TVA to pay 'winning performance' bonuses to 10,700 workers next week

TVA to pay 'winning performance' bonuses to 10,700 workers next week

Although down from last year, average worker will get over $9,500

November 15th, 2016 by Dave Flessner in Business Around the Region

TVA employees will have extra reason to be thankful during next week's Thanksgiving holiday.

The utility's 10,700 employees will share in $102 million of winning performance payments next week based upon the utility's record in the past year of achieving record high income while cutting the average price of power delivered to the 9 million people across its 7-state region.

In its year-end financial report released today, TVA disclosed the year-end bonus payments for TVA's full-time staff based upon how the utility did in meeting a host of performance metrics. The winning performance payments will average more than $9,532 per worker, although that amount will vary widely according to what individuals are paid and what division they work within TVA.

The workers are scheduled to receive the yearly bonus checks next week, just ahead of Thanksgiving.

The winning performance payments are down from the previous year when TVA paid a total of $113 million to 10,900 workers, or an average of nearly $10,367 per worker.

Although TVA boosted its net income in the past year to a record high $1.2 billion and cut the average cost of power by 2.3 percent, TVA failed to meet it performance goals for nuclear power generation, TVA officials said.

Read more in tomorrow's Times Free Press