TVA Announces Operating Revenues

The Tennessee Valley Authority reported $6.6 billion in total operating revenues on nearly 82 billion kilowatt-hours of electricity sales for the six months ending March 31st, 2026. 

Total operating revenues increased 2% over the same period last year, primarily due to higher sales volume and higher fuel cost recovery rates. Sales of electricity increased approximately 1% compared to the same period last year, primarily driven by increases within the data processing, hosting, and related services sector.

Fuel and purchased power expense was $144 million higher in the first six months of fiscal year 2026 over the same period of the prior year, primarily due to higher purchased power market prices and higher effective fuel rates as a result of higher natural gas prices. 

Operating and maintenance expenses decreased by $118 million over the same period last year, driven primarily by tax credits and lower payroll and benefit costs.

Depreciation and amortization expense was $37 million lower than the same period last year, primarily due to the Browns Ferry Nuclear Plant license renewal.

Interest expense was $44 million higher than in the same period last year, primarily driven by higher average balances and rates on long-term debt.

TVA’s net income was $658 million for the six months ending on March 31st, 2026, $125 million higher than the same period of the prior year.