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TVC > SEC Filings for TVC > Form 8-K on 12-Apr-2013All Recent SEC Filings

Show all filings for TENNESSEE VALLEY AUTHORITY | Request a Trial to NEW EDGAR Online Pro

Form 8-K for TENNESSEE VALLEY AUTHORITY


12-Apr-2013

Other Events


Item 8.01 Other Events.

On April 10, 2013, President Obama submitted the Fiscal Year 2014 Budget of the U.S. Government (the "Budget") to Congress. The Budget contains the following language regarding the Tennessee Valley Authority ("TVA"):

In order to meet its future capacity needs, fulfill its environmental responsibilities,
and modernize its aging generation system, TVA's current capital investment plan includes more than $25 billion of expenditures over the next 10 years. However, TVA's anticipated capital needs are likely to quickly exceed the agency's $30 billion statutory cap on indebtedness. Reducing or eliminating the Federal Government's role in programs such as TVA, which have achieved their original objectives and no longer require Federal participation, can help put the Nation on a sustainable fiscal path. Given TVA's debt constraints and the impact to the Federal deficit of its increasing capital expenditures, the Administration intends to undertake a strategic review of options for addressing TVA's financial situation, including the possible divestiture of TVA, in part or as a whole.


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