Thursday, February 04, 2016

TVA shows a loss for last quarter
The Tennessee Valley Authority reported a net loss of $37 million for the three months ending in December 2015. Net income was $118 million lower compared to the same period in 2014, primarily do to the weather. Temperatures in the Tennessee Valley in December were the mildest in more than 50 years, contributing to 8 percent lower sales of electricity compared to a year ago. Operating expenses for the first quarter of 2016 increased by less than 1 percent versus the same period in the prior year. Operating costs were helped by $56 million lower fuel and purchased power expense as a result of lower sales, more hydroelectric and natural gas-fired generation, as well as lower natural gas prices. “TVA customers continue to benefit from the diversity of our power system, which helped keep costs lower in the first quarter, despite unusual conditions,” said TVA President and CEO Bill Johnson. “Increased output from TVA’s robust hydroelectric system and low cost natural gas-fired power helped offset lower revenues, limiting the impact on TVA’s financial performance. We are also maintaining good discipline in managing our costs, which is particularly important in periods of lower sales and revenues.” TVA’s mission of environmental stewardship includes management of the Tennessee River system for multiple benefits, including flood control. With record-breaking rainfall in December 2015, TVA personnel worked to avert millions of dollars of potential flood damage in the Tennessee Valley during the first quarter of 2016, and worked with the U.S. Army Corps of Engineers to reduce impacts on the Ohio and Mississippi Rivers through coordinated use of TVA’s system of dams. “This past December was both the warmest and also one of the wettest in TVA history,” said Chief Financial Officer John Thomas. “


Return to Today's News Stories - Front Page

Thursday, April 29, 2021

  • US 411 Project News
  • Mill Creek Wildfire Update
  • More Bad News For Smokies' Fans

    Wednesday, April 28, 2021

  • Mill Creek Wildfire doubles in size
  • Goodbye Smokies?
  • Keep Cocke County Beautiful
  • Cocke Co. High School Remote Learning today!

    Tuesday, April 27, 2021

  • The fireflies are coming!
  • Burnout Operations on MillCreek wildfire today
  • Gas prices drop
  • Tennessee keeps all US House seats

    Monday, April 26, 2021

  • Boat accident victim ID'd
  • Traffic stop yields drug arrest
  • Cocke County Wildfires

    Friday, April 23, 2021

  • Leaving WNPC
  • Mathis announces candidacy
  • Newport drug roundup
  • Cruise Against Cancer
  • Jobless numbers