All I can say to you TeaParty330 is if you and your new party can solve the out of control CEO pay of major corporations then that will be truly be a step in the right direction. Meanwhile, TVA execs are paid well below the average of other utilities in the same industry. It is ironic that your party is against healthcare for all and yet when you look at, for example, the CEO of HealthCare of America he pulled down three times as much as the CEO of a company that actually produces something for consumer use (TVA). Oh and TVA does have projects under construction, actually a nuclear reactor is under constructon and set to go online at Watts Bar in the near future. Bellefonte is on the board to finish what was started years ago, and there are numerous transmission projects scheduled to maintain the reliability the valley has become accustomed to. A combustion turbine gas plant is under construction in West Tennessee and one is to be built in East Tennessee as well. Twenty years ago there was tremendous waste and neglect of obligation within the company and as a result TVA basically has had to reorganize to remain competitive. Reagan actually started in the early eighties when most represented crafts were essentially done away with. Projects were shut down and people and towns in the valley was hit hard.
It is hard to say we live in a depressed part of the country when Blue Cross can afford to build a luxury office complex within walking distance of downtown Chattanooga. TVA is one entity of the federal government that strives to do the right things and is a vital part of the success of this region.
More information that was left out of the article: The Tennessee Valley Authority, a corporation owned by the U.S. government, provides electricity for utility and business customers in most of Tennessee and parts of Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia – an area of 80,000 square miles with a population of 9 million. TVA operates 29 hydroelectric dams, 11 coal-fired power plants, three nuclear plants and 11 natural gas-fired power facilities that can produce about 34,000 megawatts of electricity, delivered over 16,000 miles of high-voltage power lines. TVA also provides flood control, navigation, land management and recreation for the Tennessee River system and works with local utilities and state and local governments to promote economic development across the region. TVA, which makes no profits and receives no taxpayer money, is funded by sales of electricity to its customers. Electricity prices in TVA’s service territory are below the national average.
To deltenney: You want the rest of the story? If TVA was a private investor owned utility your rates WOULD go up as a result. Think about it! An investor owned utility is focused on profit for it's shareholders, TVA is focused on keeping rates as low as possible for the valley. This has been the goal of TVA since day one. The executive compensation is far below the average of other utilities and as an employee, our salaries are market based and performance driven and we have the same opportunities as you to better ourselves. Could you do the job of a CEO? If you could then why don't you? It is articles like this that keep people like you UNINFORMED about the true vision of TVA versus the vision of other investor owned utilities. Do some research into other companies and then compare salaries. I think you will find a different headline than what this article is trying to imply.