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TVA Posts Loss

Posted by WCBI News Director | August 03, 2012 / 11:12am | Local News
KNOXVILLE, Tenn. (AP) - Officials with the Tennessee Valley Authority say hot weather from April to June led to a five percent increase in operating revenue.
The heat wave sent temperatures across the seven-state region soaring above 100 degrees for four straight days.
However, TVA said Friday the increased electricity sales as a result of the hot weather weren't enough to offset losses in the first two quarters of 2012. That's when electricity sales declined 5.9 percent because of an unseasonably mild winter.
TVA officials couldn't say whether there will be plans to increase power rates until after its board meets later this month. The federal utility's new fiscal year begins Oct. 1.
TVA provides electricity to 9 million people in Tennessee, Kentucky, Mississippi, Alabama, Georgia, North Carolina and Virginia.
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