KNOXVILLE, TN – The Tennessee Valley Authority closed FY 2026 with a clear focus on the priorities that matter most to customers: affordability and reliability. During its Nov. 10 meeting in Knoxville, the TVA Board of Directors received an overview of the agency’s FY 2026 accomplishments, including progress on new generation, system reliability, financial discipline and customer-focused programs.
“As a Board, we remain laser focused on fundamentals that matter most to the families and businesses we serve, such as keeping electricity affordable, maintaining system reliability and ensuring TVA is positioned to meet the region’s growing energy needs,” said TVA Board Chair Mitch Graves. “The FY 2026 accomplishments reflect disciplined investments, strong oversight and a continued commitment to delivering value to communities.”
As energy demand continued to grow across the region, TVA employees delivered strong performance by maintaining reliability, advancing major generation and transmission projects, managing costs and preparing the power system for the future.
“Our employees are committed to reliably serving the Tennessee Valley, especially as energy demand continues to rise year over year,” said Mike Skaggs, TVA Interim President and CEO. “They are safely operating our assets to maximize performance and deliver every available megawatt, building the power system needed to meet future demand, and helping communities attract new industries, investment and jobs.”
A Year Focused on Customer Affordability and Reliability
FY 2026 highlights include:
- Protecting Grid Reliability and Affordability from Data Center Impacts: Approved an industry-leading data center standard offer that provides clear guidance to those who want to invest in the region. The standard offer includes a dedicated wholesale rate structure and upfront capacity charge to ensure customer affordability is protected. These large loads will also be interruptible to ensure system reliability.
- Nuclear Innovation: Achieved a historic milestone when the U.S. Nuclear Regulatory Commission issued a construction permit for the Clinch River Small Modular Reactor site. The first permit in the nation for the BWRX-300 technology positions the region as a leader in advanced nuclear technology and supports long-term energy security, economic growth and power reliability.
- Meeting Power Demand: Continued investment in transmission system upgrades – including over 415 miles of conductor and fiber; enough line to stretch from Memphis to beyond Knoxville. Achieved first fire for approximately 1,450 megawatts at the Cumberland Combined Cycle Natural Gas Plant. Combined with continued readiness efforts across TVA’s gas, hydro, coal and nuclear fleet, these investments are helping ensure reliable, affordable power as demand across the region continues to grow.
- Energy Efficiency and Demand Response: Partnered with local power companies and communities to enable more than 400,000 residents, 4,500 businesses, and 121 schools to save energy and lower power bills across the region. Since October 2023, TVA’s energy efficiency programs have delivered almost $1.36 billion in lifetime energy savings for participants. Businesses, residents, and LPCs also partnered with TVA on Demand Response programs to provide nearly 2,000 megawatts of capacity to meet peak demands. Those programs benefit end-users, enable economic development, and support reliability.
- Economic Development: Helped attract more than $10 billion in projected capital investment which is expected to create more than 10,100 jobs and retain over 46,400 jobs – earning Site Selection Magazine recognition for 21 years in a row. Over the past five years, TVA has helped create over $45 billion in projected capital investment, which is expected to bring more than 68,000 new jobs and retain more than 218,000 jobs.
- Improved Transparency and Community Engagement: Established a Landowner Task Force to strengthen relationships with private property owners and communities as the agency expands energy infrastructure. This is critical as TVA expands energy infrastructure and invests over $13 billion through FY29 in existing resources, new generation, and transmission system enhancements to maintain reliability and expand capacity.
“These accomplishments reflect TVA’s commitment to delivering reliable power at the lowest feasible rates while investing in the region’s continued growth,” Skaggs said. “We remain committed to the mission that has guided TVA for generations: powering communities and improving quality of life across the Tennessee Valley region.”
Media Release/Scott Fiedler, Chattanooga/ Melissa Greene, Knoxville/ TVA Public Relations
