All Reports

The Tennessee Valley Authority’s (TVA) Enterprise Risk Management (ERM) business unit (BU) focuses on identifying and prioritizing enterprise risks.  Annually, ERM leads the preparation of an enterprise risk portfolio, which includes risks across TVA, to aid leadership in strategic and business planning processes.  Each BU includes their specific risks in the portfolio and documents the probability of occurrence, financial impact, and actions to manage the risk.  TVA Generation included Original Equipment Manufacturer (OEM) reliance risk in its fiscal year (FY

The Tennessee Valley Authority’s (TVA) demand response (DR) programs offer incentives for electric utility customers to reduce their energy use during peak demand, which reduces the need for generation and helps support the reliability of the local electric grid.  TVA entered into a DR power supply agreement with a company on January 1, 2021, to administer a TVA DR program.  Our audit objective was to determine if the company complied with the payment and DR performance provisions of the contract.  Our audit included approximately $11.7 million in costs paid from J

The Tennessee Valley Authority’s (TVA) Power Service Shop (PSS) performs work for internal and external customers, including mechanical, electrical and civil work.  PSS invoiced approximately $128 million for 161 projects for external customers that were closed in fiscal years (FY) 2024 or 2025.  According to PSS, approximately 99 percent of the external revenue is received from federal customers.  TVA Standard Programs and Processes (SPP) 13.007, Other Revenue (External Business), requires TVA to recover all costs for providing produc

According to Title 10 of the Code of Federal Regulations, Section 50.75 (10 CFR § 50.75), nuclear licensees that operate nuclear facilities will provide reasonable assurance that funds will be available for the decommissioning of its licensed nuclear units and provides guidance for a minimum funding amount for the decommissioning.  The Tennessee Valley Authority (TVA) established the Nuclear Decommissioning Trust (NDT) to be used to retire long-lived nuclear assets. Additionally, TVA established an Asset Retirement Trust (ART) to cover any additional decommissioning costs no

In August 2019, the Tennessee Valley Authority (TVA) Board of Directors approved the installation of aeroderivative combustion turbines (CTs), a first-of-its-kind technology for TVA.  The site of the former Johnsonville Fossil Plant was selected for the aeroderivative generation.  TVA initiated the Johnsonville Aeroderivative CT project in September 2019 with a planned project cost of $498.5 million and an in‑service date of September 2023.  In December 2021, the planned project cost increased to $598.9 million due to changes in the model o

We performed an audit of costs billed to the Tennessee Valley Authority (TVA) by a contractor for services in connection with the construction permit application for deployment of a BWRX-300 small modular reactor at the TVA Clinch River Nuclear site.  Our audit objective was to determine if costs billed to TVA were in accordance with the contract’s terms.  Our audit scope included approximately $31.6 million in costs billed from July 1, 2022, through August 31, 2025. 

We performed an audit of costs billed to the Tennessee Valley Authority (TVA) by a company for services related to cooling tower fill repair at Watts Bar Unit 1.  The objective of our audit was to determine if costs were billed in compliance with the contract’s terms.  Our audit scope included about $18.4 million in costs paid from October 2, 2023, through December 31, 2025.

The Tennessee Valley Authority (TVA) initiated the Allen Aeroderivative Combustion Turbine (CT) project in May 2023.  The purpose of the project was to install 6 aeroderivative CTs that would replace 200 of the 240 megawatts lost when TVA demolished 16 CT units at the Allen CT site in Memphis, Tennessee.  TVA’s Generation Projects and Outage Management organization is responsible for executing the Allen Aeroderivative CT project.  Because aeroderivative technology is new to TVA, we performed an evaluation to determine whether the Allen Aeroderivative CT project (1)&nbsp

The Tennessee Valley Authority (TVA) entered into a partnership with state agencies, local power companies (LPCs), and third-party developers to create a foundational network of publicly available electric vehicle (EV) fast-charging stations in its seven-state region.  The Fast Charge Network (FCN) program was designed to support installation of fast charging stations at least every 50 miles along interstates and major highways. 

The Tennessee Valley Authority (TVA) operates Browns Ferry Nuclear Plant (Browns Ferry), Sequoyah Nuclear Plant (Sequoyah), and Watts Bar Nuclear Plant (Watts Bar), which have a combined generating capacity to power more than 4.5 million homes and businesses.  During calendar years (CY) 2024 through 2025, these three nuclear plants used about 1,410 fuel assemblies combined.