KNOXVILLE—The Tennessee Valley Authority reported Monday that electricity sales were lower in the third quarter of fiscal year 2013 than for the prior period due largely to mild temperatures, while heavy rainfall boosted low-cost hydroelectric generation.

“Both sales and revenues were down in the third quarter. This was offset largely by our efforts to reduce operating costs,” TVA President and Chief Executive Officer Bill Johnson said. “We are focused on making sure TVA lives within our means to continue to keep rates low for our customers and the people of the Tennessee Valley.” [Read more…]