TVA Says Expenses, Debt Reduced

Thursday, May 10, 2018

TVA officials reported Thursday, "The improved performance of all of TVA’s generation and transmission assets has allowed a further reduction in its operating expenses over the first two quarters of the fiscal year. Interest costs also remained lower than budget and favorable cash flows reduced debt. Combined with high power sales driven by the colder weather this winter, these factors resulted in an improved net income.

TVA Chief Financial Officer John Thomas said, “Our positive financial performance is directly related to improved operational performance, which helps us maintain rates as low as feasible.

“Our effective wholesale rate remains 2 percent less than it was in 2013 and our retail rates are lower than about 75 percent of the U.S.”

Additional Q2 FY18 achievements include:

  • Reduced TVA’s overall carbon emissions by nearly 50 percent from 2005 levels, on track for a 60 percent reduction by 2020.

  • Retired the Allen Fossil Plant near Memphis after 58 years of service while essentially completing the Allen Combined Cycle gas generating facility, which entered commercial operation on April 30.

  • Completed an extended power uprate on Browns Ferry Unit 3 that will contribute an extra 155 megawatts of carbon-free energy. Similar uprates on units 1 and 2 will be completed next spring.

  • Minimized the flooding impact of record-setting February rains, which dropped nearly 12 inches of rainfall in some areas

President and CEO Bill Johnson said, “Fifty-five years ago, President John F. Kennedy stood not far from where the board is meeting today and prophesied that the work of TVA will never be done and there would always be new places for us to go. He challenged us to ensure that the letters T-V-A would stand for progress, and we take that charge seriously.

“TVA’s performance during the first six months of the fiscal year is evidence of how we are still delivering value to those we serve. We will continue to evolve to meet their needs and support the region’s progress for the next 85 years and beyond.”

The TVA Board approved natural gas agreements that officials said "will help ensure a continued flow of the low-cost fuel to power Valley homes and businesses."


New Hamilton County Businesses

Here are the new business Licenses from the County Clerk's office: ADVANCED PROJECT CONTROLS LASHICA  WOODARD 3 TRAINING   PROJECT CONTROLS PROFESSIONALS  PROJECT CONTROLS SEMINARS 7716 STANDIFER GAP RD CHATTANOOGA TN 37421 ALLEN DANN ALLEN  DANN 3 SHORT TERM RENTAL 1601 MITCHELL AVE APT C CHATTANOOGA TN 37408 AMERICAN ... (click for more)

JHM Anounces Job Promotion, New Hires And New Web Site

JHM CPA firm announces the internal promotion of Linda England to tax partner.  "Linda has been with JHM for 25 years and has extensive experience in the non-profit sector and enjoys serving in the Chattanooga community," officials said. She is currently serving as the secretary for the Chattanooga Tax Practitioners. New hires include Monica Fuqua as client accountant, ... (click for more)

City Placing New Penalties On Use Of Cell Phones In School Zone And By Drivers Under 18

The city is setting new penalties for use of cell phones in school zones.  Drivers 18 and older may not use hand-held devices while in the zones, but they can be on their hands-free units. Another section of an ordinance change would not allow those 18 and under to be talking on a cell phone while driving. That includes even if the device is hands-free. The ordinance ... (click for more)

Rhea Puppy Mill Dogs Slowly Recovering From Years Of Abuse, Neglect

Five days after Watson and 108 other dogs were rescued from a dark, filthy puppy mill in Rhea County, the frightened 12-pound Yorkie mix doesn’t look like the same animal. Watson got lucky; he was one of the 28 puppy mill survivors that wound up at Chattanooga’s Humane Educational Society. There, volunteer groomers from Pet Smart shaved away the heavy, massive tangle of ... (click for more)

Walker County Needs A Board Of Commissioners

On Nov. 6, voters in Walker County, Ga. will vote on a referendum to determine if the county will move to a five person board of commissioners or stay with a sole commissioner form of government. The referendum is the result of several years of debate and discussion within the county. In 2012,  Dr. Paul Shaw, in his attempt to unseat then-Sole Commissioner Bebe Heiskell, ... (click for more)

Roy Exum: The Coach Who Said ‘No’

I couldn’t tell you the first time I met John Gagliardi … 30 years ago? 40? … and I never saw him nearly enough. He was a Division III football coach at some monastery of a place in Minnesota and that’s a long way from the Southeastern Conference. Our orbits rarely overlapped but somewhere down the line we were at the same table for dinner. Once that happened, it seemed like the ... (click for more)