Tennessee Valley Authority
2009 Highlights
Energy
- Sequoyah Nuclear Unit 1’s capacity factor ranked sixth best in the world.
- Transmission system achieved 99.999 percent reliability for the 10th year in a row.
- Four straight quarterly reductions in TVA’s Fuel Cost Adjustment.
- Began the process of updating our 20-year Integrated Resource Plan. In partnership with distributors of TVA power, began offering free home energy audits.
- Three test homes demonstrate the energy savings of the energyright solutions® program for construction and retrofitting.
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Environment
- Invested $172 million as part of the ongoing $5.3 billion program to reduce emissions at fossil plants.
- Continued to reduce SO2 emissions, which are down by 84 percent since regulation began.
- Reduced nitrogen oxide (NOx) emissions during summer ozone seasons by 82 percent since regulation began.
- Signed agreements for 450 megawatts of wind power to be available in 2012.
- Committed to dry storage for fly ash and gypsum at fossil plants.
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Economic Development
Plants under construction:
- Toyota; near Tupelo, Miss., 2,000 jobs.
- Volkswagen; near Chattanooga, 2,000 jobs.
- Hemlock Semiconductor (for solar panels); in Clarksville, Tenn., 500 jobs.
- Wacker Chemie (to make silicon for solar panels); in Charleston, Tenn., 500 jobs.
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Finance
- TVA’s rated securities continue to receive the highest ratings from major credit-rating agencies.
- Generated strong cash flow of more than $2 billion from operating activities.
- Made tax-equivalent payments of more than $500 million to states and counties.
- Contributed $1 billion to the TVA retirement system as an advance contribution through 2013.
- Issued $2.4 billion of long-term bonds, locking in low average interest rates.
- Realized a reduction in net interest expense of more than $100 million.
•33,716 megawatts of TVA- operated generation (net summer capability)
• Transmission system consisting of more than 15,9000 miles of line
• Through {local} local power distributors, providing electricity to 9 million Tennessee Valley residents
• Funded promarily with power revenues and financings, receiving no tax dollars
•11 fossil plants (59 units)
•3 nuclear plants (6 units)
•29 hydro plants (109 units)
•1 pumped-storage plant (4 units)
•9 combustion -turbine plants (87 units)
•2 combined-cycle plants (6 units)
•2 diesel-generator sites (9 units)
•15 solar energy sites
•1 wind-energy site
•1 digestor-gas site
•1 biomass-cofiring site
2009 10K Financial Highlights
| For the years ended September 30(in millions) | |||
Summary statements of income |
2009 | 2008 | Percent Change |
|---|---|---|---|
| Operating revenues | $ 11,255 | $ 10,382 | 8 |
| Operating expenses | (9,282) | (8,198) | 13 |
| Operating income | 1,973 | 2,184 | (10) |
| Other income, net | 25 | 9 | 178 |
| Interest expense, net | (1,272) | (1,376) | (8) |
| Net income | $ 726 | $ 817 | (11) |
Power System Statistics |
2009 | 2008 | Percent Change |
|---|---|---|---|
| At September 30 or for the years ended September 30, as appropriate (in millions) | |||
| System input (million of kilowatt-hours) | |||
| System generation | |||
| Hydro, including pumped storage | 11,421 | 6,685 | 71 |
| Coal-Fired | 76,794 | 98,752 | (22) |
| Nuclear | 53,047 | 51,371 | 3 |
| Combustion turbine and diesel generators | 3,481 | 1,386 | 151 |
| Green power | 29 | 39 | (26) |
| Total net generation | 144,772 | 158,233 | (9) |
| Purchased | 22,088 | 20,887 | 6 |
| Total system input | 166,860 | 179,120 | (7) |
System output (million of kilowatt-hours) |
|||
| Sales | |||
| Municipalities and cooperatives | 133,078 | 139,596 | (5) |
| Industries directly served | 28,718 | 34,695 | (17) |
| Federal agencies and other | 2,008 | 2,013 | - |
| Total sales | 163,804 | 176,304 | (7) |
| Other | 56 | 46 | 22 |
| Losses | 3,000 | 2,770 | 8 |
| Total system output | 166,860 | 179,120 | (7) |
| Net summer capability (megawatts) | 36,490 | 36,714 | (1) |
| System peak load (megawatts)--summer | 28,711 | 31,577 | (9) |
| System peak load (megawatts)--winter | 32,572 | 32,027 | 2 |
| Number of employees at September 30 | 12,219 | 11,584 | 5 |
Percent summer capability by TVA-owned fuel source |
|||
| Coal-Fired | 40% | 39% | 2 |
| Nuclear | 18% | 18% | - |
| Hydro | 15% | 15% | - |
| Natural gas and oil fired, diesel generator and renewable resources | 19% | 20% | (5) |
| Purchased Power | 8% | 8% | - |
