Following discussions this week, officials with the Tennessee Valley Authority say they brought in $9.8 billion in operating revenues through the third quarter of fiscal year 2025 — an 11% increase over the same period last year — as electricity sales rose 3%.
Furthermore, TVA has sold 121 billion kilowatt-hours of electricity during the nine-month period ending June 30, with growth driven by residential, small business, and data-related power demands.
Don Moul, TVA’s new president and chief executive officer, said the public power company is consistently ranked by Site Selection Magazine among the nation’s best utilities in economic development efforts and results.
Moul also noted that while the TVA is in a time of board member transition, it’s important for employees to remain focused on the company’s objective: “providing affordable, reliable services for the 10 million people, businesses and industries that rely” on TVA power every day.
New generation sites, Moul added, are a part of that security.
This capital push, Moul said, is considered one of the largest investment periods in TVA’s history, and upon completion will be enough to power more than 1.1 million homes and businesses along the southeast United States.
More importantly, Moul said a sweltering summer has been mostly handled through effective load management.
Fuel and purchased power costs increased by $490 million compared to last year, largely due to reduced nuclear generation availability. TVA says 46% of its third-quarter power supply was carbon-free, sourced from nuclear, hydroelectric, solar, and wind.
Operating and maintenance expenses rose by $100 million, largely due to payroll and benefit costs, along with more nuclear outage days. Depreciation and amortization expenses also increased by $98 million.
According to TVA’s CFO Tom Rice, interest expenses were up as well, totaling $880 million for the nine-month period — $85 million more than the same time last year. Still, TVA posted a net income of $745 million, up $130 million from last year, mainly because of stronger revenue performance.
TVA says it remains focused on financial discipline and long-term resilience while preparing to support next-generation industries such as artificial intelligence, nuclear innovation, and advanced manufacturing.
