TVA Reports Second Quarter Fiscal Year 2024 Financial Results
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TVA reported$5.9 billion in total operating revenues as sales of electricity increased approximately 3% compared to the same period last year. - Total operating revenues decreased 1% primarily due to a decrease in fuel cost recovery revenue, driven by lower fuel and purchased power prices.
- During the quarter, TVA successfully met an all-time power demand record of 34,577 megawatts, surpassing the previous record of 33,482 set in
August 2007 .
"
Fuel and purchased power expense was
Operating and maintenance expense increased by
"Our customers continue to benefit from
Interest expense was
Selected Financial Data – Six Months Ended |
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Sales, Revenues & Expenses |
2024 |
2023 |
Sales (millions of kWh) |
77,971 |
75,659 |
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Operating Revenues ($ millions) |
$ 5,919 |
$ 5,974 |
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Fuel & Purchased Power Expense |
1,868 |
2,199 |
Operating & Maintenance Expense |
1,756 |
1,650 |
Interest Expense |
528 |
530 |
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|
|
Net Income |
434 |
149 |
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Net Cash Provided by / (Used in) ($ millions) |
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|
Operating Activities |
$ 1,431 |
$ 1,154 |
Investing Activities |
(1,772) |
(1,495) |
Financing Activities |
348 |
342 |
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
The
Media Contact: |
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Investor Relations: |
Investor Relations, 888-882-4975 |
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