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Thread: TVA reports $167M loss vs. Generation Activity

  1. #1
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    Exclamation TVA reports $167M loss vs. Generation Activity

    Do you all find it odd that we were given a rate decrease a few months ago and it seemed like TVA was just the most wonderful company in the World. It looks like they are trying to make up for the third quarter's loss in one week's time; looking at the generation schedule for most of their dams...

    Anyway, I love TVA and for the resources it has given me and our community. But, I have read about every TVA Book I can get my hands on and I still cannot see how TVA has ever discerned a profit - NET that is...

    I have numerous friends that are high-up in TVA and some that were on the board a times and we have always discussed this topic. You would be awestruck too if you knew what TVA Employees and contractors make on their projects.

    It is basically like working 4-6 months a year and making enough money to live a complete year and do what you want. I talking numbers like $80 per hour...

    Oh well, just ranting! I think it is not TVA Policy, but the organization behavior that is corrupt...

    -------


    CITE:The Associated Press Updated: 8/1/2009 7:26:41 AM


    TVA reports $167M loss for 3rd quarter





    The Tennessee Valley Authority has reported a $167 million loss for the third quarter blamed on slumping electric sales and rising costs to clean up a massive coal ash spill in Tennessee.


    The nation's largest public utlity reported the loss Friday on $2.5 billion in revenue, compared to a $100 million gain for the same period a year ago.
    Power sales were down 8.4 percent, mostly from large industrial customers.


    TVA says it has raised its recognized expenses for the cleanup of the Kingston Fossil Plant coal ash spill last December to $933 million, and has actually spent $143 million so far.


    TVA Chief Financial Officer Kim Greene says an electric rate hike is likely.
    “Every human has four endowments- self awareness, conscience, independent will, & creative imagination.
    These give us the ultimate human freedom... The
    power
    to choose, to respond, to change.”



  2. #2
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    Default

    Quote Originally Posted by MadisonBoats View Post
    It is basically like working 4-6 months a year and making enough money to live a complete year and do what you want. I talking numbers like $80 per hour...
    Shawn,

    Are we talking billing rates or actual pay rates? My company has worked a lot with TVA, and they have roughly the same engineering charge rates that we do. For that matter most of the engineering firms I have dealt with have fairly similar billing rates. However, the actual pay rate that the employee receives is probably 1/3 of the billing rate. So if we have a $90/hr charge rate, the employee is actually making around $30/hr. At least that is what I have seen in my experience.

    Right now, I am seeing charge rates for the 5 major engineering disciplines (civil, mechanical, electrical, chemical, and nuclear) at various A&E firms in the range of $80 - $120/hr.

  3. #3
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    Default

    So what's wrong with someone working part time, screwing up as in not watching out for fly ash ponds, or damming up every drop of water in this area for "flood control" and making a million a year?

    http://www.tennesseeanytime.org/energy/node/1615
    I am a great admirer of spectator sports, especially on television; it keeps the riffraff off the trout streams.

  4. #4
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    Seems like the head of TVA makes over 12 million a year. A lot of money for running a monopoly. It's not like they have to compete with anyone. At least I'm not aware that I can buy electricity from anyone else. Also, from the end of May until fall for the last couple of years. They constantly let water go over the spillways to improve the water downstream. I've always wondered why they don't run the generators instead to generate some power.

  5. #5
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    Quote Originally Posted by silvercreek View Post
    Also, from the end of May until fall for the last couple of years. They constantly let water go over the spillways to improve the water downstream. I've always wondered why they don't run the generators instead to generate some power.
    That must be a mid TN thing.

    We have been in a drought here in the east, and this is the first year in 3 years that the water levels have even been up to the spill gates. We only spilled on Norris for what, 10 days. They have been pushing much more water in the eastern part of the state this year than the past 2. By this time last year I had Fished the tailwaters 14 Fridays, this year 0. If it weren't for the recreation schedule on Sat and Sun, I wouldn't have gotten out nearly as much this year.

    However, I do believe that the TVA execs salary mentioned in Flat's article is a bigger issue. Do they really deserve to continue getting these large pay raises and bonuses in light of all the recent developments?

  6. #6
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    Cool Tva

    I work for a Middle Tennessee electric utility....TVA wants to tell us what to do and how and when to do it,it seems like......
    And just like last year in October when they raised the rates just in time for the high winter bills....it will happen again in Oct.'09....or so I've heard,just on the news,I haven't heard a percent figure yet.
    I and others get yelled at,cussed at and blamed for what TVA does with it's rates.......and just try to get them to answer a complaint call.
    Someday soon,I hope,I will retire and not deal with the public cussing at me for electric bills they receive....after 32 years,it's gotten way past being old.

  7. #7
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    Unhappy

    Quote Originally Posted by ChemEAngler View Post
    Shawn,
    Right now, I am seeing charge rates for the 5 major engineering disciplines (civil, mechanical, electrical, chemical, and nuclear) at various A&E firms in the range of $80 - $120/hr.
    Travis,
    Thanks for adding some additional information to my post. However, I am speaking of bottom line pay rates and not contract rates with contractors. Also, there are some Union stipulations that control the rates too in some aspects of my point.

    But, most of all the employees that work for TVA or at least the ones in the 'Tower', other one rented out because it was losing so much money... make an astronautical amount of money and there bonus incentives per year are ridiculous and are more relevant towards the employees performance than the company's performance. I would say an average bonus payout of $7-10k per year for salaried workers.

    Keep in mind; most of my information comes from the 'man himself' on the inside. And, my ex-wife pretty much laid it all out there for me back in the day...It really disappointed me! Also, the breakdown of employee hiring was completely government controlled. There had to be a certain number of (blank) race + sex(s). The issue here is that there could be a stack of candidates better qualified for a position; but, they would not be chose due to the need for balancing the quota. Another aspect is that 'Joe' could have a 3.9 GPA in Accounting from a great university; but, 'Susan' knows so-and-so and she has a 2.0 GPA in psychology from the same university and she gets hired. If you could ever get a hold of the transcripts of the current employees; you would know this to be true! I know it from a past HR Rep...

    I do wish someone could actually show me a fiscal breakdown of how TVA has EVER made a profit. Now, you have to take in consideration of the Government's infusion of funds too...
    “Every human has four endowments- self awareness, conscience, independent will, & creative imagination.
    These give us the ultimate human freedom... The
    power
    to choose, to respond, to change.”



  8. #8
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    Hey, here's a thought.....why don't WE THE PEOPLE get someone to sponsor a bill that makes the BOD of TVA pay for the Watts Bar cleanup?
    I am a great admirer of spectator sports, especially on television; it keeps the riffraff off the trout streams.

  9. #9
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    Townsend, Tennessee
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    Seeing this thread made me think about something I read in the Wall Street Journal this afternoon. I'm "cornfused"! I was expecting our power costs to fall. Our electric bills at the shop are running $650+ per month. You have to subscribe to read the whole story but you will get the point. Click on the link below.

    Byron

    http://online.wsj.com/article/SB125003563550224269.html
    Last edited by Byron Begley; 08-12-2009 at 07:50 PM. Reason: "cornfused" so you wouldn't think I could not spell

  10. #10
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    Hard to believe. They keep Nashville lit up like a Christmas tree. Coming back through Knoxville in mid day a couple of months ago all the big street lights at an interchange were going full bore. At Briley Parkway and Lebanon Rd same thing. Big old lights going full bore in the middle of the day. Then I get to watch the tv commericals about how my turning off one 60 watt bulb is going to save the world. Something's wrong with this picture.

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