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Mild winter pushes Tennessee Valley Authority into the red

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Photo by Jenna Walker/Times Free Press. Photo by Jenna Walker/Times Free Press.

CHATTANOOGA (Times Free Press) -- Consumers are paying less to heat their homes this winter, but the mild winter is putting the heat on the nation's biggest government utility.

The Tennessee Valley Authority on Friday reported a $173 million loss for the final three months of 2011 and cut its sales forecast for the year by 2 percent because of warmer-than-usual temperatures this winter.

The coldest temperature reached in December 2011 was 26 degrees — the highest such temperature for any December in the Tennessee Valley in 50 years.

The typical residential customer used 14.8 percent less electricity at the end of 2011 than the previous year, helping cut TVA power sales in the fourth quarter by $260 million compared with the same quarter a year earlier.

Read more about this story from our news partners at the Chattanooga Times Free Press.

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