TVA's threefold mission includes power production, environmental stewardship, and economic development. Learn about TVA's services, its customers and partners, and its successes in those three areas of responsibility by clicking on the tabs at the top of the box below.
Financial Highlights
For the years ended September 30 (in millions)
2004
2003
Percent Change
Summary statements of income
Operating revenues
$ 7,533
$ 6,953
8
Operating expenses
(5,873)
(5,398)
9
Operating income
1,660
1,555
7
Other income, net
37
29
28
Unrealized losses on derivative contracts, net
(7)
(7)
-
Interest expense, net
(1,304)
(1,350)
(3)
Cumulative effect of accounting changes, net
-
217
NM*
Net income
$ 386
$ 444
(13)
Power System Statistics
At September 30 or for the years ended September 30, as appropriate
2004
2003
Percent Change
System input (millions of kilowatt-hours)
System generation
Hydro, including pumped storage
13,916
16,103
(14)
Fossil
94,648
90,975
4
Nuclear
46,003
43,167
7
Combustion turbine
278
817
(66)
Green power
18
15
20
Total net generation
154,863
151,077
3
Purchased
15,148
15,760
(4)
Total system input
170,011
166,837
2
System output (millions of kilowatt-hours)
Sales
Municipalities and cooperatives
133,161
130,769
2
Industries directly served
29,344
27,756
6
Federal agencies and other
3,353
3,009
11
Total sales
165,858
161,534
3
Other
1,378
1,902
(28)
Losses
2,775
3,401
(18)
Total system output
170,011
166,837
2
Winter net dependable capacity (megawatts)
33,189
31,658
5
System peak load (megawatts) – summer
29,966
28,530
5
System peak load (megawatts) – winter
27,997
29,866
(6)
Annual load factor (percent)
64.2
63.2
2
Number of employees at September 30
12,742
13,379
(5)
Percent winter dependable capacity by fuel source
Fossil
50%
49%
-
Nuclear
19%
19%
-
Hydro
16%
17%
-
Combustion turbine
15%
15%
-
Beginning with the 2004 Information Statement and Annual Report, TVA is presenting
consolidated
financial statements
that include both power and nonpower activities.
