Posts Tagged ‘Tennessee Valley Authority’

Summer rains mean lower TVA power bills

NORTH MISSISSIPPI — The Tennessee Valley Authority says an unusually wet summer has translated into lower electric bills for customers. John McCormick, Tennessee Valley Authority’s vice president for river operations, said in a statement that the rain kept the utility’s hydroelectric dams, which provide the cheapest source of energy, working overdrive. Scott Brooks, a Nashville-based […] [...]

TVA makes tax equivalent payments to governments of $547M

by Associated Press Published: November 20,2013

Tags: electricity, energy, power, tax eqivalent payment, Tennessee Valley Authority

KNOXVILLE, Tenn. — The Tennessee Valley Authority says it provided $547 million in tax equivalent payments in fiscal year 2013 to states and local governments where it sells electricity or has power properties. TVA says it makes tax equivalent payments annually in the eight states where it sells electricity or owns generating plants, transmission lines, […] [...]

TVA reports increase in net income despite lower demand

KNOXVILLE, Tenn. ― The Tennessee Valley Authority reports that the public-owned utility ended fiscal 2013 with net income of $271 million on $11 billion in operating revenues despite a decline in sales, while record levels of low-cost hydroelectric generation helped offset higher fuel costs. TVA president and CEO Bill Johnson said, “We experienced lower demand […] [...]

TVA recovers $42M toward $1B ash spill cleanup

NORTHEAST MISSISSIPPI — About $42 million has been recovered in the last week by the Tennessee Valley Authority to help pay for more than $1 billion in expenses stemming from the cleanup at the 2008 ash spill at the Kingston Fossil Plant in Tennessee. The latest payment comes after an arbitrator ruled that one of […] [...]

Steel-maker gets check for $2.5M for energy efficiencies

COLUMBUS — The Tennessee Valley Authority, along with Gov. Phil Bryant, presented a check yesterday for more than $2.5 million to Severstal North America for achieving energy efficiencies at its Columbus plant through TVA’s Major Industrial Program. The TVA program encourages reductions in electric energy intensity in large industrial facilities having greater than 5 megawatts of contract […] [...]

TVA saw record year for hydroelectric power generation

by Associated Press Published: October 4,2013

Tags: Chip Pardee, electricity, energy, hydroelectric, power, power generation, rain, Tennessee Valley Authority, utility, Weather

NORTH MISSISSIPPI — The Tennessee Valley Authority says fiscal 2013 was a record year for hydroelectric power generation. During the year ended Monday, TVA’s 29 hydroelectric dams provided 18.5 million megawatt-hours of energy. That’s enough electricity to serve more than 1.2 million homes in TVA’s seven-state region. TVA attributes the record to above-average precipitation. Rainfall […] [...]

Demand waning, TVA won’t ask to raise loan limit

by Associated Press Published: September 3,2013

Tags: borrowing cap, Congress, demand, electricity, energy, federal governmwnt, loan, power, Tennessee Valley Authority, utility

NORTH MISSISSIPPI — The Tennessee Valley Authority won’t ask Congress to raise its borrowing cap for at least the next 10 years. The Chattanooga Times Free Press reports that the federal utility says it anticipates being able to reduce its net borrowing in the next two years and reduce its debt over a decade by […] [...]

TVA raises base rate; first hike in two years

by Associated Press Published: August 22,2013

Tags: base rate, electricity, energy, light bill, power, power bill, rate hike, Tennessee Valley Authority, utility

NORTH MISSISSIPPI — The Tennessee Valley Authority is increasing its base rate by 1.5 percent, the first increase by the nation’s largest public utility in two years. The agency’s board of directors approved the hike and a $10.5 billion fiscal year 2014 budget at its meeting today. The new fiscal year begins Oct. 1. The […] [...]

Weather driving down TVA electricity bills

NORTH MISSISSIPPI — A cool, wet summer continues to benefit TVA power customers in the seven-state region. Tennessee Valley Authority spokesman Scott Brooks said today that the utility is reducing its fuel adjustment charge in September to the lowest level since March 2012. The levy will fall from the current 2.22 cents per kilowatt hour […] [...]

TVA buys majority share of power plant for $400M

SOUTHAVEN — The Tennessee Valley Authority has made a lease-purchase agreement to buy the majority share of a natural-gas fired power plant in Southaven. TVA and Seven States Power Corp., a group owned by TVA distributors, had bought the Southaven Combined Cycle Plant just south of Memphis in 2008. TVA owned 10 percent, while Seven […] [...]

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