Welcome to our dedicated page for Tennessee Valley Authority SEC filings (Ticker: TVE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Tennessee Valley Authority filings document a federally created corporate agency that issues public securities, sells electricity and reports under the Exchange Act. Its formal disclosures include quarterly reports with unaudited financial statements, operating results, electricity sales, fuel cost recovery, debt and capital-structure information related to TVA’s power system.
Recent material-event filings focus on governance and executive-compensation matters, including board membership, board committee assignments, officer transitions and Long-Term Incentive Plan performance measures. For this bond-linked security, the filing record also frames TVA’s reporting obligations, risk oversight and governance disclosures relevant to outstanding power bonds.
Tennessee Valley Authority (TVA) entered a long-term lease-purchase financing for its Cumberland Combined Cycle Generation Facility with Cumberland Combined Cycle Generation LLC (CCCGL). CCCGL raised $2,000,000,000, including $200,000,000 of equity and $1,800,000,000 of secured notes, and will pay or cause to be paid $1,931,875,011 to TVA under the Head Lease and Construction Management Agreement, with the balance deposited with a lease indenture trustee.
TVA will lease the Facility back for 30 years, making semiannual rent payments from November 2026 through May 2056, with debt and equity portions such as $62,416,544 and $7,310,866 on early dates. TVA plans to use its aggregate proceeds for its power program and transaction expenses. The TVA Board also approved amended compensation, annual incentive, and long-term incentive plans that reduce maximum payout and scorecard achievement levels beginning with future performance cycles.
Tennessee Valley Authority (TVA) entered a long-term lease-purchase financing for its Cumberland Combined Cycle Generation Facility with Cumberland Combined Cycle Generation LLC (CCCGL). CCCGL raised $2,000,000,000, including $200,000,000 of equity and $1,800,000,000 of secured notes, and will pay or cause to be paid $1,931,875,011 to TVA under the Head Lease and Construction Management Agreement, with the balance deposited with a lease indenture trustee.
TVA will lease the Facility back for 30 years, making semiannual rent payments from November 2026 through May 2056, with debt and equity portions such as $62,416,544 and $7,310,866 on early dates. TVA plans to use its aggregate proceeds for its power program and transaction expenses. The TVA Board also approved amended compensation, annual incentive, and long-term incentive plans that reduce maximum payout and scorecard achievement levels beginning with future performance cycles.
The Tennessee Valley Authority appointed Michael D. Skaggs as Interim President and Chief Executive Officer, with his term running from April 24, 2026 to April 24, 2027. He succeeds Donald A. Moul, who previously announced plans to retire on July 1, 2026.
Skaggs, age 65, is a longtime TVA veteran who served from 1994 until his retirement in January 2022, including roles as Executive Vice President and Chief Operating Officer and multiple senior nuclear operations positions. He will receive an annual salary of $500,000 and may earn additional lump-sum compensation at the end of his term if performance criteria set by the TVA Board are met.
The TVA Board may remove Skaggs only for Gross Misconduct under his offer letter; removal for other reasons could trigger accelerated payment of remaining salary and any additional compensation. The filing notes there are no family relationships or related-party transactions involving Skaggs beyond his employment terms.
The Tennessee Valley Authority appointed Michael D. Skaggs as Interim President and Chief Executive Officer, with his term running from April 24, 2026 to April 24, 2027. He succeeds Donald A. Moul, who previously announced plans to retire on July 1, 2026.
Skaggs, age 65, is a longtime TVA veteran who served from 1994 until his retirement in January 2022, including roles as Executive Vice President and Chief Operating Officer and multiple senior nuclear operations positions. He will receive an annual salary of $500,000 and may earn additional lump-sum compensation at the end of his term if performance criteria set by the TVA Board are met.
The TVA Board may remove Skaggs only for Gross Misconduct under his offer letter; removal for other reasons could trigger accelerated payment of remaining salary and any additional compensation. The filing notes there are no family relationships or related-party transactions involving Skaggs beyond his employment terms.
The Tennessee Valley Authority reported leadership changes affecting its board and senior management. On February 24, 2026, William J. Renick resigned from the TVA Board of Directors. The notice states his departure as a director without providing further detail on the circumstances.
The filing also states that, effective March 2, 2026, Jeremy P. Fisher will no longer be performing the duties of Executive Vice President and Chief Business Officer and will be departing TVA. This represents a change in a key executive role responsible for business operations.
The Tennessee Valley Authority reported leadership changes affecting its board and senior management. On February 24, 2026, William J. Renick resigned from the TVA Board of Directors. The notice states his departure as a director without providing further detail on the circumstances.
The filing also states that, effective March 2, 2026, Jeremy P. Fisher will no longer be performing the duties of Executive Vice President and Chief Business Officer and will be departing TVA. This represents a change in a key executive role responsible for business operations.
Tennessee Valley Authority is changing how it evaluates long-term executive incentives. The Board approved replacing the Carbon-Free Performance Indicator in its Long-Term Incentive Plan with a new Project Milestones measure for the FY 2024–2026, FY 2025–2027, and FY 2026–2028 performance cycles.
The Project Milestones measure carries a 20% weight in the LTIP, with payouts tied to milestone completion at threshold, target, and stretch levels of 80%, 90%, and 100%. It focuses on large, Board-approved projects over $200 million or those critical to TVA’s mission, tracking the share of project milestones completed on or ahead of schedule. Milestone lists can be adjusted with oversight by the Chair of the People and Governance Committee, and all other LTIP measures and goals remain unchanged.
Tennessee Valley Authority is changing how it evaluates long-term executive incentives. The Board approved replacing the Carbon-Free Performance Indicator in its Long-Term Incentive Plan with a new Project Milestones measure for the FY 2024–2026, FY 2025–2027, and FY 2026–2028 performance cycles.
The Project Milestones measure carries a 20% weight in the LTIP, with payouts tied to milestone completion at threshold, target, and stretch levels of 80%, 90%, and 100%. It focuses on large, Board-approved projects over $200 million or those critical to TVA’s mission, tracking the share of project milestones completed on or ahead of schedule. Milestone lists can be adjusted with oversight by the Chair of the People and Governance Committee, and all other LTIP measures and goals remain unchanged.
Tennessee Valley Authority filed an amended report to update board governance details. The filing explains that after the United States Senate confirmed four new members to the TVA Board of Directors on December 18, 2025, the Board met on January 16, 2026 and approved new committee assignments. Mitch Graves was named chair of the Audit, Risk, and Cybersecurity Committee, while A. Wade White chairs the Finance, Rates, and Portfolio Committee. Other committees include External Stakeholders and Regulation, Operations and Nuclear Oversight, and People and Governance, each listing specific directors as members and chairs. This amendment focuses solely on how TVA’s directors are organized across these oversight committees.
Tennessee Valley Authority filed an amended report to update board governance details. The filing explains that after the United States Senate confirmed four new members to the TVA Board of Directors on December 18, 2025, the Board met on January 16, 2026 and approved new committee assignments. Mitch Graves was named chair of the Audit, Risk, and Cybersecurity Committee, while A. Wade White chairs the Finance, Rates, and Portfolio Committee. Other committees include External Stakeholders and Regulation, Operations and Nuclear Oversight, and People and Governance, each listing specific directors as members and chairs. This amendment focuses solely on how TVA’s directors are organized across these oversight committees.
Tennessee Valley Authority reported a senior leadership change. Effective January 15, 2026, Rebecca C. Tolene is no longer performing the duties of Executive Vice President and General Counsel and will be departing TVA. The notice focuses solely on this transition in the executive leadership team and does not provide additional context on succession plans or other operational changes.
Tennessee Valley Authority reported a senior leadership change. Effective January 15, 2026, Rebecca C. Tolene is no longer performing the duties of Executive Vice President and General Counsel and will be departing TVA. The notice focuses solely on this transition in the executive leadership team and does not provide additional context on succession plans or other operational changes.
Tennessee Valley Authority reported that the United States Senate has confirmed four nominees — Mitch Graves, Jeff Hagood, Randall Jones, and Arthur Graham — to serve on its Board of Directors. They will join the Board after Presidential commissioning, completion of administrative steps, and being sworn in. The new directors have not yet been assigned to any Board committees and, based on this report, are not involved in any material transactions or arrangements with TVA other than their Board service. As directors, they will receive the standard benefits and arrangements for Board members, as previously described in TVA’s annual report for the year ended September 30, 2025.
Tennessee Valley Authority reported that the United States Senate has confirmed four nominees — Mitch Graves, Jeff Hagood, Randall Jones, and Arthur Graham — to serve on its Board of Directors. They will join the Board after Presidential commissioning, completion of administrative steps, and being sworn in. The new directors have not yet been assigned to any Board committees and, based on this report, are not involved in any material transactions or arrangements with TVA other than their Board service. As directors, they will receive the standard benefits and arrangements for Board members, as previously described in TVA’s annual report for the year ended September 30, 2025.
Tennessee Valley Authority filed a current report to announce that it has released an updated offering circular for its electronotes® program. The offering circular, dated December 9, 2025, is provided as Exhibit 99.1 to the report. This type of document typically describes the terms and structure of TVA’s electronotes® debt offerings to investors, and the filing formally makes that circular publicly available.
Tennessee Valley Authority filed a current report to announce that it has released an updated offering circular for its electronotes® program. The offering circular, dated December 9, 2025, is provided as Exhibit 99.1 to the report. This type of document typically describes the terms and structure of TVA’s electronotes® debt offerings to investors, and the filing formally makes that circular publicly available.
Tennessee Valley Authority entered into a Third Amended and Restated September Maturity Credit Agreement providing access to up to $1,000,000,000 in loans or letters of credit. The facility, arranged with Royal Bank of Canada as administrative agent and several other major banks as lenders, runs until September 10, 2030, unless extended under the agreement’s terms. Borrowings carry a variable interest rate that depends on market conditions and the rating of TVA’s senior unsecured long-term non-credit enhanced debt. TVA will also pay an unused facility fee on any undrawn portion of the $1,000,000,000 and fees on any letters of credit, with both fee levels tied to TVA’s debt rating.
Transaction summary: The Tennessee Valley Authority (TVA) entered an agreement on August 5, 2025, to issue $1,250,000,000 of 3.875% Global Power Bonds 2025 Series C due August 1, 2030. The bonds pay interest semi-annually on August 1 and February 1 beginning February 1, 2026, are not subject to redemption prior to maturity, and settle on August 8, 2025.
Proceeds and disclosure: After reflecting the transaction's discount and deducting managers' fees, net proceeds to TVA are $1,240,850,000, exclusive of out-of-pocket offering expenses. TVA released a final offering circular on August 6, 2025, filed as Exhibit 99.1.