CHATTANOOGA, Tenn. — TVA Executive Vice President & Chief Financial Officer John Thomas announced today that Thomas C. “Tom” Rice has been promoted to vice president of Financial Operations & Performance, effective immediately.

As vice president of Financial Operations & Performance, Rice will be responsible for Capital Allocation & Portfolio Management, Generation Finance & Business Operations, and Business Planning & Analysis.

Rice has 16 years of experience in the utility business with TVA. He most recently served as director of Business Planning & Analysis, with responsibility for Internal Financial Analysis & Reporting, Benchmarking & Enterprise Performance, and Operations & Corporate Business Planning.

Previously, Rice was director of Demand Side Pricing & Strategy in Pricing & Contracts, where he interacted regularly with TVA’s customers and customer groups around TVA’s rate products, interruptible portfolio and wholesale rate strategy. During his career at TVA, he has held management positions in Capacity Planning & Fleet Strategy, Metrics & Performance Analysis and Real Time Power Trading.

“Tom has provided leadership for critical strategic initiatives over the past few years — from the 2015 Integrated Resource Plan to our rate strategy to the analysis behind major asset decisions,” said Thomas. “He is a strong addition to our leadership team.”

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving more than 9 million people in parts of seven southeastern states. TVA receives 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.