.container { padding-left: 12px; padding-right: 12px}@media (min-width: 992px) { .container-wide { max-width:120rem; padding-left: 3rem; padding-right: 3rem }}.site-wrapper { margin-top: 3.5rem; margin-left: 0; margin-right: 0; max-width: none; padding-left: 0; padding-right: 0; overflow-x: hidden}@media (min-width: 992px) { .site-wrapper { margin-top:6.75rem }}.header { padding-top: 0.75rem; position: fixed; z-index: 10; width: 100%; background-color: #fff; top: 0; height: 3.5rem}@media (min-width: 992px) { .header { padding-top:1.5rem; height: 6.75rem }}.header .tva-logo { color: #3f3f3f}.header .header-row { -ms-flex-align: center; align-items: center}@media (min-width: 1200px) { .header .header-row { -ms-flex-align:end; align-items: flex-end }}nav { display: none; background: white; position: fixed; width: 100%; padding-left: 12px; padding-right: 12px; top: 3.5rem; right: 0; box-shadow: 0px 5px 20px -15px rgba(0,0,0,0.5),15px 10px 20px -25px rgba(0,0,0,0.5),-15px 10px 20px -25px rgba(0,0,0,0.5)}nav.active { display: block}nav a,nav a:hover { text-decoration: none}@media (min-width: 768px) { nav { width:70vw; padding-left: 2rem; padding-right: 2rem }}@media (min-width: 992px) { nav { top:6.75rem; width: 40vw }}@media (min-width: 1200px) { nav { display:-ms-flexbox; display: flex; -ms-flex-positive: 1; flex-grow: 1; -ms-flex-negative: 0; flex-shrink: 0; -ms-flex-align: end; align-items: flex-end; margin-bottom: 0.3125rem; box-shadow: none; position: static; width: 100%; padding: 0 } nav.active { display: -ms-flexbox; display: flex }}.nav-control { display: block; border: none; background: none; padding: 0; width: 40px; margin-right: 0.625rem}@media (min-width: 1200px) { .nav-control { display:none }}.nav-control .line { position: relative; width: 40px; height: .2rem; margin-bottom: .4rem; background: #414141}.nav-control .line:last-of-type { margin-bottom: 0}.nav-control.active { padding: 15px 0 1px}.nav-control.active .line:first-child { -webkit-transform: rotate(-45deg); transform: rotate(-45deg)}.nav-control.active .line:last-child { -webkit-transform: rotate(45deg); transform: rotate(45deg); top: -9.5px}.nav-control.active .line:nth-child(2) { display: none}.nav-item-group { position: relative; max-width: 540px; margin-left: auto; margin-right: auto; padding-left: 0.187rem; padding-right: 0.187rem; margin-bottom: 1rem}@media (min-width: 576px) { .nav-item-group { padding-left:12px; padding-right: 12px }}@media (min-width: 768px) { .nav-item-group { max-width:none; padding-left: 0; padding-right: 0; margin-left: 0; margin-right: 0 }}@media (min-width: 1200px) { .nav-item-group { margin-bottom:0; margin-right: 1.1%; margin-left: 1.1% }}.nav-item-group a:hover,.nav-item-group a:focus { color: #717171}.nav-item-group.cat-env a:hover { color: #6A9033}.nav-item-group.cat-energy a:hover { color: #E56027}.nav-item-group.cat-econ a:hover { color: #2C9199}.nav-item-group.cat-about a:hover { color: #447DAE}.nav-item-group.cat-kidswhat a:hover { color: #004b85}.nav-item-group.cat-kidselec a:hover { color: #e43c31}.nav-item-group.cat-kidsenv a:hover { color: #7fbd42}.nav-item-group.cat-kidsriv a:hover { color: #29afca}.nav-item-group.cat-kidshis a:hover { color: #ffc428}.nav-item-group.cat-kidsres a:hover { color: #004b85}.nav-item-group.cat-env a:focus { color: #6A9033}.nav-item-group.cat-energy a:focus { color: #E56027}.nav-item-group.cat-econ a:focus { color: #2C9199}.nav-item-group.cat-about a:focus { color: #447DAE}.nav-item-group.cat-kidswhat a:focus { color: #004b85}.nav-item-group.cat-kidselec a:focus { color: #e43c31}.nav-item-group.cat-kidsenv a:focus { color: #7fbd42}.nav-item-group.cat-kidsriv a:focus { color: #29afca}.nav-item-group.cat-kidshis a:focus { color: #ffc428}.nav-item-group.cat-kidsres a:focus { color: #004b85}.nav-item-group.cat-env .sub-nav-list { border-color: #6A9033}.nav-item-group.cat-energy .sub-nav-list { border-color: #E56027}.nav-item-group.cat-econ .sub-nav-list { border-color: #2C9199}.nav-item-group.cat-about .sub-nav-list { border-color: #447DAE}.nav-item-group.cat-kidswhat .sub-nav-list { border-color: #004b85}.nav-item-group.cat-kidselec .sub-nav-list { border-color: #e43c31}.nav-item-group.cat-kidsenv .sub-nav-list { border-color: #7fbd42}.nav-item-group.cat-kidsriv .sub-nav-list { border-color: #29afca}.nav-item-group.cat-kidshis .sub-nav-list { border-color: #ffc428}.nav-item-group.cat-kidsres .sub-nav-list { border-color: #004b85}.nav-item { font-size: 0.7rem; font-weight: 500; letter-spacing: .126em; text-transform: uppercase; color: #414141; position: relative}.nav-heading { display: inline-block; width: 100%; border: none; cursor: pointer}@media (min-width: 1200px) and (hover: hover) { .nav-heading { display:none }}.nav-heading-link { display: none}@media (min-width: 1200px) and (hover: hover) { .nav-heading-link { display:inline-block }}@media (min-width: 1200px) and (hover: hover) { .nav-item-overview { display:none }}.nav-item-group:focus-within .nav-heading,.nav-item-group:focus-within .nav-heading-link { color: #717171}.nav-item-group:focus-within.cat-env .nav-heading { color: #6A9033}.nav-item-group:focus-within.cat-energy .nav-heading { color: #E56027}.nav-item-group:focus-within.cat-econ .nav-heading { color: #2C9199}.nav-item-group:focus-within.cat-about .nav-heading { color: #447DAE}.nav-item-group:focus-within.cat-kidswhat .nav-heading { color: #004b85}.nav-item-group:focus-within.cat-kidselec .nav-heading { color: #e43c31}.nav-item-group:focus-within.cat-kidsenv .nav-heading { color: #7fbd42}.nav-item-group:focus-within.cat-kidsriv .nav-heading { color: #29afca}.nav-item-group:focus-within.cat-kidshis .nav-heading { color: #ffc428}.nav-item-group:focus-within.cat-kidsres .nav-heading { color: #004b85}.nav-item-group:focus-within.cat-env .nav-heading-link { color: #6A9033}.nav-item-group:focus-within.cat-energy .nav-heading-link { color: #E56027}.nav-item-group:focus-within.cat-econ .nav-heading-link { color: #2C9199}.nav-item-group:focus-within.cat-about .nav-heading-link { color: #447DAE}.nav-item-group:focus-within.cat-kidswhat .nav-heading-link { color: #004b85}.nav-item-group:focus-within.cat-kidselec .nav-heading-link { color: #e43c31}.nav-item-group:focus-within.cat-kidsenv .nav-heading-link { color: #7fbd42}.nav-item-group:focus-within.cat-kidsriv .nav-heading-link { color: #29afca}.nav-item-group:focus-within.cat-kidshis .nav-heading-link { color: #ffc428}.nav-item-group:focus-within.cat-kidsres .nav-heading-link { color: #004b85}.nav-item-group.focus-within .nav-heading,.nav-item-group.focus-within .nav-heading-link,.nav-item-group.active .nav-heading,.nav-item-group.active .nav-heading-link,.nav-item-group:hover .nav-heading,.nav-item-group:hover .nav-heading-link { color: #717171}.nav-item-group.focus-within.cat-env .nav-heading,.nav-item-group.active.cat-env .nav-heading,.nav-item-group:hover.cat-env .nav-heading { color: #6A9033}.nav-item-group.focus-within.cat-energy .nav-heading,.nav-item-group.active.cat-energy .nav-heading,.nav-item-group:hover.cat-energy .nav-heading { color: #E56027}.nav-item-group.focus-within.cat-econ .nav-heading,.nav-item-group.active.cat-econ .nav-heading,.nav-item-group:hover.cat-econ .nav-heading { color: #2C9199}.nav-item-group.focus-within.cat-about .nav-heading,.nav-item-group.active.cat-about .nav-heading,.nav-item-group:hover.cat-about .nav-heading { color: #447DAE}.nav-item-group.focus-within.cat-kidswhat .nav-heading,.nav-item-group.active.cat-kidswhat .nav-heading,.nav-item-group:hover.cat-kidswhat .nav-heading { color: #004b85}.nav-item-group.focus-within.cat-kidselec .nav-heading,.nav-item-group.active.cat-kidselec .nav-heading,.nav-item-group:hover.cat-kidselec .nav-heading { color: #e43c31}.nav-item-group.focus-within.cat-kidsenv .nav-heading,.nav-item-group.active.cat-kidsenv .nav-heading,.nav-item-group:hover.cat-kidsenv .nav-heading { color: #7fbd42}.nav-item-group.focus-within.cat-kidsriv .nav-heading,.nav-item-group.active.cat-kidsriv .nav-heading,.nav-item-group:hover.cat-kidsriv .nav-heading { color: #29afca}.nav-item-group.focus-within.cat-kidshis .nav-heading,.nav-item-group.active.cat-kidshis .nav-heading,.nav-item-group:hover.cat-kidshis .nav-heading { color: #ffc428}.nav-item-group.focus-within.cat-kidsres .nav-heading,.nav-item-group.active.cat-kidsres .nav-heading,.nav-item-group:hover.cat-kidsres .nav-heading { color: #004b85}.nav-item-group.focus-within.cat-env .nav-heading-link,.nav-item-group.active.cat-env .nav-heading-link,.nav-item-group:hover.cat-env .nav-heading-link { color: #6A9033}.nav-item-group.focus-within.cat-energy .nav-heading-link,.nav-item-group.active.cat-energy .nav-heading-link,.nav-item-group:hover.cat-energy .nav-heading-link { color: #E56027}.nav-item-group.focus-within.cat-econ .nav-heading-link,.nav-item-group.active.cat-econ .nav-heading-link,.nav-item-group:hover.cat-econ .nav-heading-link { color: #2C9199}.nav-item-group.focus-within.cat-about .nav-heading-link,.nav-item-group.active.cat-about .nav-heading-link,.nav-item-group:hover.cat-about .nav-heading-link { color: #447DAE}.nav-item-group.focus-within.cat-kidswhat .nav-heading-link,.nav-item-group.active.cat-kidswhat .nav-heading-link,.nav-item-group:hover.cat-kidswhat .nav-heading-link { color: #004b85}.nav-item-group.focus-within.cat-kidselec .nav-heading-link,.nav-item-group.active.cat-kidselec .nav-heading-link,.nav-item-group:hover.cat-kidselec .nav-heading-link { color: #e43c31}.nav-item-group.focus-within.cat-kidsenv .nav-heading-link,.nav-item-group.active.cat-kidsenv .nav-heading-link,.nav-item-group:hover.cat-kidsenv .nav-heading-link { color: #7fbd42}.nav-item-group.focus-within.cat-kidsriv .nav-heading-link,.nav-item-group.active.cat-kidsriv .nav-heading-link,.nav-item-group:hover.cat-kidsriv .nav-heading-link { color: #29afca}.nav-item-group.focus-within.cat-kidshis .nav-heading-link,.nav-item-group.active.cat-kidshis .nav-heading-link,.nav-item-group:hover.cat-kidshis .nav-heading-link { color: #ffc428}.nav-item-group.focus-within.cat-kidsres .nav-heading-link,.nav-item-group.active.cat-kidsres .nav-heading-link,.nav-item-group:hover.cat-kidsres .nav-heading-link { color: #004b85}.sub-nav { background: white; display: -ms-flexbox; display: flex; -ms-flex-direction: row; flex-direction: row; list-style: none; padding: 1rem 1rem 0; position: absolute; clip: rect(1px, 1px, 1px, 1px)}.nav-item-group:focus-within .sub-nav { clip: auto; position: relative}.nav-item-group.focus-within .sub-nav,.nav-item-group.active .sub-nav { clip: auto; position: relative}@media (min-width: 1200px) { .sub-nav { position:absolute; width: 40rem; left: -12.4rem; padding: 3.25rem 1rem 1rem; box-shadow: 0px 5px 20px -15px rgba(0,0,0,0.5),15px 10px 20px -25px rgba(0,0,0,0.5),-15px 10px 20px -25px rgba(0,0,0,0.5) } .sub-nav.sub-nav-align-right { left: auto; right: -1rem } .nav-item-group:focus-within .sub-nav { clip: auto; position: absolute } .nav-item-group.focus-within .sub-nav,.nav-item-group.active .sub-nav,.nav-item-group:hover .sub-nav { clip: auto; position: absolute }}.sub-nav-image { min-height: 13rem; position: relative; -ms-flex-positive: 1; flex-grow: 1; max-width: 10rem; background-size: cover; background-repeat: no-repeat}@media (max-width: 1199.98px) { .sub-nav-image { display:none }}.sub-nav-list { -ms-flex-positive: 1; flex-grow: 1; list-style: none; padding-left: 0; position: relative; margin-bottom: 0}@media (min-width: 1200px) { .sub-nav-list { border-top:5px solid #202020; padding-top: 1rem; margin-left: 1.4rem }}.sub-nav-list .nav-item { color: #414141}.sub-nav-list .nav-item:not(:last-child) { margin-bottom: 1rem}.nav-row-icon { -webkit-transform: rotate(-90deg); transform: rotate(-90deg); position: absolute; right: 13%}@media (min-width: 768px) { .nav-row-icon { right:1rem }}@media (min-width: 992px) { .nav-row-icon { right:3rem }}@media (min-width: 1200px) { .nav-row-icon { display:none }}.nav-row-icon svg * { fill: #414141}.nav-item-group:focus-within .nav-row-icon { -webkit-transform: rotate(0deg); transform: rotate(0deg)}.nav-item-group.focus-within .nav-row-icon,.nav-item-group.active .nav-row-icon { -webkit-transform: rotate(0deg); transform: rotate(0deg)}.search-control { border: none; background: none; padding: 0; display: -ms-flexbox; display: flex}@media (min-width: 1200px) { .search-control { display:none }}.search-form { display: -ms-flexbox; display: flex; margin-bottom: 0.25rem}@media (max-width: 1199.98px) { .search-form { display:none; background: white; position: fixed; top: 6.75rem; right: 0; width: 40vw; padding-top: 1.25rem; padding-right: 1.563rem; padding-bottom: 1.563rem; padding-left: 0.75rem; margin-bottom: 0 } .search-form.active { display: -ms-flexbox; display: flex }}@media (max-width: 991.98px) { .search-form { width:70vw; top: 3.5rem }}@media (max-width: 767.98px) { .search-form { width:100% }}@media (max-width: 1199.98px) { .search-form .form-inline { width:calc((100% - 1.312rem) - 1.125rem) }}.search-form .form-group { width: 100%; display: -ms-flexbox; display: flex; padding: 0; margin: 0}.search-form .form-group input { margin: 0; width: calc(100% - 3.375rem); height: 1.5rem; border: solid 1px #414141; border-right: 0; border-radius: 0; background-color: #ffffff; box-shadow: none; font-size: 0.7rem; font-weight: normal; letter-spacing: 0.41px; line-height: 1}@media (min-width: 992px) { .search-form .form-group input { width:calc(100% - 2.25rem) }}.search-form .form-group input::-webkit-input-placeholder { color: #717171}.search-form .form-group input::-ms-input-placeholder { color: #717171}.search-form .form-group input::placeholder { color: #717171}.search-form .form-group .btn { position: relative; border: 0; padding: 0; margin: 0 !important; width: 3.375rem; min-height: 0; height: 1.5rem; background: #414141; color: white; opacity: 1; font-size: 0.5rem; font-weight: bold; cursor: pointer}@media (min-width: 992px) { .search-form .form-group .btn { font-size:0; width: 2.25rem }}@media (min-width: 992px) { .search-form .form-group .btn::before { content:''; width: 1.813rem; height: 0.813rem; position: absolute; left: 50%; top: 50%; -webkit-transform: translate(-50%, -50%); transform: translate(-50%, -50%); background-image: url("data:image/svg+xml;base64,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"); background-repeat: no-repeat; background-position: center }}.search-form .close-control { border: none; background: none; padding: 0; display: -ms-flexbox; display: flex; margin-right: 1.125rem}@media (min-width: 1200px) { .search-form .close-control { display:none }}.sf-search-results .sf-media-body { margin-bottom: 1.5rem}footer { background-color: #202020; color: white; padding: 2.5rem 0}@media (min-width: 992px) { footer { margin-top:6rem; padding: 5rem 0 }}footer div { color: inherit}footer h3 { letter-spacing: 0.18em; font-size: 0.625rem; font-weight: 300; text-transform: uppercase; border-top: 1px solid white; margin-top: 2.3rem; padding-top: 2px; margin-bottom: 1.6em; line-height: 1.5}@media (min-width: 768px) { footer h3 { border-top:none; padding-top: 0; line-height: 1.3 }}@media (min-width: 992px) { footer h3 { margin-top:0; margin-bottom: 0.8em; font-size: 0.85rem }}footer ul { list-style: none; padding-left: 0}footer ul li { font-size: 0.625rem; line-height: 1.2; text-transform: uppercase; letter-spacing: 0.18em; font-weight: 500; margin-bottom: 1.6em}@media (min-width: 992px) { footer ul li { font-size:0.85rem; margin-bottom: 0.8em }}footer ul li a { color: inherit; line-height: inherit; font-size: inherit; text-decoration: none}footer ul li a:hover { color: inherit}footer .social-icon { padding: 0.25rem}footer .social-icon:hover { text-decoration: none}footer .social-icon img { width: 1.25rem}.tva-logo { display: block}.tva-logo img { width: 7.25rem}@media (min-width: 992px) { .tva-logo img { width:12rem }}.section-hero { display: -ms-flexbox; display: flex; -ms-flex-direction: column; flex-direction: column; -ms-flex-pack: center; justify-content: center; min-height: 125vw; margin-top: 3.5rem; margin-bottom: 3.5rem; background-size: cover; background-position: center; overflow: hidden; position: relative}.section-hero.cat-env .section-hero-overlay:after { background-color: #6A9033}.section-hero.cat-energy .section-hero-overlay:after { background-color: #E56027}.section-hero.cat-econ .section-hero-overlay:after { background-color: #2C9199}.section-hero.cat-about .section-hero-overlay:after { background-color: #447DAE}.section-hero.cat-kidswhat .section-hero-overlay:after { background-color: #004b85}.section-hero.cat-kidselec .section-hero-overlay:after { background-color: #e43c31}.section-hero.cat-kidsenv .section-hero-overlay:after { background-color: #7fbd42}.section-hero.cat-kidsriv .section-hero-overlay:after { background-color: #29afca}.section-hero.cat-kidshis .section-hero-overlay:after { background-color: #ffc428}.section-hero.cat-kidsres .section-hero-overlay:after { background-color: #004b85}@media (min-width: 576px) { .section-hero { min-height:55vw; margin-top: 2.75rem; margin-bottom: 2.75rem; padding: 4rem 1.5rem 2rem }}@media (min-width: 1200px) { .section-hero { min-height:40vw; margin-top: 3rem; margin-bottom: 3rem }}.section-hero .section-hero-overlay { display: inline-block}.section-hero .section-hero-overlay::after { width: 100vw; height: 800px; -webkit-transform: translate(0, -50%); transform: translate(0, -50%); position: absolute; content: ''; top: 50%; left: 0; mix-blend-mode: multiply}@media (min-width: 768px) { .section-hero .section-hero-overlay { position:relative } .section-hero .section-hero-overlay::after { -webkit-transform: translate(0, -50%) skew(-20deg); transform: translate(0, -50%) skew(-20deg); right: -100px; left: auto }}.section-hero a { text-decoration: none}.section-hero a:hover { text-decoration: none}.section-hero h3 { color: white; font-size: 3.7rem; letter-spacing: -0.03em; font-weight: 700; line-height: 0.85; display: inline-block; margin-bottom: 0.15em; position: relative; z-index: 1}@media (min-width: 768px) { .section-hero h3 { font-size:5.5rem }}@media (min-width: 1200px) { .section-hero h3 { font-size:9rem }}.section-hero p { color: white; width: 15rem; font-size: 1.2rem; letter-spacing: 0.015em; font-weight: 400; line-height: 1.15; position: relative; z-index: 1}@media (min-width: 1200px) { .section-hero p { font-size:1.7rem; width: 20rem }}.slick-arrow { font-size: 0; line-height: 0; position: absolute; display: block; width: 20px; height: 20px; padding: 0; cursor: pointer; color: transparent; border: none; outline: none; background: transparent; z-index: 1}.slick-arrow::before { display: inline-block; width: 0.875rem}.slick-dots { position: absolute; display: block; width: 100%; padding: 0; margin: 0; list-style: none; text-align: center}.slick-dots li { position: relative; display: inline-block; width: 20px; height: 20px; padding: 0; margin: 0 2px; cursor: pointer}.slick-dots li button { font-size: 0; line-height: 0; display: block; width: 20px; height: 20px; padding: 5px; cursor: pointer; color: transparent; border: 0; outline: none; background: transparent}.slick-dots li button::before { font-size: 40px; line-height: 20px; position: absolute; top: 0; left: 0; width: 20px; height: 20px; content: "•"; text-align: center; -webkit-font-smoothing: antialiased; -moz-osx-font-smoothing: grayscale}.hero-carousel { margin-bottom: 0.75rem}.hero-carousel .slick-slider.slick-dotted { margin-bottom: 0}.hero-carousel .slick-dots { bottom: 10px}@media (min-width: 768px) { .hero-carousel .slick-dots { bottom:20px }}.hero-carousel .slick-dots li button::before { color: #f8f8f8; opacity: 0.65}.hero-carousel .slick-dots li.slick-active button::before { color: #f8f8f8; opacity: 1}.hero-carousel .slick-track { display: -ms-flexbox; display: flex}.hero-carousel .slick-slide { height: auto}.hero-carousel .slick-slide:not(.slick-current) { cursor: pointer}.hero-carousel .slick-slide:focus { outline: 0 !important}.hero-carousel .section-hero { margin-top: 0; margin-bottom: 0; height: 100%}@media (min-width: 768px) { .hero-carousel .section-hero { border-left:6px solid white; border-right: 6px solid white }}.hero-carousel-inner div:not(:first-child) { display: none}.hero-carousel-inner.slick-initialized div:not(:first-child) { display: block}.resources-carousel { margin-bottom: 10rem; margin-top: 3.5rem}@media (min-width: 768px) { .resources-carousel { margin-top:2.75rem }}@media (min-width: 1200px) { .resources-carousel { margin-top:3rem }}.resources-carousel h2 { font-size: 1.75rem; font-weight: 500; line-height: 1; width: 7em; border: none; margin-top: 0; padding-top: 0; margin-bottom: 2rem}@media (min-width: 992px) { .resources-carousel h2 { font-size:2.15rem }}.resources-carousel .slick-dots { bottom: -5rem}.resources-carousel .slick-dots li button::before { color: #9f9f9f; opacity: 1}.resources-carousel .slick-dots li.slick-active button::before { color: #414141; opacity: 1}.resources-carousel .slick-arrow { bottom: -5rem}.resources-carousel .slick-prev { left: 0}.resources-carousel .slick-prev::before { content: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 10 14'%3E%3Cpath d='M10 0L0 7l10 7v-3.4310306L4.90071577 7 10 3.42944507z' fill='%23414141' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}.resources-carousel .slick-next { right: 0}.resources-carousel .slick-next::before { content: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23414141' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}.resources-carousel-inner { display: none}.resources-carousel-inner.slick-initialized { display: block}.resources-carousel-item { margin-left: 5px; margin-right: 5px}.resources-carousel-item img { width: 100%}.resources-carousel-item a { display: block; text-decoration: none; margin-top: 2.5rem}.resources-carousel-item a::before { border-top: 5px solid; content: ""; display: block; -webkit-transform-origin: top; transform-origin: top; transition: -webkit-transform 0.2s; transition: transform 0.2s; transition: transform 0.2s, -webkit-transform 0.2s}.resources-carousel-item a:hover,.resources-carousel-item a:focus { color: #717171}.resources-carousel-item a:hover::before,.resources-carousel-item a:focus::before { -webkit-transform: scaleY(1.8); transform: scaleY(1.8)}.resources-carousel-item h3 { font-size: 1.75rem; font-weight: 500; line-height: 1; margin-top: 0; margin-bottom: 0; padding-top: 0.25em; padding-bottom: 0.25em}@media (min-width: 992px) { .resources-carousel-item h3 { font-size:2.15rem }}.resources-carousel-item.cat-env a::before { border-color: #6A9033}.resources-carousel-item.cat-energy a::before { border-color: #E56027}.resources-carousel-item.cat-econ a::before { border-color: #2C9199}.resources-carousel-item.cat-about a::before { border-color: #447DAE}.resources-carousel-item.cat-kidswhat a::before { border-color: #004b85}.resources-carousel-item.cat-kidselec a::before { border-color: #e43c31}.resources-carousel-item.cat-kidsenv a::before { border-color: #7fbd42}.resources-carousel-item.cat-kidsriv a::before { border-color: #29afca}.resources-carousel-item.cat-kidshis a::before { border-color: #ffc428}.resources-carousel-item.cat-kidsres a::before { border-color: #004b85}.home-content,.home-resources { margin-bottom: 2rem}.home-content h3,.home-content h4,.home-resources h3,.home-resources h4 { font-size: 1.75rem; font-weight: 500; line-height: 1; margin-top: 0; margin-bottom: 0; padding-top: 0.25em; padding-bottom: 0.25em}@media (min-width: 992px) { .home-content h3,.home-content h4,.home-resources h3,.home-resources h4 { font-size:2.15rem }}.home-content.cat-env a::before { border-color: #6A9033}.home-content.cat-energy a::before { border-color: #E56027}.home-content.cat-econ a::before { border-color: #2C9199}.home-content.cat-about a::before { border-color: #447DAE}.home-content.cat-kidswhat a::before { border-color: #004b85}.home-content.cat-kidselec a::before { border-color: #e43c31}.home-content.cat-kidsenv a::before { border-color: #7fbd42}.home-content.cat-kidsriv a::before { border-color: #29afca}.home-content.cat-kidshis a::before { border-color: #ffc428}.home-content.cat-kidsres a::before { border-color: #004b85}@media (min-width: 992px) { .home-content { min-height:13rem }}.home-content a { display: block; text-decoration: none}.home-content a::before { border-top: 5px solid; content: ''; display: block; -webkit-transform-origin: top; transform-origin: top; transition: -webkit-transform 0.2s; transition: transform 0.2s; transition: transform 0.2s, -webkit-transform 0.2s}.home-content a:hover,.home-content a:focus { color: #717171}.home-content a:hover::before,.home-content a:focus::before { -webkit-transform: scaleY(1.8); transform: scaleY(1.8)}.home-content p { max-width: 16.7em; letter-spacing: 0.03em; font-weight: 400}@media (min-width: 992px) { .home-content p { margin-right:1em }}.home-resources h4 { margin-bottom: 1rem; border-top: 5px solid}.home-resources.cat-env h4 { border-color: #6A9033}.home-resources.cat-energy h4 { border-color: #E56027}.home-resources.cat-econ h4 { border-color: #2C9199}.home-resources.cat-about h4 { border-color: #447DAE}.home-resources.cat-kidswhat h4 { border-color: #004b85}.home-resources.cat-kidselec h4 { border-color: #e43c31}.home-resources.cat-kidsenv h4 { border-color: #7fbd42}.home-resources.cat-kidsriv h4 { border-color: #29afca}.home-resources.cat-kidshis h4 { border-color: #ffc428}.home-resources.cat-kidsres h4 { border-color: #004b85}.home-resources p { font-weight: 500; margin-bottom: 0.75em}@media (min-width: 992px) { .home-resources p { font-size:1.2rem }}.home-resources a { display: block; text-decoration: none}.home-resources a::after { content: '\2060'; background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23000' fill-rule='nonzero'/%3E%3C/svg%3E%0A"); padding-left: 0.5em; margin-left: 0.75em; background-repeat: no-repeat; background-size: contain; background-position: center; vertical-align: middle}.home-resources a:hover,.home-resources a:focus { color: #717171}.home-resources a:hover::after,.home-resources a:focus::after { background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23717171' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}.bg-img-block { padding: 4.5rem 0; background-size: cover; background-position: left center; margin-bottom: 0.75rem}@media (min-width: 992px) { .bg-img-block { padding:3.4rem 0.5rem; min-height: 18.6rem; height: 100% }}.bg-img-block h3 { font-size: 1.375rem; font-weight: 700; line-height: 1; margin-bottom: 0.75em; color: white}@media (min-width: 992px) { .bg-img-block h3 { font-size:2.1rem; min-height: 2em; max-width: 50%; margin-bottom: 1.5em }}.bg-img-block p { font-weight: 500; max-width: 10rem; color: white}@media (min-width: 992px) { .bg-img-block p { font-size:1.3rem }}.bg-img-block a { display: block; text-decoration: none}.bg-img-block a::after { content: '\2060'; background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23fff' fill-rule='nonzero'/%3E%3C/svg%3E%0A"); padding-left: 0.5em; margin-left: 0.75em; background-repeat: no-repeat; background-size: contain; background-position: center; vertical-align: middle}.bg-img-block a:hover,.bg-img-block a:focus { color: #ddd}.bg-img-block a:hover::after,.bg-img-block a:focus::after { background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 7 10'%3E%3Cpath d='M0 0l6.97451995 4.88216397L0 9.76432793V7.37134881l3.55650596-2.48918484L0 2.39187331z' fill='%23ddd' fill-rule='nonzero'/%3E%3C/svg%3E%0A")}[class*="hover-swap-img"] { display: none}[class*="hover-swap-img"]:first-child { display: block}[class*="hover-swap-area"] { position: relative}@media (max-width: 767.98px) { [class*="hover-swap-area"] { display:none }}[class*="hover-swap-area"] [class*="hover-swap-img"] { display: block; position: absolute; top: 0; left: 0}[class*="hover-swap-area"] [class*="hover-swap-img"]:first-child { z-index: 1; position: relative}[class*="hover-swap-area"] [class*="hover-swap-img"].active { z-index: 2}.breadcrumb { padding: 0; text-transform: uppercase; font-weight: 500; font-size: 0.75rem; letter-spacing: 0.125em; margin-bottom: 1.5rem}.breadcrumb::before { content: 'You are here: '; padding-right: 0.5rem}.breadcrumb li,.breadcrumb li a,.breadcrumb li.active { font-size: inherit; color: inherit; line-height: inherit}.breadcrumb a { text-decoration: none}.breadcrumb a:hover,.breadcrumb a:focus { text-decoration: underline}.lead { border-top: 5px solid; font-size: 1.25rem; font-weight: 500; line-height: 1.5; padding-top: 0.5rem; margin-bottom: 1rem}.page-category-env .lead { border-color: #6a9033}.page-category-energy .lead { border-color: #e56027}.page-category-econ .lead { border-color: #2c9199}.page-category-about .lead { border-color: #447dae}.page-category-kidswhat .lead { border-color: #004b85}.page-category-kidselec .lead { border-color: #e43c31}.page-category-kidsenv .lead { border-color: #7fbd42}.page-category-kidsriv .lead { border-color: #29afca}.page-category-kidshis .lead { border-color: #ffc428}.page-category-kidsres .lead { border-color: #004b85}.card .card-img-top { border-radius: 0}.card .card-body { padding-left: 0; padding-right: 0}.card .card-body .card-title { font-size: 2.15rem; font-weight: 500; line-height: 1; color: inherit; margin-top: 1rem; padding-top: 0.25em; margin-bottom: 0.25em; border-top: 5px solid}.page-category-env .card .card-body .card-title { border-color: #6a9033}.page-category-energy .card .card-body .card-title { border-color: #e56027}.page-category-econ .card .card-body .card-title { border-color: #2c9199}.page-category-about .card .card-body .card-title { border-color: #447dae}.page-category-kidswhat .card .card-body .card-title { border-color: #004b85}.page-category-kidselec .card .card-body .card-title { border-color: #e43c31}.page-category-kidsenv .card .card-body .card-title { border-color: #7fbd42}.page-category-kidsriv .card .card-body .card-title { border-color: #29afca}.page-category-kidshis .card .card-body .card-title { border-color: #ffc428}.page-category-kidsres .card .card-body .card-title { border-color: #004b85}.card .card-body a.btn.btn-primary { color: inherit; font-weight: 400; text-transform: none; letter-spacing: 0.02em; display: inline; font-size: inherit}.form-control { border: 1px solid black; border-radius: 0; text-transform: uppercase; font-size: 0.75rem; font-weight: 500; letter-spacing: 0.125em; height: 2.5rem; box-shadow: none}.btn { background-color: transparent; border-radius: 0; text-transform: uppercase; font-size: 0.75rem; font-weight: 500; letter-spacing: 0.125em; min-height: 2.5rem; padding: 0.6rem 2.5rem}.btn.btn-primary { color: black; background-color: white; border: 1px solid black}.btn.btn-link { color: inherit}.main-body .col,.main-body [class*="col-"] { margin-bottom: 3.5rem}.main-body h2:not(:first-child) { margin-top: 3.5rem}.main-body h3:not(:first-child),.main-body h4:not(:first-child),.main-body h5:not(:first-child),.main-body h6:not(:first-child) { margin-top: 2.5rem}.sidebar h3 { border-top: 1px solid; padding-top: 0.2em}.page-category-env .sidebar h3 { border-color: #6a9033}.page-category-energy .sidebar h3 { border-color: #e56027}.page-category-econ .sidebar h3 { border-color: #2c9199}.page-category-about .sidebar h3 { border-color: #447dae}.page-category-kidswhat .sidebar h3 { border-color: #004b85}.page-category-kidselec .sidebar h3 { border-color: #e43c31}.page-category-kidsenv .sidebar h3 { border-color: #7fbd42}.page-category-kidsriv .sidebar h3 { border-color: #29afca}.page-category-kidshis .sidebar h3 { border-color: #ffc428}.page-category-kidsres .sidebar h3 { border-color: #004b85}.sidebar h2,.sidebar h3,.sidebar h4,.sidebar h5,.sidebar h6 { margin-top: 2.5rem}.sidebar>div:first-child h2:first-child,.sidebar>div:first-child h3:first-child,.sidebar>div:first-child h4:first-child,.sidebar>div:first-child h5:first-child,.sidebar>div:first-child h6:first-child { margin-top: 0}.main-body+.sidebar { padding-left: 0}#mc_embed_signup { margin-bottom: 2.5rem}#mce-EMAIL { border: none; box-shadow: none; border-bottom: 1px solid black; border-radius: 0; padding: 0; width: 100%; height: auto}#mc-embedded-subscribe { border: none; background: none; color: black; font-weight: 500; padding: 0}.table { margin-top: 1.5rem; margin-bottom: 1.5rem}.table td,.table th { padding: 1rem; border: none}.table td:first-child,.table th:first-child { padding-left: 0.4rem}.table td:last-child,.table th:last-child { padding-right: 0.4rem}.table thead th { vertical-align: top; border: none; font-size: 1.25rem; height: 5.75rem}.table th { border-top: 1px solid}.page-category-env .table th { border-color: #6a9033}.page-category-energy .table th { border-color: #e56027}.page-category-econ .table th { border-color: #2c9199}.page-category-about .table th { border-color: #447dae}.page-category-kidswhat .table th { border-color: #004b85}.page-category-kidselec .table th { border-color: #e43c31}.page-category-kidsenv .table th { border-color: #7fbd42}.page-category-kidsriv .table th { border-color: #29afca}.page-category-kidshis .table th { border-color: #ffc428}.page-category-kidsres .table th { border-color: #004b85}.table tbody tr { height: 4.25rem}.table tr { border-top: 1px solid}.page-category-env .table tr { border-color: rgba(106,144,51,0.5)}.page-category-energy .table tr { border-color: rgba(229,96,39,0.5)}.page-category-econ .table tr { border-color: rgba(44,145,153,0.5)}.page-category-about .table tr { border-color: rgba(68,125,174,0.5)}.page-category-kidswhat .table tr { border-color: rgba(0,75,133,0.5)}.page-category-kidselec .table tr { border-color: rgba(228,60,49,0.5)}.page-category-kidsenv .table tr { border-color: rgba(127,189,66,0.5)}.page-category-kidsriv .table tr { border-color: rgba(41,175,202,0.5)}.page-category-kidshis .table tr { border-color: rgba(255,196,40,0.5)}.page-category-kidsres .table tr { border-color: rgba(0,75,133,0.5)}.table-striped tbody tr { border: none}.page-category-env .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(106,144,51,0.27)}.page-category-energy .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(229,96,39,0.27)}.page-category-econ .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(44,145,153,0.27)}.page-category-about .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(68,125,174,0.27)}.page-category-kidswhat .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(0,75,133,0.27)}.page-category-kidselec .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(228,60,49,0.27)}.page-category-kidsenv .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(127,189,66,0.27)}.page-category-kidsriv .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(41,175,202,0.27)}.page-category-kidshis .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(255,196,40,0.27)}.page-category-kidsres .table-striped tbody tr:nth-of-type(2n+1) { background-color: rgba(0,75,133,0.27)}.accordion { margin-top: 2rem; margin-bottom: 2rem}.accordion h2 { font-size: 1.25rem; border-top: 0; padding-top: 0}.accordion .btn { position: relative; width: 100%; text-align: left; padding: 0; text-transform: none; font-size: inherit; font-weight: inherit; letter-spacing: inherit; min-height: 0}.accordion .btn.btn-link::after { content: ''; position: absolute; right: 0; top: 50%; -webkit-transform: translateY(-50%) rotate(-178deg); transform: translateY(-50%) rotate(-178deg); width: 10px; height: 10px; background-image: url("data:image/svg+xml,%3Csvg xmlns='http://www.w3.org/2000/svg' width='20px' height='20px' viewBox='0 0 7 6'%3E%3Cg id='Page-1' stroke='none' stroke-width='1' fill='none' fill-rule='evenodd' %3E%3Cg id='Mobile-Copy-2' transform='translate(-300.000000, -84.000000)' fill='%23414141' fill-rule='nonzero' %3E%3Cg id='Nav2_2' transform='translate(0.000000, 56.000000)' %3E%3Cpolygon id='Path' transform='translate(303.500000, 31.000000) scale(-1, 1) rotate(90.000000) translate(-303.500000, -31.000000) ' points='301 28 306 31 301 34 301 32.5295583 303.549642 31 301 29.4697622' %3E%3C/polygon%3E%3C/g%3E%3C/g%3E%3C/g%3E%3C/svg%3E"); background-size: 10px 10px; background-repeat: no-repeat; background-position: center}.accordion .btn.collapsed::after { content: ''; -webkit-transform: translateY(-50%) rotate(0deg); transform: translateY(-50%) rotate(0deg)}.accordion .card .card-body { padding-left: 1.25rem; padding-right: 1.25rem}.accordion .card .card-body p { margin-bottom: 1rem}.page-category-env .kids-title { color: #6a9033}.page-category-energy .kids-title { color: #e56027}.page-category-econ .kids-title { color: #2c9199}.page-category-about .kids-title { color: #447dae}.page-category-kidswhat .kids-title { color: #004b85}.page-category-kidselec .kids-title { color: #e43c31}.page-category-kidsenv .kids-title { color: #7fbd42}.page-category-kidsriv .kids-title { color: #29afca}.page-category-kidshis .kids-title { color: #ffc428}.page-category-kidsres .kids-title { color: #004b85}.full-bleed { width: 100vw; max-width: none; margin-left: -12px}@media (min-width: 576px) { .full-bleed { margin-left:calc(-50vw + 270px - 12px) }}@media (min-width: 768px) { .full-bleed { margin-left:calc(-50vw + 360px - 12px) }}@media (min-width: 992px) { .full-bleed { margin-left:calc(-50vw + 480px - 12px) }}@media (min-width: 1200px) { .full-bleed { margin-left:calc(-50vw + 570px - 12px) }}.full-bleed-left { max-width: none}@media (min-width: 768px) { .full-bleed-left { margin-left:calc(-50vw + 360px - 12px); width: calc(100% + 50vw - 360px + 12px) }}@media (min-width: 992px) { .full-bleed-left { margin-left:calc(-50vw + 480px - 12px); width: calc(100% + 50vw - 480px + 12px) }}@media (min-width: 1200px) { .full-bleed-left { margin-left:calc(-50vw + 570px - 12px); width: calc(100% + 50vw - 570px + 12px) }}@media (min-width: 120rem) { .full-bleed-left { margin-left:calc(-57rem + 570px - 12px); width: calc(100% + 57rem - 570px + 12px) }}.full-bleed-right { max-width: none}@media (min-width: 768px) { .full-bleed-right { margin-right:calc(-50vw + 360px - 12px); width: calc(100% + 50vw - 360px + 12px) }}@media (min-width: 992px) { .full-bleed-right { margin-right:calc(-50vw + 480px - 12px); width: calc(100% + 50vw - 480px + 12px) }}@media (min-width: 1200px) { .full-bleed-right { margin-right:calc(-50vw + 570px - 12px); width: calc(100% + 50vw - 570px + 12px) }}@media (min-width: 120rem) { .full-bleed-right { margin-right:calc(-57rem + 570px - 12px); width: calc(100% + 57rem - 570px + 12px) }}.sfPageWrapper .site-wrapper { margin-top: 0 !important}.sfPageWrapper .header { position: static !important; height: auto !important; min-height: 0 !important}.sfPageWrapper .section-title h2 { top: 0 !important; left: 0 !important}.sfPageWrapper .hover-swap { display: block !important}.rdTitleBar a::after { content: none}/* unminified custom css by TVA */.col, [class*="col-"] { padding-right: 12px; padding-left: 12px;}.row { display: -ms-flexbox; display: flex; -ms-flex-wrap: wrap; flex-wrap: wrap; margin-left: -12px; margin-right: -12px; margin-bottom: 0;}.rule-above-energy { margin-top: 1.5rem; border-top: 1px solid; border-color: #e56027; margin-bottom: .75rem; line-height: 1.5; box-sizing: border-box;}.rule-above-env { margin-top: 1.5rem; border-top: 1px solid; border-color: #6a9033; margin-bottom: .75rem; line-height: 1.5; box-sizing: border-box;}.rule-above-econ { margin-top: 1.5rem; border-top: 1px solid; border-color: #2c9199; margin-bottom: .75rem; line-height: 1.5; box-sizing: border-box;}.rule-above-about { margin-top: 1.5rem; border-top: 1px solid; border-color: #447dae; margin-bottom: .75rem; line-height: 1.5; box-sizing: border-box;}.section-hero h1 { color: white; font-size: 3.7rem; letter-spacing: -0.03em; font-weight: 700; line-height: 0.85; display: inline-block; margin-bottom: 0.15em; position: relative; z-index: 1;}@media (min-width: 768px) { .section-hero h1 { font-size: 5.5rem; }}@media (min-width: 1200px) { .section-hero h1 { font-size: 9rem; }}.card { border: none} .skip-nav {position:absolute;left:-10000px;top:auto;width:1px;height:1px;overflow:hidden;} Skip to main content
Skip to main content

TVA Reports First Quarter Fiscal Year 2024 Financial Results

Jan 30, 2024

Contact: Melissa Greene

Share this Story

   

Release Summary

  • TVA’s energy system is one of the nation’s most diverse, affordable, reliable, and resilient.
  • Total operating revenues decreased 8%, primarily due to a decrease in fuel cost recovery revenue, driven by lower fuel rates.
  • TVA is a national leader -- 58% of TVA’s power supply came from clean energy sources - including nuclear, hydroelectric, and renewables.
  • TVA’s senior leadership team will host a conference call and webcast at 9:30 a.m. ET today to discuss the first quarter fiscal year 2024 results. Please click here to pre-register.

KNOXVILLE, Tenn. ― The Tennessee Valley Authority reported $2.8 billion in total operating revenues on 37 billion kilowatt-hours of electricity sales for the three months of fiscal year 2024 ending Dec. 31, 2023.  Total operating revenues decreased 8% over the same period last year, primarily due to a decrease in fuel cost recovery revenue, driven by lower fuel rates.  Sales of electricity decreased approximately 2% compared to the same period of the prior year, driven by overall milder weather.

“Meeting this month’s all-time record power demand illustrates that TVA’s power system is one of the most diverse, affordable, reliable and resilient electric grids in the nation,” said Jeff Lyash, TVA President and CEO. “Meeting that demand took a village. I am extraordinarily proud that, working together, TVA and our local power company (LPC) partners kept everyone safe and warm.

“Meeting a historic demand for electricity is a challenge, but changes in the region and across the nation intensify this task,” Lyash continued. “In the last three months alone, TVA invested nearly $123 million to enhance reliability and resiliency at our coal, gas, and hydro facilities. We’ve also committed to invest $15 billion in our system over the next three years, deliver 10,000 megawatts of solar by 2035 and invest $1.5 billion over the next 4 years to expand energy efficiency and demand response programs. As we build this diverse set of assets to meet growing demand, there is a range of strongly held views that advocate for one technology over another: only renewables; just energy efficiency; hydrogen over natural gas; continue with coal; why build this plant in my community? The expression of these views is healthy and should always be part of the process.  I believe that being inclusive and listening to all voices contributes to good decision-making. And keeping our customers and stakeholders transparently informed and engaged throughout the process is vital.”

Fuel and purchased power expenses were $251 million lower in the first quarter of fiscal year 2024 over the same period of the prior year, primarily due to lower effective fuel rates and lower purchased power market prices.  For the first three months of fiscal year 2024, 58% of TVA’s power supply was carbon-free - coming from nuclear, hydroelectric and other renewables.

“TVA and our 153 local power company partners consistently provide some of the nation’s lowest priced power which fuels significant economic growth across the region,” said John Thomas, TVA Chief Financial and Strategy Officer. "As our results continue to show, TVA is maintaining low rates for our customers today, even as we invest substantially to make our system more reliable, expand our capacity and add cleaner energy resources for the future.”

Operating and maintenance expenses increased by $40 million over the same period last year, driven primarily by increased labor and contract labor costs.  Depreciation and amortization expense decreased $12 million primarily due to the Bull Run Fossil Plant fully depreciating in the fourth quarter of 2023.

TVA’s net income was $127 million for the first quarter of fiscal year 2024, $26 million higher than the same period of the prior year, primarily due to lower operating expenses.  

TVA’s senior leadership team will host a conference call and webcast today to discuss the first quarter fiscal year 2024 results at 9:30 a.m. ET.  Please click here to pre-register.  A webcast replay and transcript will also be available for one year on TVA’s website at tva.com/investors.

Selected Financial Data – Twelve Months Ended December 31

Sales, Revenues & Expenses 20232022
Sales (millions of kWh) 37,33538,006
   
Operating Revenues ($ millions) $                              2,765$                              3,015
   
Fuel & Purchased Power Expense 8551,106
Operating & Maintenance Expense 867827
Interest Expense 262262
   
Net Income $                              127$                              101
   
Net Cash Provided by / (Used in) ($ millions)  
Operating Activities $                              393$                              439
Investing Activities (1,002) (876)
Financing Activities 606437

TVA’s annual report on Form 10-K provides additional financial, operational, and descriptive information, including audited financial statements for the year ended Dec. 31, 2023. TVA’s annual report and other SEC reports are available without charge on TVA’s website at tva.com/investors, on the SEC’s website at sec.gov, or by calling TVA toll-free at 888-882-4975.

This release may contain forward-looking statements relating to future events and future performance. Although TVA believes that the assumptions underlying these statements are reasonable, numerous factors could cause actual results to differ materially from those in the forward-looking statements. Please refer to TVA’s most recent annual report on Form 10-K and quarterly report on Form 10-Q for a discussion of factors that could cause actual results to differ from those in the forward-looking statements.

About TVA

The Tennessee Valley Authority is the nation’s largest public power supplier, delivering energy to 10 million people across seven southeastern states. TVA was established 90 years ago to serve this region and the nation by developing innovative solutions to solve complex challenges. TVA’s unique mission focuses on energy, environmental stewardship, and economic development. With one of the largest, most diverse, and cleanest energy systems – including nuclear, hydro, solar, gas, and advanced technologies – TVA is a leader in our nation’s drive toward a clean energy future.

TVA is a corporate agency of the United States, receiving no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation, and land management for the Tennessee River system, and assists local power companies and state and local governments with economic development and job creation.

Contact

Melissa Greene
TVA Media Relations
[email protected]
865-632-6000

Investor Relations

Tom Rice, Knoxville, 865-632-3366 or 888-882-4975
Josh Carlon, Knoxville, 865-632-4133 or 888-882-4975
tva.com/investors

TVA Media Line

Our media staff is available 24 hours a day. If you cannot reach the contact above, please call our media line at 865-632-6000.