tva.gov - TVA FY19 Budget Maintains Focus on Providing Long-Term Value to the Valley

TVA - TVA FY19 Budget Maintains Focus on Providing Long-Term Value to the Valley

Tva.gov Spined HTML

TVA - TVA FY19UpkeepMaintains Focus on Providing Long-Term Value to the Valley Javascript must be enabled for the correct page exhibit Skip to main content Toggle navigation Tennessee Valley Authority SearchWell-nighTVA Newsroom Careers Investors Energy Energy EnergyRight® Solutions Valley Renewable Energy Our Power System Transmission Technology Innovation Public Power Partnerships Environment Environment Environmental StewardshipInflowingManagement Lake Levels Recreation Shoreline Construction Permits Managing the River EconomicMinutiaeEconomicMinutiaeAttract Engage Serve Our Team Share this page You are here: Home Newsroom Press Releases TVA FY19UpkeepMaintains Focus on Providing Long-Term Value to the Valley August 22, 2018 KNOXVILLE, Tenn. ― The Tennessee Valley AuthorityWorkbenchof Directors today tried a $10.55 billion upkeep for the upcoming fiscal year, which begins Oct. 1, 2018. The upkeep continues to uncurl with TVA’s long-range financial plan implemented in 2013, seeking to wastefulness wanted improvements and financial health with debt reduction and minimizing the impact on rates. It remoter reduces TVA operating and maintenance spending from FY18 levels while maintaining funds for wanted resurgence and standing the process of debt reduction. “The nonflexible work and focus of TVA’s employees has unceasingly kept us on undertow for largest financial and operational performance, and we are seeing those efforts in our results,” said TVA President and CEO Bill Johnson. “Our FY19 upkeep reflects our ongoing transferral to serve the people of the Valley with safe, reliable and increasingly cleaner power at the lowest feasible rates.” The upkeep clearance contained a 1.5 percent constructive retail rate increase, slightly unelevated the rate of inflation, amounting to well-nigh $1.78 increasingly a month for the stereotype Valley resident using 1,000 kilowatt-hours per month. The increase will take effect on Oct. 1, 2018. “In FY19, we enter the sixth year of our long-range financial plan that outlined wanted investments in resources to diversify and maintain our fleet, fuel forfeit savings and a reduction in overall debt. The plan moreover calls for lower operating and maintenance costs, which have been achieved through the work of our employees,” said TVA Chief Financial Officer John Thomas. “The wholesomeness to this tideway becomes unveiled when looking at our results. Rates today remain among the lowest 25 percent in the U.S. and TVA’s wholesale rates are substantially the same as they were in 2013. During that same period, we’ve been worldly-wise to reliably generate cleaner energy with lower fuel financing while whence to reduce our debt.” In other business, the workbench approved: FY19 corporate performance goals and scorecards that protract to emphasize safety, financial health, operational excellence and economic development. FY18 tax equivalent payments to the eight states impacted by TVA’s operations that are seven percent higher than FY17. A public lands protection policy to largest protect the lands entrusted to TVA’s care. Entering into agreements to obtain an unobjectionable and secure supply of low enriched uranium nuclear fuel. A contract with WESCO Distribution for supplies and legalistic services. A contract with HSA Bank for health savings worth wardship services. Selection of an external auditor for FY19. A pilot program to modify the board’s public listening session format whence with its next meeting in Nov. 2018. The Tennessee Valley Authority is a corporate organ of the United States that provides electricity for merchantry customers and local power distributors serving increasingly than 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In wing to operating and investing its revenues in its electric system, TVA provides inflowing control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic minutiae and job creation. Contact Jim Hopson TVA Public Relations, Knoxville, (865) 632-6000 tvainfo@tva.gov (865) 632-8860 Employees and Retirees TVA Kids DoingMerchantryWith TVA TVA Privacy Policy Freedom of Information Act Legal Notices Information Quality No Fear Act Data Equal Employment Opportunity Policy Accessibility Information Inspector General TVA Police Energy Environment EconomicMinutiaeNewsroom CareersWell-nighInvestor Relations Facebook Twitter Instagram YouTube LinkedIn Flickr Tennessee Valley Authority 400 West Summit Hill Drive  Knoxville TN 37902 (865) 632-2101 tvainfo@tva.com Back to top