Weather played havoc with TVA’s bottom line this year. While customers used record amounts of power during June’s scorching heat wave, it wasn’t enough to make up for a slump during a mild winter.
No Rate Increase Planned, But TVA in the Red
This summer’s heatwave means TVA is selling more electricity to power companies. In the last three months, the public utility racked up nearly 2.8 billion dollars in sales. That’s up four and a half percent from a year ago. Even so, Chief Financial Officer John Thomas says TVA is running in the red.
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