Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 192

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 2
Chunk 192
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 at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which TVA is entitled for the energy delivered.The amount of revenue is based on contractual prices approved by the TVA Board.  Customers are invoiced monthly for power delivered as measured by meters located at the delivery points.  The net transaction price is offset by certain credits available to customers that are known at the time of billing.  Examples of credits include items such as economic development credits to promote growth in the Tennessee Valley and demand response credits allowing TVA to reduce industrial customer usage in periods of peak demand to balance system demand.  Payments are typically due within approximately one month of invoice issuance.Other RevenueOther revenue consists primarily of wheeling and network transmission charges, sales of excess steam that is a by-product of power production, delivery point charges for interconnection points between TVA and the customer, Renewable Energy Certificate sales, and certain other ancillary goods or services.  

34

Disaggregated RevenuesDuring the three months ended December 31, 2024, revenues generated from TVA's electricity sales were $2.9 billion, and accounted for virtually all of TVA's revenues.  TVA's operating revenues by state for the three months ended December 31, 2024 and 2023, are detailed in the table below:Operating Revenues By State(in millions)Three Months Ended December 31 20242023Alabama$431 $408 Georgia74 69 Kentucky182 177 Mississippi269 255 North Carolina21 23 Tennessee1,886 1,789 Virginia12 11 Subtotal2,875 2,732 Off-system sales1 2 Revenue capitalized during pre-commercial plant operations(1)— (3)Revenue from sales of electricity2,876 2,731 Other revenue44 34 Total operating revenues$2,920 $2,765 Note(1)  Represents revenue capitalized during pre-commercial operations at Johnsonville Aeroderivative CT Units 25-28 in the three months ended December 31, 2024 and Paradise CT Units 5-7 in the three months ended December 31, 2023.  Revenue capitalized at Johnsonville Aeroderivative was less than $1 million for the three months ended December 31, 2024.TVA's operating revenues by customer type for the three months ended December 31, 2024 and 2023, are detailed in the table below