TVA incurred a net loss of $167 million for the quarter that ended June 30, 2009, compared to a net income of $100 million for the same period in 2008, primarily because of expenses related to the Kingston ash spill and a significant decline in sales, according to TVA’s quarterly financial report filed with the Securities and Exchange Commission.
For the first nine months of the 2009 fiscal year, TVA reported a net loss of $339 million, compared to a net income of $243 million for the same period in 2008, also primarily because of Kingston recovery expenses and lower power sales.
Power sales during the three months that ended June 30 were down 8.4 percent, compared to the same three-month period in 2008, as power demand, particularly from commercial and industrial customers, continued to decline as a result of the economic downturn.
Total power sales during the nine months that ended June 30, 2009, decreased by about 7 percent, compared to the same period in 2008.
TVA serves a portion of Chattooga County through the North Georgia Electric Membership Corporation.