Reduced Carbon Dioxide Emissions

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  1. TVA board votes to continue power system investments

    The Tennessee Valley Authority board of directors approved today a $10.7 billion budget for fiscal 2016 that requires continued productivity improvements to reduce operating and maintenance costs while funding $3 billion in capital investment in power plants and system improvements. “This budget reflects our continuing efforts to reduce our O&M spending while investing in our power system to modernize and diversify our generating fleet with cleaner and more efficient technology,” TVA President and CEO Bill Johnson said. “By focusing on the financial and operational objectives that guide our work, we can keep the lights glowing, the jobs growing and the river flowing here in the Valley.” The budget contains a 1.5 percent effective retail rate increase, slightly below the rate of inflation, amounting to about $1.50 more a month for the average Valley resident using 1,000 kilowatt-hours per month. Also, as a result of changes in the TVA rate structure developed in collaboration with TVA customers and their associations, other impacts are possible. The increase will take effect with the 2016 budget year that begins Oct. 1, 2015. “The small increase aligns with input from many of TVA’s local power companies and industrial customers that smaller and more predictable rate adjustments are preferable to larger, unexpected ones,” Johnson said. “We are taking the long view and then putting near-term plans in place to get us there.” The net effect of last year’s 1.5 percent increase was flat, on average, for Valley ratepayers due to TVA’s lower fuel costs and improved operating performance. “Lower O&M costs, lower fuel costs, and higher revenues have enabled us to fund some capital investments without adding to long-term debt,” Johnson said. “For the first nine months of the year, our total financing obligations are $907 million less than plan. We have improved operational performance, improved how we work with the people we serve and kept our rates competitive to assist Valley consumers and attract business and industry.” TVA met its goal for a sustainable $500 million reduction in operating and maintenance costs at the end of its third quarter. According to Johnson, TVA will continue to focus on performance improvement with additional reductions planned over the next several years. John Thomas, TVA’s chief financial officer, said TVA’s power system is one of the most diverse in the country. “Our diverse portfolio has helped us deliver superior financial performance in recent periods despite the extreme weather,” Thomas said. “We are making significant investments to balance our asset portfolio further in order to keep rates affordable and stable for our customers under a variety of conditions.” TVA recently completed the purchase of Ackerman Combined Cycle Plant in Mississippi and became the sixth combined cycle gas-fired facility TVA has built or purchased since 2007. Major capital projects for the coming year includes construction of Paradise and Allen gas plants, air quality controls on Shawnee and Gallatin Fossil Plants and upgrades to Browns Ferry Nuclear Plant. “With the completion of Watts Bar Nuclear Plant Unit 2 toward the end of the year, we will have low cost, cleaner energy for the people of the Valley,” Thomas said. “With our diverse portfolio, which includes our nuclear units, hydro, gas plants and controlled fossil plants, we are well positioned to provide the lowest rate feasible for our customers and achieve the goals in the Clean Power Plan.” TVA’s improvements in air quality across the power system have reduced carbon dioxide emissions about 30 percent from 2005 levels. By 2020, TVA expects to be nearly 40 percent below the 2005 levels. The board also approved the Integrated Resource Plan, which is a high-level road map for meeting the region’s energy needs in the coming years. The two-year effort to update the previous plan incorporated extensive input from the Regional Energy Resource Council, a stakeholder working group, and members of the public. It affirms the merits of a diverse portfolio with more natural gas and energy efficiency and renewable energy considerations. The IRP also concludes there is no immediate need for new baseload capacity beyond Watts Bar Nuclear Unit 2 and upgrades at the Browns Ferry Nuclear Plant. During the board meeting, Chair Joe Ritch presented the committee assignments for fiscal 2016. He also welcomed new board member, Eric Satz, who was sworn in on Aug. 13 in Nashville, Tennessee. In other board actions, the board approved: • The Strategic Pricing Plan -- developed in collaboration with TVA’s customers (local power companies, directly serviced industries, and the organizations that represent them) to better define the cost of serving customers and improve alignment of rate structures and products with system costs and benefits. • A statute of limitation of six years from date of discovery for TVA to recoup or repay monies from or to customers due to billing errors. • Continued the EY external auditor contract to serve for fiscal 2016. 

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    Fri, 21 Aug 2015

  2. Analysis: A global natural gas boom alone won't slow climate change

    Economics analyst H-Holger Rodgner posits that without a price on carbon emissions, gas could edge out nuclear and renewable energy—increasing overall emissions

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    Thu, 18 Dec 2014

  3. Obama rolls out rule to cut power plant pollution

    The U.S. government rolled out a plan Monday to cut carbon dioxide emissions from power plants by 30 percent by 2030, a centerpiece of President Barack Obama's efforts to reduce the pollution linked to global warming.

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    Mon, 2 Jun 2014

  4. 5 things to know about EPA's power plant rule

    Five things to know about the Obama administration's plans to reduce carbon dioxide emissions, the chief greenhouse gas, from power plants.

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    Tue, 3 Jun 2014

  1. New EPA rules to cut power plant carbon emissions by 30 percent

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    Mon, 2 Jun 2014

  2. EPA: Carbon emissions to decline 30% by 2030; states can create plans

    The U.S. Environmental Protection Agency (EPA) announced rules aimed at cutting carbon emissions from power plants by 30 percent by 2030.

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    Mon, 2 Jun 2014

  3. GE, Toshiba form joint venture for combined cycle projects

    Toshiba and GE have cooperated in gas turbine combined-cycle power generation systems since 1982

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    Thu, 24 Jan 2013

  4. EEI says EPA plan doesn’t allow utilities enough time

    "EPA’s approach would have a significant impact on electricity customers and the nation in terms of the cost and overall reliability of the electric system"

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    Mon, 1 Dec 2014

  5. Carbon reduction no longer a top priority for EU

    Connie Hedegaard, the European Union (EU) climate action commissioner has been reported as saying that achieving an agreement on reduced carbon dioxide emissions at this year’s United Nations' climate conference in Mexico is no longer a top priority for the EU.

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    Wed, 15 Sep 2010

  6. Noble sees giant East Mediterranean oil, gas potential

    Noble Energy Inc. said it has identified 12 more prospects with more than 20 tcf of gross unrisked resource potential in the eastern Mediterranean that target sands equivalent to those it discovered at Tamar off Israel.

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    Tue, 15 Nov 2011

  7. German beer pairs well with GE gas engine technology

    Based on a Jenbacher J312 gas engine, the plant converts biogas (gas produced by biological breakdown of organic matter) into electricity, steam and hot water to meet the brewery's process requirements

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    Fri, 17 Aug 2012

  8. GE, eSolar partner to deploy Integrated Solar Combined Cycle technology

    GE Energy has entered into an investment and licensing agreement with eSolar to deploy Integrated Solar Combined Cycle technology to customers worldwide.

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    Tue, 7 Jun 2011

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