TVA Board Meeting - FY24 Financial plan and budget- Reso-Memo
Evolving Generation Needs
System position driving the need for additional capacity in the near term
Market drivers • Load growth driven by direct serve customer growth, economic development, and residential sector • Significant impacts to volume, price, and schedule for planned and forecasted solar and battery installations • Decrease in commodity prices through FY24, but increasing prices in FY25 and beyond • Limited availability of off-system transmission TVA response • Sign up to 8,000 MW of solar and battery purchased power agreements (PPAs) over the next three years • Invest in economical energy efficiency programs that reduce capacity expansion needs • Manage peak load growth and improve system capacity position by growing Demand Response (DR) up to 1,000 MW
• Execute short- and mid-term power supply contracts to shore up short-term capacity gaps • Implement hedging program to reduce price volatility and ensure fuel supply reliability to plants
TVA Restricted Information - Deliberative and Pre-Decisional Privileged
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