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Chairman
Crowell presides at an Executive Meeting, with Chief Financial Officer
David Smith (far left) and President and Chief Operating Officer
Ike Zeringue. |
As always, TVA
is more than a power company. In the nearly seven decades since its
creation, TVA has been guided by the higher purpose of serving the public
and promoting economic growth in the Tennessee Valley. In laying the
foundation for a better quality of life, TVA continues to build on its
bedrock vision for generating economic prosperity in the Valley.
TVA will continue
to be an advocate for the public good, ensuring that the benefits of
electric utility restructuring accrue to all consumers, including those
in rural areas of little interest to profit-oriented utilities. TVA
will also continue to be a good steward for the environment, preserving
and protecting the natural resources with which our region has been
so abundantly blessed.
With the creation
of the Public Power Institute, TVA will develop technologies and address
national issues of air quality, renewable energy supply, and efficient
energy production and use. The Institute is an extension of TVA’s
commitment to public power and the environment and a symbol of the high
standards TVA sets for the electric utility industry.
For most electric
utilities, megawatts are yardsticks by which they measure their own
economic performance. For TVA, the nation’s largest wholesale producer
of electric power, energy production has always been a means to a much
greater end.
Now more than ever,
electricity is the energy of choice, and TVA is working to be the supplier
of choice in the Tennessee Valley region. It is a leadership role we
embrace as we look toward the new millennium and the challenges and
opportunities it will bring.
In January 1999
Director Johnny Hayes resigned to join the Gore 2000 presidential campaign.
In May, Director Bill Kennoy completed his eight-year term of office.
It was a great pleasure to serve with both of them.
In November 1999
Skila Harris and Glenn L. McCullough Jr. were confirmed by the U.S.
Senate as TVA directors. Director Harris will serve a term ending in
2008. Director McCullough, who assumed the remaining term of Johnny
Hayes, will serve until 2005.
Director Harris,
a Kentucky native, has more than 12 years of experience in the energy
industry, including work with the U.S. Department of Energy. Director
McCullough’s credentials in economic development include leadership
roles in state and local economic development efforts and his recent
responsibilities as mayor of Tupelo, Mississippi.
Together they bring
to the Board a unique blend of expertise and diversity that supports
TVA’s vision of generating prosperity in the Valley. We welcome
Skila and Glenn at a time when—thanks to the dedicated efforts
of our employees—TVA is fiscally sound, our rates are stable, and
our power system continues to set records while meeting unprecedented
demands for public power.
I look forward
to working with Skila and Glenn in preparing TVA for the opportunities
of doing business in the restructured marketplace of the future.•
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