The Resource Tennessee Valley Authority: Assessment of the 10-Year Business Plan

Tennessee Valley Authority: Assessment of the 10-Year Business Plan

Label
Tennessee Valley Authority: Assessment of the 10-Year Business Plan
Title
Tennessee Valley Authority: Assessment of the 10-Year Business Plan
Contributor
Subject
Language
eng
Summary
I am pleased to be here today to summarize the results of our work analyzing the Tennessee Valley Authority's (TVA) 10-year business plan. My testimony is based on our April 1999 report, 1 which assesses the plan in depth. Restructuring of the electricity industry has led to wholesale competition, which, combined with other factors, has caused wholesale electricity prices to fall in many parts of the country. This increased competition led TVA management to develop this plan to position TVA to be more competitive by, among other things, reducing its high debt servicing and other fixed costs. Because of concerns about TVAs ability to achieve the 10- year plan's objectives by 2007-when competitive pressures are likely to be greater and when many of TVAs long-term contracts could expire-we were asked to determine whether TVA will be able to reduce debt as envisioned in the plan and whether its goals and assumptions regarding capital expenditures and revenues and expenses are achievable or reasonable. Specifically, my testimony today will discuss the findings from our April 1999 report concerning * whether the plan objectives address the key issues confronting TVA, * major costs that were not included in the plan, * whether the goals and assumptions in the plan are achievable or reasonable, and TVAs plans to formally update the plan for significant changes. In summary, TVAs 10-year plan is moving TVA in the right direction by addressing the most important issues facing TVA: its high fixed financing costs and limited financial flexibility and the large amount of deferred assets that TVA has not recovered through rates. However, because TVAs actual experience and assumptions about certain major costs have varied in significant ways from those envisioned in the 10-year plan, it is unlikely that TVA will generate sufficient cash flow to reduce debt and the corresponding fixed interest costs to the extent stated in the plan through
Cataloging source
DTICE
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Calbom, Linda M
  • GENERAL ACCOUNTING OFFICE WASHINGTON DC ACCOUNTING AND INFORMATION MANAGEMENT DIV
http://library.link/vocab/subjectName
  • Management planning and control
  • Public utilities
  • Tennessee
  • Municipalities
  • Cost analysis
  • Long range(time)
  • Electricity
  • Energy consumption
  • Contracted services
  • Administration and Management
  • Non-electrical Energy Conversion
Label
Tennessee Valley Authority: Assessment of the 10-Year Business Plan
Instantiates
Publication
Note
Testimony: Before the Subcommittee on Water Resources and Environment, Committee on Transportation and Infrastructure, House of Representatives
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
18 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227902911
  • (OCoLC)ocn227902911
Label
Tennessee Valley Authority: Assessment of the 10-Year Business Plan
Publication
Note
Testimony: Before the Subcommittee on Water Resources and Environment, Committee on Transportation and Infrastructure, House of Representatives
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Extent
18 pages
Form of item
online
Governing access note
APPROVED FOR PUBLIC RELEASE
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Note
Hein Online
System control number
  • (OCoLC)227902911
  • (OCoLC)ocn227902911

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