TVA president could earn more than $1M extra - WRCBtv.com | Chattanooga News, Weather & Sports

TVA president could earn more than $1M extra

Posted: Updated:
TVA President and CEO Bill Johnson. News Sentinel photo by Amy Smotherman Burgess. TVA President and CEO Bill Johnson. News Sentinel photo by Amy Smotherman Burgess.

CHATTANOOGA, TN (AP) - The Tennessee Valley Authority's president and CEO could earn more than $1 million extra this year.

A Chattanooga newspaper reported the agency's board voted unanimously on Thursday to raise Bill Johnson's salary and performance pay after the 60-year-old attorney met all of TVA's targets for 2014.

TVA nearly doubled its net income, cut its debt and got its nuclear plants off the regulatory watch list in the past year.

Johnson, currently the nation's highest paid federal employee, is leading an effort to cut $500 million in annual operating costs at TVA by 2015. The agency recently cut 2,000 jobs to help achieve that target.

TVA is the nation's largest public utility, serving 9 million people in parts of Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • NewsMore>>

  • Eclipse weather forecast: Best in West, least in East

    Eclipse weather forecast: Best in West, least in East

    Monday, August 21 2017 1:46 PM EDT2017-08-21 17:46:28 GMT
    If you want good eclipse watching weather, Oregon and Idaho look like the best spot.More
    If you want good eclipse watching weather, Oregon and Idaho look like the best spot.More
  • What the Tech? Eclipse Megamovie

    What the Tech? Eclipse Megamovie

    Monday, August 21 2017 1:12 PM EDT2017-08-21 17:12:20 GMT

    The solar eclipse will likely be the most photographed event in history as millions of people with smartphone cameras in hand won't be able to resist snapping a picture. What do you do with those photos? Google is teaming up with a university and scientists to make a movie of the eclipse using photos uploaded to its site.

    More

    The solar eclipse will likely be the most photographed event in history as millions of people with smartphone cameras in hand won't be able to resist snapping a picture. What do you do with those photos? Google is teaming up with a university and scientists to make a movie of the eclipse using photos uploaded to its site.

    More
  • Ole Miss to open drug, alcohol abuse center

    Ole Miss to open drug, alcohol abuse center

    Monday, August 21 2017 1:06 PM EDT2017-08-21 17:06:38 GMT
    William Magee (Source: University of Mississippi)William Magee (Source: University of Mississippi)

    A new program at the University of Mississippi hopes to reduce drug and alcohol abuse.

    More

    A new program at the University of Mississippi hopes to reduce drug and alcohol abuse.

    More
Powered by Frankly