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TVA Board of Directors Establishes Citizens Advisory Group

April 18, 2013

COLUMBIA, Tenn. ― The Tennessee Valley Authority board of directors took action at its meeting Thursday to establish a citizens’ advisory group that will provide additional input and perspective to TVA on energy resources.

“By establishing the Regional Energy Resource Council, TVA will have a formal channel for receiving diverse perspectives on energy issues on a regular basis,” TVA President and CEO Bill Johnson said.

TVA has convened citizens’ advisory groups in the past, including the Regional Resource Stewardship Council, which was created in 2000 to advise TVA on its natural resource stewardship activities. The RRSC members are appointed and serve two year terms.

The new advisory group, RERC, will be formed under the Federal Advisory Committee Act. Membership will include a nominee from each governor in the seven state TVA service area as well as representatives from the Tennessee Valley Public Power Association, local power companies, directly served customers of TVA, business and community members, the academic community and individuals or representatives of organizations on environmental and/or energy issues. The council may have up to 20 members.

The board also approved an extension of a joint ownership agreement and potential lease-purchase transaction with Seven States Power Corp. for TVA to continue to operate and maintain the Southaven Combined Cycle Gas Plant in DeSoto County, Miss. The current agreement between TVA and Seven States, whose ownership includes local power companies served by TVA, was due to expire April 23.

Chief Financial Officer John Thomas reported to the board that revenues of $4.43 billion through February are slightly below plan for fiscal year 2013, but are being offset by lower expenses.

In other action, the board:

  • Approved staff recommendations on the rate review process for local power companies that distribute TVA electricity and guidelines on the use of revenue by local power companies.
  • Approved a supplement to a contract with Day and Zimmerman NPS Inc. for nuclear plant modifications and maintenance.

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.

Media Contact

Gail Rymer, Knoxville, (865) 632-6000
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Investor Contact

TVA Investor Relations, Knoxville, (888) 882-4975
www.tva.com/finance

 

           
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