Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 209

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 209
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 a result of less availability of nuclear generation and higher effective fuel rates.  There was a $100 million increase in Operating and maintenance expense primarily due to increases in payroll and benefit costs related to severance costs associated with Enterprise Transformation Program ("ETP") efforts and labor escalation for cost of living increases and an increase in nuclear outage days.  In addition, Depreciation and amortization expense increased $98 million primarily as a result of increases in the amortization expense of finance leases and amortization expense of decommissioning costs recovered in rates, the decision to retire Kingston Fossil Plant ("Kingston"), and additions to net completed plant.

Pre-commercial plant operations began on Johnsonville Aeroderivative combustion turbine ("CT") Units 25-28 in the first quarter of 2025 and began on Units 21-24 and 29-30 in the second quarter of 2025.  Units 21-25 and 27-30 became operational on May 6, 2025.

On January 22, 2025, TVA reached an all-time record high peak power demand of approximately 35,430 megawatts ("MW").  This peak was over 800 MW greater than TVA's previous all-time peak set in January 2024.

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

Results of Operations 

Sales of Electricity

Sales of electricity were 39,751 million and 39,342 million kilowatt hours ("kWh") for the three months ended June 30, 2025 and 2024, respectively.  Sales of electricity were 120,527 million and 117,313 million kWh for the nine months ended June 30, 2025 and 2024, respectively.  The total sales of electricity during the nine months ended June 30, 2025 included 94 thousand kWh of pre-commercial generation at Johnsonville Aeroderivative CT Units 21-30, of which 35 thousand kWh was recognized in the three months ended June 30, 2025.  The total sales of electricity during the nine months ended June 30, 2024 included 137 thousand kWh of pre-commercial generation at Paradise CT Units 5-7, all of which was recognized in the three months ended December 31, 2023.  TVA sells power at wholesale rates to local power company customers ("LPCs") that