The Tennessee Valley Authority reported a strong start to the fiscal year during a conference call discussing their first quarter financial results earlier this week.
Breaking down the numbers, the TVA reported $2.9 billion in total operating revenues on 38 billion kilowatt-hours of electricity sales for the three months ending on December 31, which means total operating revenues increased 5.6 percent. That’s likely due to high base rates and higher sales volumes during that time frame.
Fuel and purchased power expense was $44 million higher in the first three months of fiscal year 2025 over the same period of the prior year, primarily due to higher coal prices and lower availability of nuclear generation.
Outgoing CEO and President Jeff Lyash says they hope to see nuclear generation increase in the coming years to help with ever-growing demand, and the TVA is looking to lead the charge.
He says he expects the TVA will continue to meet record-breaking challenges, from extreme colds to unprecedented heat waves.
Sadly, Lyash will not be around at the TVA to see it—he has announced his intent to retire, though he is staying on board until his replacement is found. Lyash says the last six years has been an honor, and one thing he does know as that the TVA will continue work to provide reliable, affordable electricity to the areas they serve.
For the first quarter of fiscal year 2025, 50 percent of TVA’s power supply was carbon-free — coming from nuclear, hydroelectric, solar and wind.