Record cold this winter means the Tennessee Valley Authority sold more electricity to local power companies in the past six months. But the news comes as the federally owned utility is looking to make big cuts to its workforce.
TVA CEO Bill Johnson says providers like Nashville Electric Service and Middle Tennessee Electric bought 8 percent more power.
“This was largely due to extremely cold weather, particularly in the second quarter, but it also reflects a small and encouraging sign of underlying improvement in the economy.”
Overall, TVA’s power sales are on a downward trend. The utility is looking to cut $500 million in expenses. 750 workers have already taken buyouts or early retirement; another thousand vacant jobs will remain unfilled. Johnson says involuntarily layoffs could come later this year.