Company: TVC
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001376986-25-000011
Chunk: 65

Company: Tennessee Valley Authority
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 2
Chunk 65
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 On October 11, 2024, the Sixth Circuit issued an order staying the permit in both cases until the court can review the merits of these cases.  The Sixth Circuit heard oral arguments on the merits on December 10, 2024, but has not yet issued a ruling.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges —  Optimum Energy Portfolio —  Natural Gas-Fired Units in the Annual Report.

TVA is constructing 1,500 MW of natural gas generation at TVA's Kingston site that is expected to be operational by the end of CY 2027.  As of December 31, 2024, TVA had spent $1.1 billion on this project.  See Part II, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations — Key Initiatives and Challenges — Natural Gas-Fired Units in the Annual Report.

On December 16, 2024, the Southern Environmental Law Center filed an appeal on behalf of Appalachian Voices challenging the construction permit that the Division of Air Pollution Control of the Tennessee Department of Environment and Conservation (“TDEC”) issued to TVA on November 15, 2024, for the construction of new natural gas generation at Kingston.  Appalachian Voices alleges that TDEC unlawfully issued a construction permit that would allow TVA to construct the plant without meeting the requirements set forth in the Clean Air Act’s Prevention of Significant Deterioration program.  Among other things, Appalachian Voices is requesting that the Tennessee Air Pollution Control Board stay the effectiveness of the permit and order TDEC to revoke the permit.  On January 7, 2025, TVA filed a petition to intervene in the administrative proceeding, which was granted on January 15, 2025.

48

Small Modular Reactors.  In January 2025, TVA and a consortium of co-applicants applied for a U.S. Department of Energy grant to support the potential development and future deployment of a small modular reactor (“SMR”) at TVA’s Clinch River site.  The potential development and any future deployment of a SMR at the Clinch River site are subject to TVA Board approval.  TVA is following a structured planning process that advances the Clinch River project in phases at which the TVA Board will evaluate and consider approving any next steps.  This funding could support not only the deployment of this first-of-a-kind