Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 257

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 257
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 during pre-commercial operations at Johnsonville Aeroderivative CT Units 21-30 in the six months ended March 31, 2025 and Paradise CT Units 5-7 in the six months ended March 31, 2024, all of which was recognized in the three months ended December 31, 2023.  

Operating revenues increased $378 million for the three months ended March 31, 2025, as compared to the same period of the prior year, primarily due to a $266 million increase in base revenue.  The $266 million increase in base revenue was driven by a $161 million increase attributable to higher sales volume and a $105 million increase attributable to higher effective base rates.   The higher sales volume was driven primarily by increases within the data processing, hosting, and related services sector and an increase in heating degree days.  The increase in effective base rates was primarily due to the TVA Board action to approve a 5.25 percent wholesale base rate increase effective October 1, 2024.  In addition, there was a $120 million increase in fuel cost recovery revenue driven by a $71 million increase attributable to higher effective fuel rates and a $49 million increase attributable to higher sales volume.  The higher fuel rates were due primarily to using higher cost coal and natural gas generation due to less availability of nuclear generation as compared to the same period of the prior year.

Operating revenues increased $533 million for the six months ended March 31, 2025, as compared to the same

period of the prior year, primarily due to a $362 million increase in base revenue.  The $362 million increase in base revenue was driven by a $202 million increase attributable to higher sales volume and a $160 million increase attributable to higher effective base rates.  The higher sales volume was driven primarily by increases within the data processing, hosting, and related services sector and an increase in heating degree days.  The increase in effective base rates was primarily due to the TVA Board action to approve a 5.25 percent wholesale base rate increase effective October 1, 2024.  In addition, there was a $167 million increase in fuel cost recovery revenue driven by a $103 million increase attributable to higher effective fuel rates and a $64 million increase attributable to higher sales volume.  The higher fuel rates were due primarily to using higher cost coal and natural gas generation due to less availability of nuclear generation as compared to the same period of the prior year.

See Sales of Electricity above