Here are the 10-K annual reports from Tennessee Valley Authority Power Bonds 1998 Series D due June 1, 2028 (TVC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow TVC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full TVC filings page.
Tennessee Valley Authority (TVA) filed its annual report, highlighting operations of the nation’s largest public power system serving about 10 million people. In 2025, electricity sales generated $13.5 billion, which provided virtually all revenues.
Customer mix and contracts: Local power company customers (LPCs) accounted for approximately 90% of total operating revenues. TVA had wholesale power contracts with 153 LPCs; 148 had signed the long‑term Partnership Agreement that includes a 3.1% wholesale bill credit, and 109 had executed Power Supply Flexibility Agreements that permit LPCs to source up to roughly five percent of energy locally. TVA’s largest LPCs, MLGW and NES, represented 9% and 8% of total operating revenues, with five‑year and 20‑year termination notices, respectively.
Rates and cost recovery: The TVA Board sets rates using a debt‑service coverage methodology, with seasonal time‑of‑use base rates and a monthly fuel adjustment allocated across three customer classes.
Supply and projects: Commercial operations began on Johnsonville Aeroderivative CT Units 21–30 in 2025. TVA reports ongoing natural gas projects at its Cumberland and Kingston sites, an aeroderivative CT project at the Allen CT site, a new Caledonia simple‑cycle CT project, and evaluations for additional CT capacity at Cumberland and Lagoon Creek.