Company: TVC
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001376986-25-000044
Chunk: 280

Company: Tennessee Valley Authority
Filing Date: 2025-07-29
Form: 10-Q
Item: Part II, Item 2
Chunk 280
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 during pre-commercial plant operations(1)(1)— (3)(3)Revenue from sales of electricity3,261 2,830 9,613 8,654 Other revenue45 49 145 144 Total operating revenues$3,306 $2,879 $9,758 $8,798 Note(1)  Represents revenue capitalized during pre-commercial operations at Johnsonville Aeroderivative CT Units 21-30 in the three and nine months ended June 30, 2025 and Paradise CT Units 5-7 in the nine months ended June 30, 2024, all of which was recognized in the three months ended December 31, 2023. TVA's operating revenues by customer type for the three and nine months ended June 30, 2025 and 2024, are detailed in the table below:Operating Revenues by Customer Type(in millions)Three Months Ended June 30Nine Months Ended June 30 2025202420252024Revenue from sales of electricity  Local power companies$2,967 $2,596 $8,782 $7,925 Industries directly served259 205 734 642 Federal agencies and other36 29 100 90 Revenue capitalized during pre-commercial plant operations(1)(1)— (3)(3)Revenue from sales of electricity3,261 2,830 9,613 8,654 Other revenue45 49 145 144 Total operating revenues$3,306 $2,879 $9,758 $8,798 Note(1) Represents revenue capitalized during pre-commercial operations at Johnsonville Aeroderivative CT Units 21-30 in the three and nine months ended June 30, 2025 and Paradise CT Units 5-7 in the nine months ended June 30, 2024, all of which was recognized in the three months ended December 31, 2023.  TVA and LPCs continue to work together to meet the changing needs of consumers around the Tennessee Valley.  In 2019, the TVA Board approved a partnership agreement option that better aligns the length of LPC power contracts with TVA's long-term commitments.  Under the partnership arrangement, the LPC power contracts automatically renew each year and have a 20-year termination notice.  The partnership arrangements can be terminated under certain circumstances, including TVA’s failure to limit rate increases to no