TVA Reports Net Loss in 1st Quarter 2013

By: Associated Press
By: Associated Press

KNOXVILLE, Tenn. (AP) -- The Tennessee Valley Authority reported a net loss of $245 million on operating revenues of $2.58 billion in the first quarter of fiscal year 2013, as electricity sales were flat and fuel expenses increased.

TVA said in a news release Tuesday, their quarterly filing with the Securities and Exchange Commission, shows total electricity sales increased by a slight 0.2 percent, and total operating expenses were 4 percent higher than the same period last year, driven by a 24 percent increase in fuel expense.

The utility said those expenses were offset by a decline in purchased power expenses, as TVA used more of its own generation sources to meet demand. Also the utility had $111 million increase in expenses from nuclear refueling outages in the first quarter.


WBKO.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, no links, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WBKO 2727 Russellville Road Bowling Green, KY 42101-3976 Phone: 270-781-1313 After Hours Hotline: 270-781-6397 Fax: 270-781-1814
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 189920601