Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 45

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 15
Chunk 45
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 construction permit that would allow TVA to construct the plant without meeting the requirements set forth in the Clean Air Act’s Prevention of Significant Deterioration program.  Among other things, Appalachian Voices is requesting that the Tennessee Air Pollution Control Board stay the effectiveness of the permit and order TDEC to revoke the permit.  On January 7, 2025, TVA filed a petition to intervene in the administrative proceeding, which was granted on January 15, 2025.

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Small Modular Reactors.  In January 2025, TVA and a consortium of co-applicants applied for a U.S. Department of Energy grant to support the potential development and future deployment of a small modular reactor (“SMR”) at TVA’s Clinch River site.  The potential development and any future deployment of a SMR at the Clinch River site are subject to TVA Board approval.  TVA is following a structured planning process that advances the Clinch River project in phases at which the TVA Board will evaluate and consider approving any next steps.  This funding could support not only the deployment of this first-of-a-kind technology, but also help establish the supply chain for advanced nuclear and support future deployment of the reactor across the United States.  In January 2025, TVA also requested public comment on a draft Supplemental Environmental Impact Statement that addresses the potential environmental effects associated with site preparation, construction, operation, and decommissioning of one SMR, the GE Hitachi Nuclear Energy BWRX-300, at the Clinch River site.

Hurricane Helene

In late September 2024, Hurricane Helene caused significant damage in communities in East Tennessee and Western

North Carolina.  TVA completed inspections at numerous dams, finding no substantial impacts.  TVA is working on debris management at Douglas Reservoir to aid major disaster declarations with the Federal Emergency Management Agency ("FEMA").  TVA anticipates reimbursement from FEMA for this work.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges — Hurricane Helene in the Annual Report.

Corporate Governance

The terms of Beth H. Harwell and Brian E. Noland as members of the TVA Board ended January 3, 2025, with the adjournment of the most recent session of Congress.  Although their terms of office expired May 18, 2024, the TVA Act permitted them to continue to serve as Directors until the end