## TVA Reports Strong Fiscal Year 2024 Results: Revenue Growth, Clean Energy Leadership, and Economic Impact
The Tennessee Valley Authority (TVA) announced robust financial results for fiscal year 2024, ending September 30th. The organization reported $12.3 billion in total operating revenues, a 2% increase compared to the previous year. This growth was fueled by a combination of higher effective base rates and increased electricity sales, which rose by approximately 4%. This increase in sales can be attributed in part to a significant 20% surge in cooling degree days, reflecting the impact of extreme weather conditions.
Despite the challenges posed by extreme temperatures and natural disasters, TVA’s workforce demonstrated resilience and delivered record performance. TVA President and CEO, Jeff Lyash, emphasized the organization’s dedication to providing reliable and affordable power to its customers while simultaneously investing in the reliability and resilience of its energy system and advancing cleaner energy solutions.
TVA’s commitment to clean energy is evident in its power supply composition, with over 50% coming from carbon-free sources, including nuclear, hydroelectric, and other renewables. This commitment reaffirms TVA’s position as a leader in the nation’s transition towards a clean energy future.
Beyond its energy production, TVA is a driving force in economic development within the Tennessee Valley region. The organization’s efforts to attract and expand businesses in the region have resulted in projected capital investments of $8.9 billion, creating over 10,000 jobs and retaining over 42,000 existing jobs. These accomplishments demonstrate TVA’s dedication to fostering economic growth and prosperity within its service area.
TVA’s senior leadership team will host a conference call and webcast today at 9:30 a.m. ET to delve deeper into the fiscal year 2024 results. Interested parties can pre-register for the call here. A replay of the webcast and transcript will be available on TVA’s website at http://www.tva.com/investors one year from the date of the event.
To gain a comprehensive understanding of TVA’s performance, including detailed financial statements, the organization’s annual report on Form 10-K is available on TVA’s website, the SEC’s website, or by calling TVA toll free at 888-882-4975. The report provides a complete overview of TVA’s financial, operational, and descriptive information for the year ended September 30, 2024.
In addition to its impressive financial results, TVA’s FY24 Corporate Annual Report showcases the stories of the dedicated men and women of TVA and its partner agencies who have made significant contributions to the organization’s success.
The Tennessee Valley Authority remains a cornerstone of the southeastern region, providing energy to 10 million people across seven states. As the nation’s largest public power supplier, TVA’s commitment to energy, environmental stewardship, and economic development ensures a brighter future for the region and the nation.
### Learn more about TVA’s journey towards an Energy System of the Future.
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