Tennessee Valley Authority Reports Losses for 2011 Third Quarter
Posted on Aug 15, 2011 in Economic Downturn, Rates | Comments Off on Tennessee Valley Authority Reports Losses for 2011 Third Quarter
In a filing with the Securities and Exchange Commission, the Tennessee Valley Authority (TVA), which provides power to 155 coops and municipal systems in the Southeast, recently reported that it lost $240 million on $2.7 billion in revenues for the quarter ending June 30. The TVA cited several reasons for the downturn, including adverse weather, refueling outages at its nuclear plants and lower demand. During the same quarter last year, the TVA had a net income of $199 million on $2.6 billion in revenues. Click here to read the full story.
