In a quarterly filing with the Securities and Exchange Commission, TVA said cheaper fuel and other operating expenses helped the federal utility reverse the losses it incurred in the same 3-month period a year ago.
TVA lost $305 million in the final three months of 2008 on revenues of nearly $3.1 billion. Last year’s results were hurt by $525 million in expenses incurred for the coal ash spill at the Kingston Fossil Plant at the end of 2008.
During the most recent quarter, TVA spent $608 million on fuel and purchased power, or less than half the $1.38 billion spent for fuel and purchased power in the same period a year ago.
In its SEC filing, TVA said it projects that electricity sales for all of fiscal 2010 will be below those in 2009, which already were down 7 percent from the 2008 totals.