TVA Payments Down Again. Changing Conditions and Policies Could Affect the Balance of Payments Across the Region.
Nashville, TN–Estimated payments from the Tennessee Valley Authority (TVA) for Tennessee and other states in the region served by the authority are $25 million less for the federal fiscal year 2013-14 than the $547 million in actual payments for the previous fiscal year. This will be the second consecutive year in which TVA revenues and payments declined. The estimated decline in payments results from the continued slow pace of economic recovery, the loss of a major direct industrial customer, greater energy efficiency, and mild weather. Even with the severe winter weather this year, TVA is expecting another decline in electricity sales. They reported in early February that electricity sales in the final three months of 2013 were down $245 million from last year.