By The Associated Press
KNOXVILLE, Tenn. — The Tennessee Valley Authority says demand for electricity rose about 6 percent in the past year.
In its annual report filed Friday with the Securities and Exchange Commission, the federal utility attributed the increase to extreme summer and winter temperatures and a slowly improving economy.
TVA said its revenues decreased 3.4 percent during the fiscal year, which ended Sept. 30, to $10.9 billion, from the previous year. The $381 million drop resulted mainly from lower prices.
The agency said its operating expenses were down about 7 percent to $8.6 billion, attributed in part to a 32 percent decrease in purchased power costs.
TVA provides electricity in most of Tennessee and parts of Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.