KNOXVILLE—The Tennessee Valley Authority reported Tuesday that electricity sales were relatively flat in the first quarter of fiscal year 2013, total revenues were consistent with the prior year, and net income was down.
“TVA’s total operating revenues remain on plan,” new President and Chief Executive Officer Bill Johnson said. “We continue to drive performance and process improvements in order to provide cleaner and low-cost energy to our customers.”
Higher off-system sales as a result of excess generation and closer-to-normal temperatures for the period, compared with even warmer weather a year ago, contributed to a slight 0.2 percent increase in total electricity sales, TVA said in its quarterly filing to the U.S. Securities and Exchange Commission for the three months ended Dec. 31, 2012.
