Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 59

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 15
Chunk 59
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 agencies to pause the disbursement of funds appropriated under the IRA and BIL.  On January 21, 2025, the Office of Management and Budget issued Memorandum M-25-11, which clarified that EO 14154 requires agencies to pause disbursement of funds appropriated under the IRA or the BIL only for programs that are inconsistent with the policy of section 2 of EO 14154, related to the Green New Deal, including consumer mandates on electric vehicles and appliances.  While the IRA and BIL funding freeze under EO 14154 likely does not apply to funding that TVA is seeking, other governmental actions and funding restrictions may delay any award of grants for which TVA has applied under these acts.  Furthermore, President Trump and the Administration have taken a number of other actions that may impact TVA, and multiple court decisions may affect the implementation of these actions.  TVA is currently reviewing these actions and related court decisions to evaluate the impact to TVA and is updating its policies and programs as appropriate. 

Environmental Matters

There have been no material changes to the environmental matters described in Part I, Item 1, Business — Environmental Matters of the Annual Report, except as described below.

General

On January 20, 2025, President Trump issued an EO that revoked a number of EOs, including the following EOs discussed in Part I, Item 1, Business — Environmental Matters — Climate Change — Executive Actions in the Annual Report: (1) EO 13990, "Protecting Public Health and the Environment and Restoring Science To Tackle the Climate Crisis"; (2) EO 14008, "Tackling the Climate Crisis at Home and Abroad”; (3) EO 14030, “Climate-Related Financial Risk”; (4) EO 14057, "Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability"; (5) EO 14082, “Implementation of the Energy and Infrastructure Provisions of the Inflation Reduction Act of 2022”; and (6) EO 14096, “Revitalizing Our Nation's Commitment to Environmental Justice for All.” 

On March 12, 2025, the EPA Administrator announced that EPA will reconsider 31 rules, including (1) regulations on power plants, (2) Mercury and Air Toxics Standards, (3) steam electric effluent limitation guidelines, (4) National Ambient Air Quality Standards for particulate matter, (5) regulations regarding regional haze, (6)