United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Accounting and Information Management Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1995-08-17 monographic deposited born digital 163 p. GA 1.13:AIMD/RCED-95-134 https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-RCED-95-134 P0b002ee1803962ac f:ai95134 DGPO 2010-08-12 2011-03-23 GAOREPORTS-AIMD-RCED-95-134 machine generated eng fdlp REPORT GAOREPORTS-AIMD-RCED-95-134 AIMD/RCED-95-134 Electric utilities Utility rates Electric power generation Federal corporations Energy costs Energy law Financial management Internal controls Competition Chapter Report AIMD RCED The Tennessee Valley Authority (TVA) is $26 billion in debt and has invested $14 billion in nonproducing nuclear assets that are not included in its electricity rates. As a result, TVA has far more financing costs and deferred assets than its likely competitors have, which gives TVA little flexibility to meet competitive challenges. To the extent that TVA cannot compete effectively and improve its financial condition, the federal government may have to pick up the tab for some of TVA's debt. TVA's troubled financial condition has been caused largely by construction delays, cost overruns, and operational shutdowns in its nuclear program. TVA's links to the federal government and its high debt limit have allowed it to borrow the billions of dollars needed for its nuclear construction program. Although no cash crisis exists today, GAO believes that TVA's financial condition threatens its long-term viability and places the federal government at risk. GAO highlights several options that could reduce risk to federal taxpayers and help prepare TVA to compete in the electricity market. https://www.govinfo.gov/content/pkg/GAOREPORTS-AIMD-RCED-95-134/html/GAOREPORTS-AIMD-RCED-95-134.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-AIMD-RCED-95-134/pdf/GAOREPORTS-AIMD-RCED-95-134.pdf GAO/AIMD/RCED-95-134 https://www.govinfo.gov/app/details/GAOREPORTS-AIMD-RCED-95-134 Chapter Report GAO/AIMD/RCED-95-134; Tennessee Valley Authority: Financial Problems Raise Questions About Long-Term Viability; Electric utilities Utility rates Electric power generation Federal corporations Energy costs Energy law Financial management Internal controls Competition