A Look to the Future
With the adoption of its new Strategic Plan, TVA has recommitted itself to the mission of providing the Tennessee Valley region with affordable and reliable electric power, environmental stewardship and leadership in sustainable economic development.
We are taking a fresh look at the full portfolio of products and services that TVA provides to find better, more efficient ways to carry out our multipurpose mission. Our Environmental Management System is already helping us reduce our training and procurement costs, and we expect to achieve additional savings by identifying environmental risks and developing low-cost mitigation strategies, and by implementing standardization and process improvements throughout the agency.
This year TVA instituted its second rate increase in 16 years — a 10-year environmental adjustment in our rates that will help pay for further reducing our fossil plant emissions while ensuring that the people of the TVA region retain access to a diverse generation portfolio.
In 2004, based on the results of our Reservoir Operations Study, the TVA Board will issue its decision concerning how we will operate the reservoir system to create more value for the people of the region. Any required changes in operating policy will be implemented over the next few years.
There is considerable uncertainty about the ultimate outcome and timing of electricity market restructuring. Environmental regulations also remain in flux, with a number of competing proposals under consideration by Congress and the Administration. Fuel-price volatility continues at unprecedented levels. All of these factors make it critical that TVA continually evaluate the viability of its generation assets and future capital investments.
While much is changing, one thing remains constant: TVA’s commitment to improving the quality of life for the people of the TVA region. We will continue to reduce the impacts of our operations on the environment. We will work collaboratively with the states and with public and private partners to improve water quality. We will continue the integrated management of the river and power systems to keep power rates low and reliability high. And we will support sustainable economic development that brings and keeps good jobs for the citizens of the region.
The next few years will be a time of great change. But great change also brings great opportunities. Opportunities for new partnerships with stakeholders; opportunities for harnessing advances in science and technology; opportunities for increasing the value delivered by our integrated management of the river and power systems; opportunities to help communities grow without increasing stresses on the region’s resources.
We at TVA welcome the opportunities that lie ahead.
Kathryn J. Jackson, Ph.D.