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Tag Archives: Tennessee Valley Authority

Tennessee-based manufacturer sites plant in industrial park

WALNUT — Officials say ALUMA-FORM has broken ground on the company’s new manufacturing facility in Walnut in Tippah County. Gov. Phil Bryant says in a news release that the project represents a company investment of $6.7 million and will create 125 new jobs. The Memphis, Tenn.-based company is building its facility in the Walnut Industrial Park, where it will manufacture ...

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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 spokesman, told The Tennessean ...

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TVA makes tax equivalent payments to governments of $547M

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, substations and other assets. It ...

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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 for power during the year ...

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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 TVA’s insurers, Bermuda-based Arch, had ...

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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 demand. The greatest efficiency opportunity ...

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TVA saw record year for hydroelectric power generation

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 was 121 percent of normal ...

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

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 $5 billion. That’s because the ...

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TVA raises base rate; first hike in two years

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 rate adjustment will add about ...

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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 to 1.96 cents. That’s 20 ...

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