Displaying items by tag: tva transition to clean energy

A protestor holds a sign during a 2021 demonstration against TVA’s plans for continued fossil fuel use outside the federal utility’s headquarters in Knoxville.  Thomas Fraser/Hellbender Press

KNOXVILLE — On Thursday, August 22, the Tennessee Valley Authority’s (TVA) Board of Directors will meet in Florence, Alabama to authorize a 5.25 percent electric power rate increase without any public documentation showing why the increase is needed or how those additional revenues will be spent. This rate increase amounts to approximately a staggering half-a-billion-dollar increase for Tennessee Valley ratepayers. Only in the Tennessee Valley could a major utility raise rates without public scrutiny of financial documents.

The 5.25 percent rate increase coupled with last year’s 4.5 percent electric rate increase is strategically set just below a 10 percent threshold that would trigger renegotiation of hundreds of power supply agreements with local utilities. But even with this rate increase, TVA is still racking up debt at a rate not seen in decades.

Based on documents over a year old at this point, we can only guess what is driving TVA’s current financial woes: the largest buildout of fossil gas in the country this decade. These new fossil gas pipelines and power plants aren’t cheap, and TVA’s plan to increase reliance on gas is risky. Families and businesses across the Valley will see increased bills when gas prices rise again and as these new gas power plants become obsolete in just a few short years. 

TVA service area and power generation assets.  Tennessee Valley Authority (TVA) | GAO-23-105375

GAO report concludes TVA is flat-footed on climate-change risks to infrastructure

This story was originally published by Tennessee Lookout.

WASHINGTON — Extreme weather patterns have sparked several improvements to the climate resiliency of Tennessee Valley Authority electrical infrastructure over the past two decades. 

A report from a government watchdog, however, found the huge utility still has work to do in mitigating climate hazards to the regional power grid. (Bitter cold around Christmas led TVA to implement rolling blackouts).

“TVA has taken several steps to manage climate-related risks,” the Jan. 30 report from the Government Accountability Office said. “However, TVA has not conducted an inventory of assets and operations vulnerable to climate change, or developed a resilience plan that identifies and prioritizes resilience measures to address specific risks.” 

One issue: The Southeast has experienced a period of accelerated warming since the 1960s. Among cities in the region, 61 percent are experiencing worsening heat waves, a percentage greater than anywhere else in the country, according to the GAO. 

The report came in response to a five-part joint request for information on the climate resiliency of U.S. infrastructure, from U.S. Senate Energy and Natural Resources Committee Chair Joe Manchin III of West Virginia and Environment and Public Works Committee Chair Tom Carper of Delaware. The two Democrats sent their request to the GAO on May 13, 2019. 

A public demonstration in September 2021 in Market Square in Knoxville demanding TVA resume public meetings with reasonable pandemic safeguards. Courtesy Southern Alliance for Clean Energy

After pandemic starts and stutters, TVA finally allows personal public input at meetings

KNOXVILLE

For the first time in nearly two years, the publicly owned Tennessee Valley Authority will host a public listening session on the day prior to its next board of directors meeting.

Since shifting to virtual board meetings in 2020, TVA diverged from other utilities across the country by not holding a single virtual public listening session. In addition, written comments submitted by ratepayers prior to board meetings have not been shared with the media or the public.