Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 62

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 15
Chunk 62
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 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. 

On July 4, 2025, the President signed into law the budget reconciliation bill referred to as the One Big Beautiful Bill Act ("Act").  Among other things, the Act introduces significant changes to a range of federal tax credit programs under the IRA, many of which are directly relevant to TVA’s ongoing and planned energy initiatives.  These changes include terminations, modifications, and new restrictions on various clean energy and efficiency credits and could directly affect the financial viability of clean-energy alternatives and the cost or availability of power acquired through solar PPAs.  TVA continues to evaluate its energy portfolio to actively develop long-term plans to take into consideration these changes, which may impact future decisions related to the mix of energy sources TVA utilizes.  TVA is currently evaluating the impact of these legislative changes. 

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Table of Contents                               Draft 4.0                    07/24/2025 5:00 PM

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 Environmental Protection Agency ("EPA") Administrator announced that EPA will reconsider 31 rules, including (