Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 266

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 3
Chunk 266
---
3 included 137 thousand kWh of pre-commercial generation at Paradise CT Units 5-7.  TVA sells power at wholesale rates to local power company customers ("LPCs") that then resell the power to their customers at retail rates.  TVA also sells power to directly served customers, consisting primarily of federal agencies and customers with large or nonstandard loads.  In addition, power exceeding TVA's system needs is sold under exchange power arrangements with certain other power systems. 

The following charts compare TVA's sales of electricity by customer type for the periods indicated:

The following charts show a breakdown of TVA's energy load:

Note

Information included in the charts above was derived from energy usage of directly served customers and customers served by LPCs during calendar year ("CY") 2023, and these graphs will continue to be updated on a CY basis.

41

Weather affects both the demand for TVA power and the price for that power.  TVA uses degree days to measure the impact of weather on its power operations.  Degree days measure the extent to which the TVA system 23-station average temperatures vary from 65 degrees Fahrenheit. 

Degree DaysVariation from NormalChange from Prior Period 2024NormalPercent Variation2023NormalPercent VariationPercent ChangeHeating Degree DaysThree Months Ended December 31983 1,243(20.9)%1,094 1,243 (12.0)%(10.1)%Cooling Degree DaysThree Months Ended December 3189 6145.9 %69 61 13.1 %29.0 %

Sales of electricity increased two percent for the three months ended December 31, 2024, as compared to the same period of the prior year.  The increased sales volume for LPCs and industries directly served was driven primarily by increases within the data processing, hosting, and related services sector.

Financial Results

The following table compares operating results for the three months ended December 31, 2024 and 2023:

Summary Consolidated Statements of Operations(in millions) Three Months Ended December 31 20242023ChangePercent ChangeOperating revenues$2,920 $2,765 $155 5.6 %Operating expenses2,507 2,376 131 5.5 %Operating income413 389 24 6.2 %Other income, net17 23 (6)(26.1)%Other net periodic benefit cost25 23