The Tennessee Valley Authority (TVA) recently announced that it generated $2.9 billion in total operating revenues from selling 38 billion kilowatt-hours of electricity for the three months ending December 31, 2024. This is a 5.6% increase compared to the same time last year. Higher electricity rates and a larger sales volume contributed to the growth. Sales of electricity rose by about 2% during this period, mainly due to demand from the data processing and hosting industry.

As the region served by the TVA continues to grow faster than the national average, so will the need for electricity. Jeff Lyash, TVA President and CEO, confirmed a two percent increase in power sales this quarter, even with milder weather. Just last month in January, a new record for electricity demand was set at 35,319 megawatts, which is enough power for 20 million homes at one time…

To support this growing demand, TVA plans to invest $16 billion over the next few years to build new power sources and improve existing facilities…  So far, they have added 1,400 megawatts of new generation, with more projects underway.

Dating back nearly 100-years, the TVA continues to serve local utility providers like Middle Tennessee Electric today…

However, TVA also faced some challenges. The cost of fuel and purchased power increased by $44 million compared to last year, mainly due to higher coal prices and lower nuclear generation availability. Despite this, half of TVA's power supply was carbon-free, coming from sources like nuclear, hydroelectric, solar, and wind.

Operating and maintenance expenses rose by $38 million, mostly due to increased labor costs and expenses related to nuclear outages. TVA’s net income for this quarter was $125 million, which is $2 million less than last year because of higher operating costs.

In another significant change, Tom Rice was named TVA's Chief Financial Officer in January, succeeding John Thomas, who retired after nearly 20 years. Rice noted the beginning of the New Year has proved positive… Overseeing financials, Rice suggested the TVA continues to grow while providing energy security and affordable rates…

The Tennessee Valley Authority is the nation’s largest public power supplier and Lyash highlighted the strong number of customers served… Over 90 years ago, the TVA was established to serve the region with energy, while also tackling environmental, and economic challenges along the way.

TVA aims to work without taxpayer funding, relying mostly on its electricity sales to operate and invest in its energy system.

More Information Through the Following Links:

• More details and financial reports can be found online at TVA.com.
• TVA’s quarterly report and more at http://www.tva.com/investors
• You can also visit the SEC’s website at http://www.sec.gov 
• Phone number to call the TVA: 888-882-4975.