Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 285

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 2
Chunk 285
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, 2025, had contributed $225 million.  The remaining $75 million will be contributed by September 30, 2025.  For the nine months ended June 30, 2025, TVA also contributed $19 million (net of $4 million in rebates) to the other post-retirement plans and $10 million to the SERP.  In addition, TVA recognized 401(k) contribution costs of $95 million for the nine months ended June 30, 2025. 

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

20. Collaborative ArrangementIn 2023, TVA, Ontario Power Generation, BWRX TCA sp. z.o.o., and GE Hitachi Nuclear Energy ("GEH") entered into a multi-party collaborative arrangement to advance the global deployment of the GEH BWRX-300 small modular reactor.  GEH is responsible for standard design development.  Under the agreement, TVA will contribute up to $93 million for design costs incurred by GEH through 2026.  At the time feasibility is determined, TVA will have the right to use the design and may receive additional economic benefits.Payments pursuant to the agreement are recorded as research and development expense, which is reflected as Operating and maintenance expense on TVA's Consolidated Statement of Operations in the period incurred.  TVA recorded no expenses related to this agreement for the three months ended June 30, 2025 and $12 million of expenses for the three months ended June 30, 2024.  TVA recorded $10 million and $29 million of expenses related to this agreement for the nine months ended June 30, 2025 and 2024, respectively.  TVA also had a $6 million letter of credit posted under this arrangement at June 30, 2025.

 21.  Contingencies and Legal Proceedings 

Contingencies Nuclear Insurance.  Section 170 of the Atomic Energy Act, commonly known as the Price-Anderson Act, provides a layered framework of financial protection to compensate for liability claims of members of the public for personal injury and property damages arising from a nuclear incident in the U.S.  This financial protection consists of two layers of coverage.  The primary level is private insurance underwritten by American Nuclear Insurers and provides public liability insurance coverage of $500 million for each nuclear