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TVA Board Meeting - May 9, 2024


TVA Board Meeting Recap - May 9, 2024

The Tennessee Valley Authority Board of Directors, at its quarterly meeting May 9, reviewed the agency’s comprehensive, integrated sustainability strategy that will drive the largest public power provider in America from nearly 60% carbon-free energy toward net-zero emissions by 2050. The Board also reviewed other initiatives that will expand our reliable and resilient power system.

The meeting was held at Lipscomb University in Nashville, with a public listening session held May 8 at the same location.

With the region growing three times faster than the national average, TVA’s Board is guiding the agency to meet the challenges ahead with a multi-prong approach of (1) building additional cleaner, flexible and efficient generation, and (2) reducing the growth in future consumption by 30% over the next 10 years by investing in energy efficiency and demand response programs.

While ensuring the region's energy supply remains expandable, sustainable and innovative, TVA remains committed to providing a diverse generation portfolio. TVA's diverse generation fleet, which helps keep fuel costs lower, resulted in a 4% reduction in the price of electricity in the first three months of the 2024 calendar year compared to the year before.

Highlights of TVA’s efforts include:

  • 12,400 homeowners received more than $2.5 million in rebates to make energy efficiency upgrades.
  • 1,700 businesses completed energy efficiency upgrades that will save them nearly $115 million on their annual electric bills over the life of the improvements.
  • 1,400 megawatts of reliable natural gas generation constructed and approximately 800 megawatts of new solar energy secured.

In other business, the Board also reviewed the FY 2023 Sustainability Report, reviewed TVA’s operations and nuclear performance, heard reports on TVA’s financial performance and funding of FY 2024 strategic initiatives, and discussed executive compensation and committee assignments.

Agenda

Approved Resolutions

Listening Session Recap

Minutes

Presentation

Streaming Video

Sustainability Report