The Tennessee Valley Authority (TVA) is a federally owned corporation in the United States created by congressional charter on May 18, 1933, to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development to the Tennessee Valley, a region particularly affected by the Great Depression. Senator George W. Norris (R-Nebraska) was a strong sponsor of this project. TVA was envisioned not only as a provider, but also as a regional economic development agency that would use federal experts and rural electrification to help modernize the rural region's economy and society.
TVA's service area covers most of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small slices of Georgia, North Carolina, and Virginia. It was the first large regional planning agency of the federal government and remains the largest. Under the leadership of David Lilienthal ("Mr. TVA"), the TVA became a model for the United States' later efforts to help modernize agrarian societies in the developing world.
The Tennessee Valley Authority was initially founded as an agency to provide general economic development to the region through power generation, flood control, navigation assistance, fertilizer manufacturing, and agricultural development. Since the Depression years, it has developed primarily into a power utility. Despite its shares being owned by the federal government, TVA operates exactly like a private corporation, and receives no taxpayer funding. The TVA Act authorizes the company to use eminent domain.
TVA provides electricity to approximately ten million people through a diverse portfolio that includes nuclear, coal-fired, natural gas-fired, hydroelectric, and renewable generation. TVA sells its power to 154 local power utilities, 5 direct industrial and institutional customers, and 12 area utilities. In addition to power generation, TVA provides flood control with its 29 hydroelectric dams. Resulting lakes and other areas also allow for recreational activities. The TVA also provides navigation and land management along rivers within its region of operation. TVA also assists governments and private companies on economic development projects.
TVA has a nine-member board of directors, each nominated by the United States President and confirmed by the United States Senate. The part-time members serve five-year terms and receive an annual stipend of $45,000 ($50,000 for the chairman). The board members choose the chief executive officer (CEO). TVA's headquarters are located in downtown Knoxville, with large administrative offices in Chattanooga (training/development; supplier relations; power generation and transmission) and Nashville (economic development) in Tennessee and Muscle Shoals, Alabama. More details
The Tennessee Valley Authority was initially founded as an agency to provide general economic development to the region through power generation, flood control, navigation assistance, fertilizer manufacturing, and agricultural development. Since the Depression years, it has developed primarily into a power utility. Despite its shares being owned by the federal government, TVA operates exactly like a private corporation, and receives no taxpayer funding. The TVA Act authorizes the company to use eminent domain.
TVA provides electricity to approximately ten million people through a diverse portfolio that includes nuclear, coal-fired, natural gas-fired, hydroelectric, and renewable generation. TVA sells its power to 154 local power utilities, 5 direct industrial and institutional customers, and 12 area utilities. In addition to power generation, TVA provides flood control with its 29 hydroelectric dams. Resulting lakes and other areas also allow for recreational activities. The TVA also provides navigation and land management along rivers within its region of operation. TVA also assists governments and private companies on economic development projects.
