Tom Rice

This document is a fact sheet detailing TVA's energy generation assets and plans for the fiscal year ending September 30, 2025. It outlines the organization's diverse generation portfolio, including nuclear, coal, gas, hydro, and renewables, and its commitment to meeting growing energy demand. Key initiatives involve expanding energy capacity with plans for over 6,200 megawatts of new generation, aiming to provide reliable, affordable, and resilient electricity for the Valley region and support local job creation.

This Fact Sheet outlines the economic development initiatives for the fiscal year ended September 30, 2025. It details significant projected capital investments and job creation in the region, emphasizing TVA's role as a leading utility in economic development. Key strategic areas include targeted industry recruitment, regional development assistance, product development for sites and buildings, technical services, research, and comprehensive community support. The overarching goal is to attract new companies and investments, engage existing businesses, and prepare communities for sustained economic growth.

The board meeting agenda included several committee reports and updates. The People and Governance Committee and the Audit, Risk, and Cybersecurity Committee provided updates. The Operations and Nuclear Oversight Committee provided updates regarding Operations Quarterly Update and Nuclear Quarterly Update. Key action items included seeking TVA Board approval for making available firm power exceeding 100 MW to CTC Property LLC (xAI), contingent on meeting specific requirements, and delegating authority for approving those requirements. The Finance, Rates, and Portfolio Committee presented a Financial Update for Q1 Fiscal Year 2026, noting favorable revenue and net income compared to budget, and addressing power sales variances. Another critical agenda item involved Cumberland and Kingston Evaluations, seeking authorization to operate Cumberland Fossil Plant (CUF) and Kingston Fossil Plant (KIF) past their planned retirement dates due to increasing electricity demand driven by data centers and population growth. The President's Report covered topics such as the response to Winter Storm Fern, team performance, the board's future trajectory, and plans for meeting rising energy demand through new generation and nuclear reliability investments.

This document outlines a strategic plan to meet rising energy demand by building a reliable and affordable electricity foundation. It details ongoing and planned initiatives to add over 5,500 megawatts of new generation capacity, with more than 3,500 coming online by 2029. Key focus areas include optimizing the current fleet, enhancing the transmission system, and establishing a new system operations center to ensure a resilient energy future, with a significant emphasis on nuclear power development.

The Board Meeting featured a comprehensive President's Report by Jeff Lyash, CEO, covering TVA's financial health, noting the lowest debt in 30 years and competitive rates, its diverse system portfolio, progress toward a cleaner energy grid, and record economic development achievements. Jeannette Mills, EVP and Chief External Relations Officer, was also highlighted. Subsequent reports addressed various committee matters. The External Relations Committee discussed the renewal of charters for the Federal Advisory Committees: the Regional Resource Stewardship Council (RRSC) and the Regional Energy Resource Council (RERC), including approval recommendations for charter renewals and delegation of authority for membership. The Finance, Rates, and Portfolio Committee presented the Q1 Fiscal Year 2020 financial update, which showed operating revenues, net income, and Total Financing Obligations (TFO) favorable to budget. Doug Perry presented on the proposed Flexibility Option for Valley Partners, outlining six principles for implementing enhanced power supply flexibility and recommending authorization for the CEO to execute amendments to wholesale power contracts. Other committees, including People and Performance, Nuclear Oversight, and Audit, Risk, and Regulation, also had sections in the minutes.