Mild temps reduce electricity sales for TVA
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.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Report: Mississippi sees biggest hike in home insurance premiums in U.S.
- Congressional delegation applauds Air Force's decision on Keesler, but not satisfied
- Giles Ward will not seek reelection to Senate
- Businessman involved in Frankel insurance scam dies at 81
- (UPDATED) Making Jackson-Evers affordable to Allegiant is key to regaining Orlando service
- County rescinds gun ban; sheriff says lawmakers may 'deal with the consequences'
- Commission to decide if emergency should be declared in Delta school system
- Leadership in Law nomination form
- Ex-state employee gets jail time for embezzling from school
- MDOT study: State's airports generate $2.5B-plus in economic activity