Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 99

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 99
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WRX-300, at the Clinch River site.  In the third quarter of 2025, TVA submitted a construction permit application to the Nuclear Regulatory Commission ("NRC") for a BWRX-300 reactor at the Clinch River Nuclear Site.  In July 2025, the NRC completed the acceptance review of the application and accepted the application.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges —  Optimum Energy Portfolio —  Small Modular Reactors in the Annual Report.

Automated Energy Exchange Platform.  In July 2023, the D.C. Circuit remanded FERC’s approval of the Southeast Energy Exchange Market (“SEEM”), sending the matter back to FERC for additional proceedings. On March 14, 2025, after further review of the record, FERC affirmed its approval of SEEM.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges —  Optimum Energy Portfolio —  Automated Energy Exchange Platform in the Annual Report.

Extreme Flooding Preparedness

Since 2009, TVA has performed further hydrology modeling of portions of the TVA watershed using updated modeling tools.  TVA submitted updated hydrology models to the NRC incorporating an approved methodology for Watts Bar Nuclear Plant Units 1 and 2 in December 2023.  The new hydrologic analysis was approved by the NRC in May 2025.

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Sequoyah Nuclear Plant Unit 2

Sequoyah Unit 2 tripped on July 30, 2024, due to failure of the main generator.  As a result, the project to restack and rewind the main generator was pulled forward in the Nuclear Life Extension plan.  In June 2025, the unit returned to service and, as of June 30, 2025, TVA had spent $133 million related to this project and expects to spend an additional $8 million.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges — Sequoyah Nuclear Plant Unit 2 in the Annual Report.

Hurricane Helene

In late September 2024, Hurricane Helene caused significant