Fiscal Year 2011 Performance
The Tennessee Valley Authority faced a number of challenges in fiscal year 2011 but continued to make major strides toward TVA’s vision to a be a national leader in cleaner, low-cost energy by 2020. The overall result was a good performance.
TVA evaluates annual performance based on industry comparisons, its historic role and mission to the people of the Tennessee Valley and the six strategic areas of the TVA vision: low rates, high reliability, responsibility, cleaner air, more nuclear generation and greater energy efficiency.
- TVA published a comprehensive Integrated Resource Plan that will provide an energy roadmap for the next two decades, supporting TVA’s vision of a cleaner, more diversified energy portfolio.
- TVA marked a 12th consecutive year of serving customers with 99.999 percent reliability and recovered from one of the nation’s most devastating tornado outbreaks in April.
- As construction of the John Sevier Combined Cycle Gas Plant neared completion,TVA directors agreed to finish Bellefonte Nuclear Unit 1 and buy Magnolia Combined Cycle Gas Plant.
- Under environmental agreements with federal and state regulators, TVA will reduce air emissions by retiring 18 older coal-fired units by 2017 and will convert, idle or retire 16 more by 2019. Seven units were idled in 2011.
- For a seventh straight year, TVA was named among Site Selection magazine's top 10 North American utilities for achievement in economic development.
- TVA continued its best-in-class workplace safety performance and employee scores on organizational health index surveys improved.
- TVA surpassed its annual energy efficiency goal, achieving 559 gigawatt-hours of energy savings, the equivalent to the energy used by 35,000 homes. And TVA’s home energy review program marked its 25,000th in-home audit.
- TVA has begun a transition to time-of-use rates, which will provide greater incentives for customers to save money by shifting their energy use away from expensive, peak power periods.
- A “red finding” has prompted increased Nuclear Regulatory Commission scrutiny at Browns Ferry Nuclear Plant.
- The construction schedule slipped on Watts Bar Nuclear Unit 2, and five nuclear reactors had outages for refueling