TVA Releases Final Integrated Resource Plan
KNOXVILLE, Tenn. – The Tennessee Valley Authority released its final Integrated Resource Plan and associated Environmental Impact Statement on Friday that evaluates options to meet the region’s power generation needs over the next 20 years.
Under development since February 2018, TVA’s IRP is a power planning roadmap that examines a variety of economic, regulatory and market-driven scenarios and strategies – both within and outside TVA’s control – to help TVA respond to changing energy demands while continuing to provide reliable power at the lowest possible cost.
“The 2019 IRP emphasizes the importance of flexibility in our generation in response to the changing energy marketplace,” said Laura Campbell, TVA vice president of Enterprise Planning. “TVA looked at a wide range of possible futures, and flexibility is important in every case to ensure a reliable power supply.”
TVA is updating its 2015 IRP due to continuing dramatic changes in the utility industry. Such changes include abundant, lower-cost natural gas, decreased cost of renewable generation, and increased focus on energy conservation efforts.
The final IRP and its associated Environmental Impact Statement are available to the public at www.tva.com/irp.
In addition to the IRP and EIS, TVA has posted an official Recommendation that will go to a board vote at the August 22 meeting. Once the board votes, TVA will post a Record of Decision to officially close out the 2019 IRP process.
The IRP study demonstrates that TVA will continue to provide low-cost, reliable and clean electricity into the future and that resource additions will build on TVA’s existing diverse asset portfolio. IRP study results show:
- There is a need for new capacity in all scenarios to replace expiring or retiring capacity.
- Solar expansion plays a substantial role in all futures.
- Gas, storage and demand response additions provide reliability and/or flexibility.
- No baseload resources (designed to operate around the clock) are added, highlighting the need for operational flexibility in the resource portfolio.
- Additional coal retirements occur in certain futures.
- Energy efficiency levels depend on market depth and cost-competitiveness.
- Wind could play a role if it becomes cost-competitive.
- In all cases, TVA will continue to provide for economic growth in the Tennessee Valley.
TVA hosted public meetings throughout the process in three states and seven locations including Memphis, Knoxville, Huntsville and Bowling Green. Public engagement also included webinars, social media and online resources.
“We really appreciate the level of involvement we’ve had from the public to develop the IRP,” said Joe Hoagland, TVA vice president, Enterprise Relations. “We received over 1,200 comments from the public and had wonderful engagement from a broad group of stakeholders from all seven states and diverse backgrounds and expertise.”
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power companies serving nearly 10 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.
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.