TVA President and CEO Jeff Lyash Announces Intent to Retire

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KNOXVILLE, TN— After an industry career spanning more than 40 years, Jeff
Lyash, Tennessee Valley Authority President and Chief Executive Officer, has announced his
plans to retire no later than the end of the fiscal year. Lyash has served as TVA’s CEO for
nearly six years and will continue to lead TVA until the Board of Directors selects a successor.

“For the past six years, it’s been my privilege to serve with an experienced, talented
team at TVA,” said Lyash. “TVA truly is a special place – created more than 90 years ago to
improve the quality of life for more than 10 million people across this region. That mission of
service continues to be our focus today. The stability and growth of our regional economy and
the lives of the people we serve depend on our commitment to delivering affordable, reliable,
resilient and sustainable energy.

Jeff
Lyash

“I grew up in the small coal-mining town of Shamokin, Pennsylvania, and I cannot think
of a better place than TVA to close out my career serving people just like those in my
hometown. While I’m looking forward to my next chapter, spending more time with family,
grandchildren, and friends, I will miss our TVA team and the relationships we’ve built across this
region. The true strength of TVA is its people – an experienced and passionate workforce who
work every day to make a difference.”

Appointed by the TVA Board of Directors in April 2019, Lyash has led the nation’s
largest public utility with a focus on building strong partnerships, including the region’s 153 Local
Power Companies, and managing sustained regional growth and the company’s largest ever
capital investment, which includes new power generation and enhancements to transmission
infrastructure.

“Jeff’s knowledge and experience make him one of the top leaders in the energy
industry,” said TVA Board Chair Joe Ritch. “Jeff has done more than lead one of the nation’s top
power providers, he has helped drive an industry forward. His vision has positioned TVA well for
the future, and he has built a legacy that will endure.”

TVA maintains some of the lowest energy costs and highest reliability in the nation.
TVA’s retail rates are lower than 80 percent of the rest of the nation, while its industrial rates are
lower than 95 percent of the top utilities.

Under Jeff’s leadership, TVA has worked with regional partners to deliver the next
generation of American jobs. In the past five years alone, TVA has helped create approximately
$45.9 billion in capital investment, creating or retaining more than 326,000 jobs.

With sustained regional growth at approximately three times the national average, TVA
is making significant investments in its power system – over $22 billion in the past decade,
including $4 billion in 2024 alone, and an additional $16 billion over the next several years
toward new generation and transmission. Today, TVA has more than 3,500 megawatts of new
generation under construction or online.

Those investments have helped TVA meet record-breaking demand for electricity,
including last week’s all time power demand record of 35,319 megawatts, which is the
equivalent of powering 20 million homes at once.

Under Jeff’s leadership, the TVA team:
• Developed the Long-term Partnership Proposal, a 20-year business agreement between
TVA and Local Power Company (LPC) partners. More than 95 percent of the region’s
153 LPCs signed on to this agreement, strengthening TVA’s bond with its customers.
“Everything we do, we do in partnership,” said Lyash. “And the Tennessee Valley Public
Power Model – a partnership between TVA and 153 outstanding LPCs – is a significant
competitive advantage for our region.”
• Throughout the COVID-19 pandemic, TVA’s financial strength and stability allowed it to
provide much needed support to customers, businesses, and communities during the
pandemic. In 2020, TVA made available $1 billion in customer relief credits and initiated
a $200 million rate reduction in 2021.
• In October 2023, TVA launched a $1.5 billion energy efficiency initiative to assist
customers and businesses in reducing their energy costs and using energy wisely.
These programs are expected to offset approximately 30 percent of future load growth
over the next decade.
• An advocate and champion for nuclear energy, Lyash has positioned TVA as national
leader in the development of advanced nuclear technologies. In 2019, TVA became the
nation’s first utility to successfully obtain approval for an early site permit from the U.S.
Nuclear Regulatory Commission to potentially construct and operate a small modular reactor (SMR) at its Clinch River site. TVA is leading an application – with 11 nuclear industry partners and the State of Tennessee – for an $800 million U.S. Department of Energy grant to accelerate construction of the nation’s first small modular reactor.

Lyash on T A’s leadership in nuclear: “Nuclear is the most reliable and efficient energy the
world has ever known, and TVA is uniquely positioned to help drive this forward. Advanced
nuclear technologies will play a critical role in our region and nation’s drive towards great energy
security.”

Media Release/Melissa Greene/TVA Media Relations

 

 

 

 

TVA President and CEO Jeff Lyash Announces Intent to Retire

Images available for download

KNOXVILLE, Tenn. — After an industry career spanning more than 40 years, Jeff Lyash, Tennessee Valley Authority President and Chief Executive Officer, has announced his plans to retire no later than the end of the fiscal year. Lyash has served as TVA’s CEO for nearly six years and will continue to lead TVA until the Board of Directors selects a successor.

“For the past six years, it’s been my privilege to serve with an experienced, talented team at TVA,” said Lyash. “TVA truly is a special place – created more than 90 years ago to improve the quality of life for more than 10 million people across this region. That mission of service continues to be our focus today. The stability and growth of our regional economy and the lives of the people we serve depend on our commitment to delivering affordable, reliable, resilient and sustainable energy.

“I grew up in the small coal-mining town of Shamokin, Pennsylvania, and I cannot think of a better place than TVA to close out my career serving people just like those in my hometown. While I’m looking forward to my next chapter, spending more time with family, grandchildren, and friends, I will miss our TVA team and the relationships we’ve built across this region. The true strength of TVA is its people – an experienced and passionate workforce who work every day to make a difference.”

Appointed by the TVA Board of Directors in April 2019, Lyash has led the nation’s largest public utility with a focus on building strong partnerships, including the region’s 153 Local Power Companies, and managing sustained regional growth and the company’s largest ever capital investment, which includes new power generation and enhancements to transmission infrastructure.

“Jeff’s knowledge and experience make him one of the top leaders in the energy industry,” said TVA Board Chair Joe Ritch. “Jeff has done more than lead one of the nation’s top power providers, he has helped drive an industry forward. His vision has positioned TVA well for the future, and he has built a legacy that will endure.”

TVA maintains some of the lowest energy costs and highest reliability in the nation. TVA’s retail rates are lower than 80 percent of the rest of the nation, while its industrial rates are lower than 95 percent of the top utilities.

Under Jeff’s leadership, TVA has worked with regional partners to deliver the next generation of American jobs. In the past five years alone, TVA has helped create approximately $45.9 billion in capital investment, creating or retaining more than 326,000 jobs.

With sustained regional growth at approximately three times the national average, TVA is making significant investments in its power system – over $22 billion in the past decade, including $4 billion in 2024 alone, and an additional $16 billion over the next several years toward new generation and transmission. Today, TVA has more than 3,500 megawatts of new generation under construction or online.

Those investments have helped TVA meet record-breaking demand for electricity, including last week’s all time power demand record of 35,319 megawatts, which is the equivalent of powering 20 million homes at once.

Under Jeff’s leadership, the TVA team:

Developed the Long-term Partnership Proposal, a 20-year business agreement between TVA and Local Power Company (LPC) partners. More than 95 percent of the region’s 153 LPCs signed on to this agreement, strengthening TVA’s bond with its customers. “Everything we do, we do in partnership,” said Lyash. “And the Tennessee Valley Public Power Model – a partnership between TVA and 153 outstanding LPCs – is a significant competitive advantage for our region.”
Throughout the COVID-19 pandemic, TVA’s financial strength and stability allowed it to provide much needed support to customers, businesses, and communities during the pandemic. In 2020, TVA made available $1 billion in customer relief credits and initiated a $200 million rate reduction in 2021.
In October 2023, TVA launched a $1.5 billion energy efficiency initiative to assist customers and businesses in reducing their energy costs and using energy wisely. These programs are expected to offset approximately 30 percent of future load growth over the next decade.
An advocate and champion for nuclear energy, Lyash has positioned TVA as national leader in the development of advanced nuclear technologies. In 2019, TVA became the nation’s first utility to successfully obtain approval for an early site permit from the U.S. Nuclear Regulatory Commission to potentially construct and operate a small modular reactor (SMR) at its Clinch River site. TVA is leading an application – with 11 nuclear industry partners and the State of Tennessee – for an $800 million U.S. Department of Energy grant to accelerate construction of the nation’s first small modular reactor.
Lyash on TVA’s leadership in nuclear: “Nuclear is the most reliable and efficient energy the world has ever known, and TVA is uniquely positioned to help drive this forward. Advanced nuclear technologies will play a critical role in our region and nation’s drive towards great energy security.”

 

 

 

 

TVA President and CEO Jeff Lyash Announces Intent to Retire

Images available for download

KNOXVILLE, Tenn. — After an industry career spanning more than 40 years, Jeff Lyash, Tennessee Valley Authority President and Chief Executive Officer, has announced his plans to retire no later than the end of the fiscal year. Lyash has served as TVA’s CEO for nearly six years and will continue to lead TVA until the Board of Directors selects a successor.

“For the past six years, it’s been my privilege to serve with an experienced, talented team at TVA,” said Lyash. “TVA truly is a special place – created more than 90 years ago to improve the quality of life for more than 10 million people across this region. That mission of service continues to be our focus today. The stability and growth of our regional economy and the lives of the people we serve depend on our commitment to delivering affordable, reliable, resilient and sustainable energy.

“I grew up in the small coal-mining town of Shamokin, Pennsylvania, and I cannot think of a better place than TVA to close out my career serving people just like those in my hometown. While I’m looking forward to my next chapter, spending more time with family, grandchildren, and friends, I will miss our TVA team and the relationships we’ve built across this region. The true strength of TVA is its people – an experienced and passionate workforce who work every day to make a difference.”

Appointed by the TVA Board of Directors in April 2019, Lyash has led the nation’s largest public utility with a focus on building strong partnerships, including the region’s 153 Local Power Companies, and managing sustained regional growth and the company’s largest ever capital investment, which includes new power generation and enhancements to transmission infrastructure.

“Jeff’s knowledge and experience make him one of the top leaders in the energy industry,” said TVA Board Chair Joe Ritch. “Jeff has done more than lead one of the nation’s top power providers, he has helped drive an industry forward. His vision has positioned TVA well for the future, and he has built a legacy that will endure.”

TVA maintains some of the lowest energy costs and highest reliability in the nation. TVA’s retail rates are lower than 80 percent of the rest of the nation, while its industrial rates are lower than 95 percent of the top utilities.

Under Jeff’s leadership, TVA has worked with regional partners to deliver the next generation of American jobs. In the past five years alone, TVA has helped create approximately $45.9 billion in capital investment, creating or retaining more than 326,000 jobs.

With sustained regional growth at approximately three times the national average, TVA is making significant investments in its power system – over $22 billion in the past decade, including $4 billion in 2024 alone, and an additional $16 billion over the next several years toward new generation and transmission. Today, TVA has more than 3,500 megawatts of new generation under construction or online.

Those investments have helped TVA meet record-breaking demand for electricity, including last week’s all time power demand record of 35,319 megawatts, which is the equivalent of powering 20 million homes at once.

Under Jeff’s leadership, the TVA team:

Developed the Long-term Partnership Proposal, a 20-year business agreement between TVA and Local Power Company (LPC) partners. More than 95 percent of the region’s 153 LPCs signed on to this agreement, strengthening TVA’s bond with its customers. “Everything we do, we do in partnership,” said Lyash. “And the Tennessee Valley Public Power Model – a partnership between TVA and 153 outstanding LPCs – is a significant competitive advantage for our region.”
Throughout the COVID-19 pandemic, TVA’s financial strength and stability allowed it to provide much needed support to customers, businesses, and communities during the pandemic. In 2020, TVA made available $1 billion in customer relief credits and initiated a $200 million rate reduction in 2021.
In October 2023, TVA launched a $1.5 billion energy efficiency initiative to assist customers and businesses in reducing their energy costs and using energy wisely. These programs are expected to offset approximately 30 percent of future load growth over the next decade.
An advocate and champion for nuclear energy, Lyash has positioned TVA as national leader in the development of advanced nuclear technologies. In 2019, TVA became the nation’s first utility to successfully obtain approval for an early site permit from the U.S. Nuclear Regulatory Commission to potentially construct and operate a small modular reactor (SMR) at its Clinch River site. TVA is leading an application – with 11 nuclear industry partners and the State of Tennessee – for an $800 million U.S. Department of Energy grant to accelerate construction of the nation’s first small modular reactor.
Lyash on TVA’s leadership in nuclear: “Nuclear is the most reliable and efficient energy the world has ever known, and TVA is uniquely positioned to help drive this forward. Advanced nuclear technologies will play a critical role in our region and nation’s drive towards great energy security.”

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