Company: TVC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001376986-25-000029
Chunk: 420

Company: Tennessee Valley Authority
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 5
Chunk 420
---
, 2025, as compared to the same period of the prior year.  The increase was primarily driven by an increase of $25 million related to amortization expense of finance leases and amortization expense of decommissioning costs recovered in rates and an increase in depreciation expense of $20 million related to the decision in April 2024 to retire Kingston. Additionally, there was an increase due to depreciation of additions to net completed plant.  

Tax equivalents expense increased $30 million for the six months ended March 31, 2025, as compared to the same period of the prior year.  This change is primarily driven by an increase in TVA's revenue from sales of electricity in 2024, which is used as the basis for calculating tax equivalent expense.

48

Table of Contents                               Draft 4.0                    04/24/2025 5:00 PM

Generating Sources.  The following tables show TVA's generation and purchased power by generating source as a percentage of all electrical power generated and purchased (based on kWh) for the periods indicated.

Total Power Supply by Generating SourceFor the three months ended March 31(millions of kWh) 20252024Natural gas and/or oil-fired(1)12,362 28 %8,659 21 %Nuclear11,911 27 %16,455  40 %Coal-fired6,282 15 %5,623  14 %Hydroelectric3,887 9 %4,735  11 %Total TVA-operated generation facilities(2)(3)34,442 79 %35,472  86 %Purchased power (natural gas and/or oil-fired)(4)4,789 11 %3,021 7 %Purchased power (other renewables)(5)1,762 4 %1,473 4 %Purchased power (coal-fired)1,427 3 %313 1 %Purchased power (hydroelectric)1,056 3 %833 2 %Total purchased power(3)9,034 21 %5,640 14 %Total power supply43,476 100 %41,112 100 % 

Notes

(1)  The generation for the three months ended March 31, 2025 includes 49 thousand kWh of pre-commercial generation at Johnsonville Aeroderivative CT Units