Company: TVC
Filing Date: 2025-11-13
Form Type: 10-K
Source: 0001376986-25-000056
Chunk: 337

Company: Tennessee Valley Authority
Filing Date: 2025-11-13
Form: 10-K
Item: Item 1
Chunk 337
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, TVA's LTP measures include the results of surveys that assess the external reputation and perception of TVA and TVA's effectiveness in carrying out its mission and strategic objectives.  These measures reflect TVA's focus on meeting or exceeding customer expectations and identifying areas for continuous improvement.

2023–2025 LTP Award Performance Results.  The performance results under the 2023–2025 TVA Long-Term Performance Scorecard are below.  TVA's LTP Scorecard is based on a range of 0 percent to 200 percent for all participants other than the retired CEO and resulted in a payout of 98 percent of target opportunity.  For the retired CEO, TVA's LTP Scorecard is based on a scale of 0 percent to 150 percent, and resulted in an adjusted payout of 83 percent of target opportunity. 

In reviewing the 2023–2025 performance period, the TVA Board considered strong performance in two areas along with below threshold performance for External Performance Indicators for the TVA Nuclear Fleet and slightly below target performance for the Powerful Partnerships Survey.  Below are key highlights for this performance period:

•Strong transmission grid system reliability performance 

•Financial performance

–Remained in sound financial health

–Maintained competitiveness in total effective power rates

–Maintained alignment with debt and long-term financial plan

–TVA's residential customers pay rates lower than those of 80% of the top 100 U.S. utilities

–TVA's industrial customers pay rates lower than those of 90% of the top 100 U.S. utilities 

•Customer relationships

–97% of 153 LPCs have signed 20-year Partnership Agreements with TVA

–Continued active engagement with stakeholders as shown in the Powerful Partnership Survey results just below target

•Continued economic development efforts  

–In 2025, companies announced projected capital investments of over $6.6 billion and are expected to create 9,316 jobs and retain 43,254 jobs

•Lower than threshold External Performance Indicators for the TVA Nuclear Fleet due to unplanned outages and derates at all sites. 

Based on overall performance for the 2023–2025 LTIP cycle, the TVA Board approved the calculated payout of 98 percent for all participants, except for the retired CEO.  For the retired CEO, the TVA Board approved the calculated payout of 83 percent, which reflects the LTP Scorecard range of 0 percent to