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Governance

The TVA Act, Bylaws of the Tennessee Valley Authority, Board Practices and Committee Charters form the framework for the governance of TVA.

Ethics

The best interests of TVA take precedence over any conflicting interest held by a Director or any TVA employee. The Board expects individual Directors, as well as officers and employees of TVA, to act ethically at all times and to adhere to the TVA Conflict of Interest Policy (PDF).

Committees

The TVA Board has established committees to help fulfill its responsibilities. Under the TVA Act, the TVA Board is required to have an audit committee. Other committees are established as provided by TVA's bylaws. The Board may create an ad hoc committee to oversee a specific and time-limited project or responsibility, but currently no ad hoc committees exist.

Audit, Risk, and Regulation Committee

The TVA Act sets forth three requirements for this committee: (1) in consultation with the Inspector General, recommend to the Board an external auditor; (2) receive and review reports from the external auditor and Inspector General; and (3) make recommendations to the Board.

In meeting these requirements and its other responsibilities the committee has four major oversight areas as set forth in its charter: (1) financial reporting process including internal controls, (2) regulatory policies for the distributors of TVA power, (3) risk management programs, and (4) TVA’s compliance and ethics programs.

Lynn Evans, Chair
Marilyn Brown
Mike McWherter
Joe Ritch

Audit, Risk, and Regulation Committee Charter (PDF)

External Relations Committee

The External Relations Committee has general oversight of TVA’s environmental stewardship activities, relationships with TVA’s customers and members of the public, technology leadership role and economic development efforts. The committee reviews policies and programs in the areas of energy efficiency and land and natural resource stewardship. The committee also monitors the performance of TVA’s government relations activities and corporate citizenship programs.

Richard Howorth, Chair
Marilyn Brown
Mike McWherter
Joe Ritch

External Relations Committee Charter (PDF)

Finance, Rates, and Portfolio Committee

The Finance, Rates, and Portfolio Committee is responsible for assisting the Board in fulfilling its responsibilities with respect to TVA’s financial health, electricity rates and energy resource portfolio planning. The committee oversees TVA's financial performance and reviews management’s annual budget recommendation. The committee also oversees and recommends to the full Board the approval of any adjustments or changes to electricity rates and reviews major contract actions not delegated to management.

Pete Mahurin, Chair
Barbara Haskew
Richard Howorth
Bill Sansom

Finance, Rates, and Portfolio Committee Charter (PDF)

Nuclear Oversight Committee

The Nuclear Oversight Committee is responsible for assisting the Board in fulfilling its responsibilities for TVA’s nuclear program including oversight of related safety, operational, and financial performance as well as long-term plans and strategies affecting TVA’s nuclear fleet. The committee receives assistance and insight from independent nuclear experts to support the board's oversight activities. The committee reviews TVA’s strategy for nuclear development and operations, cost and schedule performance of significant projects, and results from major inspections and evaluations of the fleet.

Bill Sansom, Chair
Marilyn Brown
Richard Howorth
Joe Ritch

Nuclear Oversight Committee Charter (PDF)

People and Performance Committee

The People and Performance Committee assists the Board in fulfilling its responsibilities for the operational and safety performance of TVA, compensation and human resource issues, and talent and culture management. This committee reviews performance targets, the goals of TVA leadership, and management’s succession planning processes. In addition, the committee provides oversight on TVA’s veteran’s programs and labor relations strategy.

Barbara Haskew, Chair
Lynn Evans
Pete Mahurin

People and Performance Committee Charter (PDF

 

 

 

 

           
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