UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13, 15(d), or 37 of the Securities Exchange Act of 1934
Date of
Report (Date of earliest event reported): January 13, 2009
TENNESSEE
VALLEY AUTHORITY
(Exact
name of registrant as specified in its charter)
|
A
corporate agency of the United States created by an act of
Congress
(State
or other jurisdiction of incorporation or organization)
|
000-52313
(Commission
file number)
|
62-0474417
(IRS
Employer Identification No.)
|
||
|
400
W. Summit Hill Drive
Knoxville,
Tennessee
(Address
of principal executive offices)
|
37902
(Zip
Code)
|
(865) 632-2101
(Registrant’s
telephone number, including area code)
None
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
(1)
Item
8.01 Other Events.
On
January 13, 2009, the United States District Court for the Western District of
North Carolina issued its decision in the lawsuit brought by North Carolina
against TVA alleging that TVA’s operation of its eleven coal-fired power plants
in the states of Tennessee, Alabama, and Kentucky constitute public
nuisances. The court held that emissions from the Bull Run Fossil
Plant (“Bull Run”), the Kingston Fossil Plant (“Kingston”), the John Sevier
Fossil Plant (“John Sevier”), and the Widows Creek Fossil Plant (“Widows Creek”)
constitute a public nuisance. The first three plants are located in
Tennessee, and Widows Creek is located in Alabama. The court declined
to order any relief as to the remainder of TVA’s coal-fired plants, holding that
their emissions did not significantly impact North Carolina.
The court
ordered TVA to take certain actions related to Bull Run, Kingston, John Sevier
and Widows Creek. Specifically, the court ordered that:
|
•
|
The
flue gas desulfurization systems (“scrubbers”) and selective catalytic
reduction systems (“SCRs”) currently operating at Bull Run be properly
maintained and operated
year-round.
|
|
•
|
The
scrubbers under construction at Kingston be completed by December 31,
2010, and that Kingston’s scrubbers and SCRs be properly maintained and
operated year-round.
|
|
•
|
Scrubbers
and SCRs be installed and in operation for all four units at John Sevier
by December 31, 2011.
|
|
•
|
TVA
complete its plan to modernize the two existing scrubbers at Widows Creek,
and install scrubbers for the remaining six units by December 31, 2013;
TVA is further ordered to operate SCRs at all 8 units by December 31,
2013.
|
Additionally,
the court required units at the named plants to meet specified
emission rates and annual tonnage caps for nitrous oxide and sulfur dioxide
after the applicable operation dates for the scrubbers. Finally, the court
required TVA’s Chief Executive Officer to make semi-annual reports to the court
of TVA’s progress in complying with the order, beginning in July
2009.
TVA was
already in the process of performing or planning to perform some of the actions
ordered by the court. For example, the court’s instructions with
respect to Bull Run and Kingston are consistent with TVA’s current operating
procedures and construction schedule, and the modernization of the two Widows
Creek scrubbers is nearly complete. The court’s order will require
TVA to accelerate its schedule in some cases, such as by adding scrubbers and
SCRs at John Sevier by 2011, when the current schedule calls for doing so by
2015. TVA could also be required to take additional measures not
currently planned or scheduled in order to comply with the court’s
order. Advancing the construction schedule or taking additional
actions could increase TVA’s expenses or cause TVA to change the way it operates
these facilities.
TVA is
currently reviewing the decision and considering its options.
(2)
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
|
Date: January 20, 2009
|
Tennessee
Valley Authority
|
|
(Registrant)
|
|
| /s/ Kimberly S. Greene | |
|
Kimberly
S. Greene
|
|
|
Chief
Financial Officer and Executive
Vice
President, Financial Services
|
|
(3)