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.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.