Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 221

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part II, Item 3
Chunk 221
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Table of Contents                               

3.  Accounts Receivable, Net 

Accounts receivable primarily consist of amounts due from customers for power sales.  The table below summarizes the types and amounts of TVA's accounts receivable:Accounts Receivable, Net(in millions) At December 31, 2024At September 30, 2024Power receivables$1,569 $1,683 Other receivables140 118 Accounts receivable, net(1)$1,709 $1,801 Note(1)  Allowance for uncollectible accounts was less than $1 million at both December 31, 2024, and September 30, 2024, and therefore is not represented in the table above.

4.  Inventories, Net 

The table below summarizes the types and amounts of TVA's inventories:Inventories, Net(in millions) At December 31, 2024At September 30, 2024Materials and supplies inventory$954 $931 Fuel inventory310 286 Renewable energy certificates/emissions allowance inventory, net10 11 Allowance for inventory obsolescence(76)(73)Inventories, net$1,198 $1,155 

5. Other Current Assets

Other current assets consisted of the following:Other Current Assets (in millions) At December 31, 2024At September 30, 2024Prepaid software maintenance$43 $22 Inventory work-in-progress42 41 Prepaid insurance23 19 Commodity contract derivative assets17 5 Current portion of prepaid long-term service agreements13 7 Prepaid cloud assets8 13 Other13 13 Other current assets$159 $120 

Commodity Contract Derivative Assets.  See Note 13 — Risk Management Activities and Derivative Transactions — Derivatives Not Receiving Hedge Accounting Treatment — Commodity Derivatives and — Commodity Derivatives under the FHP for a discussion of TVA's commodity contract derivatives. 

6.  Plant Closures 

BackgroundTVA must continuously evaluate all generating assets to ensure an optimal energy portfolio that provides safe, clean, and reliable power while maintaining flexibility and fiscal responsibility to the people of the Tennessee Valley. In January 2023, TVA issued its Record of Decision to retire the two coal-fired units at Cumberland Fossil Plant ("Cumberland") by