Extreme summer and winter temperatures and a slowly improving economy increased demand for electricity from utility Tennessee Valley Authority (TVA) by about 6% in fiscal 2010, compared with the previous year.
TVA also reports that it has added to its renewable energy portfolio during fiscal 2010. The corporation signed seven contracts to purchase a total of up to 1,380 MW of wind power capacity from the Midwest, which has a greater capacity to produce wind power than the Southeast, according to TVA.
TVA also contracted with a company to manage a demand-response program with large-business and industrial customers to reduce TVA's peak electricity load by up to 560 MW.
TVA's revenues decreased 3% during the fiscal year, which ended Sept. 30, to $10.9 billion from the previous year. The $381 million drop resulted mainly from lower prices.
SOURCE: Tennessee Valley Authority