The Tennessee Valley Authority (TVA) has announced a solid financial performance for the second quarter of fiscal year 2025, reporting $6.5 billion in operating revenues and a 4% year-over-year increase in electricity sales—driven by demand growth in data services and colder weather.
For the six months ending March 31, TVA recorded sales of nearly 81 billion kilowatt-hours of electricity, a 9% increase in revenue compared to the same period last year. Net income rose to $533 million—up $99 million—thanks to increased sales and higher base rates.
TVA President and CEO Don Moul emphasized the utility’s ongoing commitment to energy reliability and future readiness.
TVA is currently investing heavily in new energy infrastructure, with 5,500 megawatts of firm, dispatchable generation under development. This includes nearly 1,400 megawatts of new gas generation at sites in Kentucky and Alabama.
While operating and maintenance costs rose by $93 million—primarily due to increased labor—fuel and purchased power expenses also climbed by $183 million, attributed largely to reduced nuclear availability.
Despite these cost increases, Moul noted TVA maintained a 46% carbon-free power mix, driven by nuclear, hydro, wind, and solar sources.
Coal, Moul added, will continue to be part of the TVA profile.
Chief Financial Officer Tom Rice also noted TVA’s financial strength remains healthy.
In leadership news, TVA appointed Moul as its fourth Chief Executive Officer following the retirement of Jeff Lyash.
Moul brings more than 38 years of experience in power generation and operations and previously served as TVA’s executive vice president and chief operating officer.
Under his leadership, TVA has made strides in advanced nuclear technologies and has twice broken peak demand records during extreme weather.
More information, including financial filings, is available at tva.com/investors.
