Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 280

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 3
Chunk 280
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96, “Revitalizing Our Nation's Commitment to Environmental Justice for All.”  In addition, on January 21, 2025, the Office of Management and Budget issued Memorandum M-25-11, which requires agencies to immediately pause disbursement of certain funds appropriated under the IRA or the BIL, which 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 TVA is currently reviewing these actions.

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.

Cleanup of Solid and Hazardous Wastes

Coal Combustion Residuals.  In August 2015, TDEC issued an order that includes an iterative process through which TVA and TDEC will investigate, assess, and remediate any unacceptable risks resulting from coal combustion residual (“CCR”) management and disposal at TVA CCR units in the State of Tennessee.  As part of this process, TVA has submitted environmental assessment reports (“EARs”) to TDEC, and after the EARs are approved, TVA will submit Corrective Action/Risk Assessment (“CARA”) Plans that will identify the unacceptable risks and TVA's proposed remediation.  TDEC will review the CARA Plans and provide comments, and TVA will make revisions to address TDEC's comments until TDEC approves a final CARA Plan for each site.  The public also will have an opportunity to review and comment on each CARA Plan prior to TDEC's approval of the final plan.  TDEC approved the EAR for Bull Run Fossil Plant ("Bull Run") on November 15, 2024, and TVA 

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submitted the initial draft of the Bull Run CARA Plan to TDEC in January 2025.  See Part I, Item I, Business — Environmental Matters — Cleanup of Solid and Hazardous Wastes — Coal Combustion Residuals in the Annual Report. 

Legal Proceedings

From time to time, TVA is party to or otherwise involved in lawsuits, claims, proceedings, investigations, and other legal matters ("Legal Proceedings") that have arisen in the ordinary course of conducting its activities.  As of December 31, 2024, TVA had accrued $11 million with respect to Legal Proceedings.  No assurance can be given that TV