Coal, Hydroelectric, Nuclear, O&M

TVA reports $67mn loss, increases use of nuclear & hydro in 1Q 2014

Tennessee Valley Authority TVA completes financing to acquire Southaven Combined Cycle Power Plant Mississippi Seven States Power Corp

The Tennessee Valley Authority (TVA) increased its use of nuclear and hydroelectric power in the first quarter of 2014, but reported a loss on operating revenues.

TVA released its first quarter results that showed a $67 million net loss on operating revenues of $2.38 billion, an improvement from a $245 million loss on revenues of $2.58 billion for the same time period last year. Operating and maintenance (O&M) expenses were down $112 million, or 12 percent, in the first quarter, which was helped by a $91 million decrease in expenses from planned outages, projects and scheduled maintenance, and a reduction in contract labor, along with a $10 million increase in coal-fired operation outages partially offset the savings in O&M.

Total operating expenses were 14 percent lower than the same period in 2013, thanks to a 32 percent decrease in fuel expenses. Nuclear generation increased 29 percent, while hydroelectric generation increased 30 percent over first quarter 2013.