In This Story
Tennessee Valley Authority (TVC+0.30%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports operating revenues of $2.9 billion for the quarter, an increase from $2.8 billion in the same quarter the previous year. This increase is attributed to higher effective base rates, sales volume, and fuel rates.
Operating expenses for the quarter were $2.5 billion, up from $2.4 billion in the previous year. The increase in expenses is primarily due to higher fuel costs, purchased power, and operating and maintenance expenses.
Fuel expense increased by $9 million due to higher coal prices, while purchased power expense rose by $35 million due to less availability of nuclear generation.
Operating and maintenance expenses increased by $38 million, driven by higher payroll and benefit costs and increased outage expenses.
Depreciation and amortization expenses rose by $36 million, primarily due to the decision to retire the Kingston Fossil Plant and other plant additions.
Net income for the quarter was $125 million, slightly down from $127 million in the previous year.
TVA's total power supply for the quarter was 38,784 million kWh, with nuclear generation accounting for 36% of the total.
Interest expense increased to $280 million from $262 million due to higher average debt balances and rates.
TVA continues to focus on maintaining a reliable power supply while managing its financial commitments and operational challenges.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Tennessee Valley Authority quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.