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.
Top Posts & Pages
- MSU reminding fans that drones are prohibited at football games
- Former DPS employees sentenced for selling bogus driver's licenses
- Politics of paying for transportation: Hand wringing and a lot of talk
- Researchers: Trapping, not hunting, best way to control wild hogs
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Research on dogs could lead to better understanding of human cancer
- Keesler Medical Center set to begin $74M renovation project
- ONE MORE YEAR: Leaders want year more of study on comprehensive road, bridge upkeep
- Community college dedicating new welding technology center