Tennessee Valley Authority (TVE) is a federally owned electric utility and corporate agency of the U.S. government that generates, transmits, and supplies electricity across the Tennessee Valley region. Revenue comes primarily from electricity sales to distributors and direct customers within its statutory service area. TVA operates a generation portfolio that, as of September 30, 2025, included nuclear facilities with 8,302 MW of summer net capability across three plants (Browns Ferry, Sequoyah, Watts Bar), coal-fired facilities with 5,815 MW across four plants, and substantial natural gas, hydroelectric, solar, wind, and pumped-storage capacity, supplemented by power purchase agreements totaling thousands of contracted megawatts. TVA holds no publicly traded equity; its securities (trading symbol N/A) are not listed on any exchange. Donald A. Moul serves as President and CEO, with Thomas C. Rice as CFO, as of November 12, 2025. TVA recorded an all-time peak power demand of approximately 35,430 MW on January 22, 2025, surpassing its prior record set in January 2024.

Revenue model

TVA generates revenue through electricity sales, operating as a self-financing government corporation that does not receive Congressional appropriations for its power program. Power is sold to local power companies and directly to large industrial and commercial customers within its service territory.

Products and services

Electricity generation from nuclear, coal-fired, natural gas and oil-fired (simple-cycle and combined-cycle combustion turbines), hydroelectric, pumped-storage, solar, wind, and diesel facilities. Power purchase agreements supplement owned generation. TVA also manages reservoir and public land properties and participates in economic development programs within the Tennessee Valley.

Customers and end markets

Local power companies (distributors) and large industrial and commercial end users within TVA's statutory service area. Economic development programs supported announcements of over $6.6 billion in projected capital investments and approximately 9,316 new jobs and 43,254 retained jobs (as of the FY2025 10-K filing).

Value-chain role

Vertically integrated electric utility: generation, transmission, and wholesale/retail electricity supply. TVA owns and operates generating facilities and transmission infrastructure within its service territory.

Geographic exposure

Tennessee Valley region, encompassing Tennessee and parts of Alabama, Mississippi, Kentucky, Georgia, North Carolina, and Virginia, as defined by TVA's statutory service area.

Source: SEC 10-K, filed 2025-11-13

Industry: Electric Services