The Tennessee Valley Authority reported Tuesday its fiscal year 2023 financial results.
In the report, the largest public power company in the U.S. shared they reached $12.1 billion in total operating revenues on 157 billion kilowatt-hours of electricity sales. Power sales over the fiscal year were three percent lower due to overall milder weather and lower sales to industries.
Additionally, $225 million in pandemic recovery credits were returned to customers in 2023, with $674 million being returned over the last three years.
In economic efforts, around $9.2 billion in projects, expected to create over 12,000 jobs and retain over 46,000 jobs were announced across its entire service area. TVA President and CEO Jeff Lyash said there is a reason those companies are located in this area.
TVA added it remains a clean energy leader with 55% of its power supply from carbon-free sources in 2023.
Lyash said that TVA experienced unprecedented conditions caused by Winter Storm Elliott last winter, resulting in several power demand records, including the highest 24-hour electricity demand, and highest winter peak demand, in company history. He added they have recently completed some weatherization projects.
Lyash added that TVA is at the forefront of the change needed to develop the energy of the future.
The TVA was established 90 years ago and delivers energy to 10 million residents across seven southeastern states.
