reduce electricity sales for TVA
by Associated Press
Published: February 3,2012
KNOXVILLE, Tenn. — The Tennessee Valley Authority said a mild winter so far has reduced electricity sales by 5 percent in the first quarter of the fiscal year and will cause the utility to reconsider expenditures for the rest of the year.
The utility said in a news release on Friday that its first quarterly report to the Securities and Exchange Commission shows that total revenues declined by 9 percent or $260 million compared with the same period last year.
Chief Financial Officer John Thomas said weather fluctuations are normal and TVA can make adjustments to planned programs for 2012.
TVA is the nation’s largest public utility and supplies power to about 9 million people in Tennessee, Kentucky, Alabama, Mississippi, Georgia, North Carolina and Virginia.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Fervor grows for Tuscaloosa Marine Shale
- Click Boutique revives Hattiesburg downtown retail district
- LNG facility hoping to begin exporting natural gas
- Doctor's murder-for-hire case postponed, mental evaluation pending
- ACLU could sue over state's new school prayer law
- District at Eastover construction to start later this year
- Hatchery releases largemouth bass fingerlings in three rivers
- Bill exempting small farms from fuel storage regs passes Senate
- John Fletcher joins Jones Walker