Steve Byone Named TVA Vice President and Controller

September 14, 2009

KNOXVILLE, Tenn. – Steve Byone of the Electric Reliability Council of Texas is joining TVA as vice president and controller effective Sept. 28.

Byone will be responsible for development and maintenance of TVA accounting policies, compliance with Securities and Exchange Commission reporting requirements, including disclosures, internal controls, and financial reports; and ensuring consistency with TVA financial policy.

Byone succeeds John M. Thomas III as vice president and controller. Thomas was named controller in 2007 and has been serving dual roles since also being named senior vice president of Corporate Governance and Compliance in July. Going forward, Thomas will concentrate exclusively on his new duties to help transform TVA into a more effective and efficient company.

“We are pleased to have Steve joining TVA to fill this role. Steve’s skills and experiences in the electric utility industry are outstanding,” said Kim Greene, TVA chief financial officer and executive vice president of Financial Services.

Byone has been serving as vice president and chief financial officer for the Electric Reliability Council of Texas (ERCOT), which operates the electric power grid and manages the market for about 85 percent of the state’s electric power. Serving in that role since 2005, Byone is responsible for providing strategic direction and operational oversight of ERCOT’s finance, accounting, reporting, procurement, credit and risk management activities. Prior to that, he was vice president and chief risk officer for Progress Energy in Raleigh, N.C.

Byone’s office will be in Knoxville.

TVA is the nation’s largest public power provider and is completely self-financing. TVA provides power to large industries and 158 power distributors that serve approximately 9 million consumers in seven southeastern states. TVA also creates economic development opportunities and manages the Tennessee River and its tributaries to provide multiple benefits, including flood damage reduction, navigation, water quality and recreation.

Media Contact

Scott Brooks, Knoxville, (865) 632-8031
TVA News Bureau, Knoxville, (865) 632-6000

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