Tagged: TVA

The Tennessee Valley Authority is expected to meet Monday to discuss delegating authority to the utility's new chief executive until it fills several vacancies on its board. The board is made up of nine members and five seats are pending congressional action, including one that's up for reappointment. Congress is set to adjourn this month.

The U.S. Geological Survey says an earthquake centered in Kentucky also hit at least eight other states. The USGS website says the epicenter of the 4.3 magnitude earthquake Saturday afternoon was about 10 miles west of Whitesburg, near the Virginia line.

The Tennessee Valley Authority’s board has chosen a former energy chief from North Carolina to succeed retiring Tom Kilgore as the chief executive of the nation’s largest public utility.

A new Tennessee Valley Authority quarterly report shows their pension fund shortfall is affecting ratepayers. TVA officials say one of the main reasons for the 2 percent increase was the $300 million the agency put into its pension fund. TVA has added nearly 1.3 billion from customers to the fund since 2008. But, the utility didn’t add to the fund or increase rates this year. John Thomas with TVA says he expects market gains to make up for the shortfall in 10 to 15 years.  He says TVA will continue to take care of its employees and retirees. Less than 20 years ago, the fund had a surplus.

The Tennessee Valley Authority's reliance on coal has dropped and the use of natural gas as fuel to generate electricity has increased. The Commercial Appeal reports TVA's use of gas climbed 70 percent in the fiscal year ended September 30. At the same time, coal-fired generation declined 30 percent from fiscal year 2011.