The Tennessee Valley Authority is reporting strong financial results for the first half of fiscal year 2026, alongside major investments to meet growing energy demand.
TVA brought in $6.6 billion in operating revenue on nearly 82 billion kilowatt-hours of electricity sales through March 31—up about 2% from last year, with electricity sales rising roughly 1%, driven in part by growth in data processing and hosting services.
Net income reached $658 million, up $125 million year-over-year.
Expenses were mixed. Fuel and purchased power costs increased due to higher natural gas prices, while operating and maintenance costs dropped by $118 million. Interest expenses rose, but depreciation costs declined.
TVA says it is in the midst of one of the largest capital investment programs in its history, including 3,770 megawatts of new generation under construction, nuclear license extensions at all three sites, and continued upgrades to ensure long-term reliability.
Executive Vice President and Chief Financial Officer Tom Rice said this includes a diversified profile.
The utility is also positioning the Tennessee Valley as a national hub for advanced nuclear energy, exploring new nuclear generation and partnerships to strengthen U.S. energy leadership.
TVA officials say the combination of strong financial performance and a diverse energy mix—including nuclear, natural gas, hydroelectric, coal, and renewables—has allowed the utility to maintain reliability while keeping rates among the lowest in the nation.
The federally owned utility serves more than 10 million people across seven states and receives no taxpayer funding, relying primarily on electricity sales for revenue.
