Feb 13, 2025
The TVA Board of Directors met earlier today for their regularly scheduled quarterly meeting in the Knoxville Office Complex Auditorium. The meeting reinforced TVA’s commitment to investing in our power system to ensure affordable, reliable and resilient power for the 10 million people of the Valley region.
“TVA is an incredibly important institution to the Tennessee Valley and to the nation,” said Jeff. “TVA is stronger than ever, delivering for the people we serve and committed to long-term energy security. That is the value our people deliver across TVA.”
Continue reading for more information about the topics discussed during today’s meeting and rewatch the full meeting here.
Team performance and overcoming challenges
The meeting began with a video highlighting the team’s response to recent winter weather and how we worked together to meet the challenge of a new all-time peak power demand.
- On Jan. 22, TVA’s team and system met the highest peak power demand in our history – more than 35,000 megawatts which is more than 2% higher than our previous record.
- Our system remained stable through several days of extremely high demand.
- Jeff thanked the team for working around the clock to keep the people of the Valley safe and warm.
“The true strength of TVA is its people,” said Jeff. “We have an experienced and talented team committed to improving the quality of life for more than 10 million people across our region. I am incredibly proud of the way they show up every day. Their service makes a difference.”
Growth and investment
After facing and meeting all-time peak power demands for two consecutive years, we know investment in our power system is necessary to meet the future energy needs of the Valley region. Jeff shared that TVA is aligned with the current administration’s energy policies and will continue to work to ensure a secure, American-made energy future.
- For the past five years, the Valley region has experienced significant growth leading to increased load demand due to the growing population, industrial electrification and onshoring of manufacturing.
- We are working to improve the reliability of our fleet to top quartile in the industry.
- Our Hydro Life Extension program has and will continue to improve dam safety, increase hydro generation output and extended the life of our hydro assets for decades.
- TVA plans to invest nearly $16 billion in new generation and transmission over the next several years.
- Pending required approvals and completion of applicable legal reviews and processes, we plan to add 5,500 megawatts of firm, dispatchable generation by 2029.
- We recently announced our partnership to support initial planning and evaluation for the first potential SMR at TVA’s Clinch River Nuclear site in Oak Ridge, Tenn.
Approval to surplus property
EVP, Chief Administrative Officer Jeannette Mills presented to the Board on the possibility of selling or otherwise divesting/surplusing two of the five buildings at the Chattanooga Office Complex (COC). The Board approved the surplus of the Blue Ridge and Missionary Ridge buildings.
- The COC opened in 1985 when TVA employed over 50,000 individuals.
- Today we have roughly 11,000 employees with many in plants or working in the field.
- This decision helps us continue to be good financial stewards and keep energy costs low for those in the Valley region.
- The sale or divestment of Blue Ridge and Missionary Ridge will not impact our return to office plans, as the remaining space will adequately accommodate all employees.
Additionally, the Board:
- Received an update on TVA’s financial performance?for the first quarter, which was publicly released on Feb. 5.
- Elected Bill Renick of Ashland, Miss. as the New Chair Elect to serve a two-year term as Board Chair.
- Voted to approve the Shawnee SO2 Controls project.
- Recognized Miles Yaw, Civil Engineer – Hydrology in River and Resources Stewardship and TVA’s 43rd Engineer of the Year.