Corker Fears Feds May ‘Destroy’ TVA

TVA will soon have five vacancies on its nine-member board. CEO Tom Kilgore will also retire at the end of the year.

Tennessee Senator Bob Corker says TVA might be better off if it came out from under federal oversight. Both of the state’s U.S. senators say the White House isn’t putting much thought or taking their input over appointing new board members.

Corker says any President – no matter the party – has bigger fish to fry than naming directors for the Tennessee Valley Authority. But regionally, the $11 billion power producer is huge. And Corker says board members with corporate experience could hold the agency accountable for screw-ups like going $2 billion over budget on a nuclear reactor.

Corker says he’s brainstorming about a new model.

“I’ve wondered whether governors might care more. At the end of the day, let’s say the governor of Tennessee cares a whole lot more about economic development of Tennessee than anybody at the White House does.”

Currently, governors have no role in TVA oversight.

Corker says he’s not in favor of outright privatization.