Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 23

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 15
Chunk 23
---
 Agreement.The number of LPCs by contract arrangement, the revenues derived from such arrangements for the three and six months ended March 31, 2025, and the percentage those revenues comprised of TVA's total operating revenues for the same period, are summarized in the table below:TVA Local Power Company ContractsAt or for the Three Months Ended March 31, 2025Contract Arrangements(1)Number of LPCs Revenue from Sales of Electricity to LPCs(in millions)Percentage of Total Operating Revenues20-year termination notice148 $2,799 79.2 % 5-year termination notice5 400 11.3 %Total153 $3,199 90.5 %Note(1)  Ordinarily, the LPCs and TVA have the same termination notice period; however, in a contract with one of the LPCs with a five-year termination notice, TVA has a   10-year termination notice (which becomes a five-year termination notice if TVA loses its discretionary wholesale rate-setting authority).  Certain LPCs have five-year termination notices or a shorter period if any act of Congress, court decision, or regulatory change requires or permits that election.TVA Local Power Company ContractsAt or for the Six Months Ended March 31, 2025Contract Arrangements(1)Number of LPCs Revenue from Sales of Electricity to LPCs(in millions)Percentage of Total Operating Revenues20-year termination notice148 $5,071 78.6 % 5-year termination notice5 744 11.5 %Total153 $5,815 90.1 %Note(1)  Ordinarily, the LPCs and TVA have the same termination notice period; however, in a contract with one of the LPCs with a five-year termination notice, TVA has a   10-year termination notice (which becomes a five-year termination notice if TVA loses its discretionary wholesale rate-setting authority).  Certain LPCs have five-year termination notices or a shorter period if any act of Congress, court decision, or regulatory change requires or permits that election.TVA's two largest LPCs — Memphis Light, Gas and Water Division ("MLGW") and Nashville Electric Service ("NES") — have contracts with a five-year and a 20-year termination notice period, respectively.  Sales to MLGW and NES accounted for seven percent and eight percent, respectively, of TVA's total operating revenues for both the six months ended March 31