Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 336

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 336
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 measure supports the effective management of TVA's reputation and ability to achieve desired outcomes and deliver on strategic priorities with stakeholders.

The 2023–2025 performance measures, along with the weighting ascribed to each and actual performance, are shown below.

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Long-Term Incentive MeasuresWeightThreshold(50% Payout)Target(100% Payout)Stretch (5)(200% Payout)ActualNon-Fuel Delivered Cost of Power(1)45%3.443.313.183.39Load Not Served(2)30%4.53.93.23.0External Performance Indicators for the TVA Nuclear Fleet(3)15%94.496.098.682.3Powerful Partnerships Survey(4)10%75.079.083.076.7

Notes

(1)  Non-Fuel Delivered Cost of Power = (Non-Fuel Operating and Maintenance Expense + Base Capital Cost + Interest Expense + Other Expense) / Budgeted Electric Power Sales.  For the 2023-2025 performance cycle, the Non-Fuel Delivered Cost of Power measure will be calculated using an average of the 2023, 2024, and 2025 results.

(2)  Load Not Served = (Percentage of Total Load Not Served) x (Number of Minutes in the Period).  For the 2023-2025 performance cycle, the Load Not Served measure will be calculated using an average of the 2023, 2024, and 2025 results.

(3)  The External Performance Indicators for TVA Nuclear Fleet measure is calculated using a weighted combination of key performance indicators based on standard nuclear industry definitions for station performance, with the maximum obtainable being 100 points. For the 2023-2025 performance cycle, the External Performance Indicators for the TVA Nuclear Fleet measure will be calculated based on 2025 results.

(4)  The Powerful Partnerships Survey measure is conducted among customers, elected officials, business and economic development leaders, and the general

       public in the TVA service area to assess the strength of various stakeholder relationships with TVA. For the 2023-2025 performance cycle, the Powerful

       Partnerships Survey measure will be calculated using an average of the 2023, 2024, and 2025 results.

(5)  The Stretch Payout for the retired CEO is 150 percent.

Consistent with its public power mission