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): August 20, 2008
TENNESSEE
VALLEY AUTHORITY
(Exact
name of registrant as specified in its charter)
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A
corporate agency of the United States created by an act of
Congress
(State
or other jurisdiction of incorporation or organization)
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000-52313
(Commission
file number)
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62-0474417
(IRS
Employer Identification No.)
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||
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400
W. Summit Hill Drive
Knoxville,
Tennessee
(Address
of principal executive offices)
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37902
(Zip
Code)
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(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))
Item 7.01 Regulation
FD Disclosure
On August 20, 2008, Kimberly S. Greene,
TVA’s Chief Financial Officer and Executive Vice President, Financial Services,
gave a presentation regarding TVA’s fiscal year 2009 budget at a public meeting
of the TVA Board of Directors. A copy of the materials used by Ms.
Greene during her presentation is furnished as Exhibit 99.1.
The furnished materials contain
forward-looking statements relating to future events and future
performance. All statements other than those that are purely
historical may be forward-looking statements. In certain cases,
forward-looking statements can be identified by the use of words such as “may,”
“will,” “should,” “expect,” “anticipate,” “believe,” “intend,” “project,”
“plan,” “predict,” “assume,” “forecast,” “estimate,” “objective,” “possible,”
“probably,” “likely,” “potential,” or other similar expressions.
Although TVA believes that the
assumptions underlying the forward-looking statements are reasonable, TVA does
not guarantee the accuracy of these statements. Numerous factors
could cause actual results to differ materially from those in the
forward-looking statements. These factors include, among other
things:
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•
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New
laws, regulations, and administrative orders, especially those related
to:
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TVA’s
protected service area,
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–
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The
sole authority of the TVA Board of Directors to set power
rates,
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–
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Various
environmental and nuclear matters, including laws, regulations, and
administrative orders restricting carbon emissions and preferring certain
fuels over others,
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TVA’s
management of the Tennessee River
system,
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TVA’s
credit rating, and
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TVA’s
debt ceiling;
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•
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Loss
of customers;
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•
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Performance
of TVA’s generation and transmission
assets;
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•
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Availability
of fuel supplies;
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•
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Purchased
power price volatility;
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•
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Events
at facilities not owned by TVA that affect the supply of water to TVA’s
generation facilities;
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•
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Compliance
with existing environmental laws and
regulations;
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•
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Significant
delays or cost overruns in construction of generation and transmission
assets;
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Significant
changes in demand for electricity;
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Legal
and administrative proceedings, including awards of damages and amounts
paid in settlements;
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Weather
conditions, including drought;
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Failure
of transmission facilities;
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Events
at any nuclear facility, even one that is not operated by or licensed to
TVA;
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Catastrophic
events such as fires, earthquakes, floods, tornadoes, pandemics, wars,
terrorist activities, and other similar events, especially if these events
occur in or near TVA’s service
area;
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•
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Reliability
of purchased power providers, fuel suppliers, and other
counterparties;
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Changes
in the market price of commodities such as coal, uranium, natural gas,
fuel oil, electricity, and emission
allowances;
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Changes
in the prices of equity securities, debt securities, and other
investments;
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Changes
in interest rates;
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Creditworthiness
of TVA, its counterparties, or its
customers;
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Rising
pension costs and health care
expenses;
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Increases
in TVA’s financial liability for decommissioning its nuclear facilities
and retiring other assets;
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Limitations
on TVA’s ability to borrow money;
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Changes
in the economy;
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Ineffectiveness
of TVA’s disclosure controls and procedures and its internal control over
financial reporting;
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Changes
in accounting standards;
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The
loss of TVA’s ability to use regulatory
accounting;
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Problems
attracting and retaining skilled
workers;
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Changes
in technology;
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Changes
in TVA’s plans for allocating its financial resources among
projects;
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Differences
between estimates of revenues and expenses and actual revenues and
expenses incurred;
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Changes
in the market for TVA securities;
and
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Unforeseeable
events.
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Additionally, other risks that may
cause actual results to differ from the predicted results are set forth in TVA’s
Annual Report on Form 10-K, as amended, for the fiscal year ended September 30,
2007, and in other filings that TVA makes from time to time with the Securities
and Exchange Commission. New factors emerge from time to time, and it
is not possible for management to predict all such factors or to assess the
extent to which any factor or combination of factors may impact TVA’s business
or cause results to differ materially from those contained in any
forward-looking statement.
TVA undertakes no obligation to update
any forward-looking statement to reflect developments that occur after the
statement is made.
Item
9.01 Financial Statements and Exhibits
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EXHIBIT
NO.
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DESCRIPTION
OF EXHIBIT
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99.1
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Materials
used in Ms. Greene’s August 20, 2008 budget
presentation
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SIGNATURE
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.
| Tennessee Valley Authority | |
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(Registrant)
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Date:
August 21, 2008
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/s/ Kimberly S. Greene |
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Kimberly
S. Greene
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Chief
Financial Officer and Executive Vice President,
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Financial
Services
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EXHIBIT
INDEX
This exhibit is furnished pursuant to
Item 7.01 hereof and should not be deemed to be filed under the Exchange
Act.
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EXHIBIT
NO.
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DESCRIPTION
OF EXHIBIT
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99.1
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Materials
used in Ms. Greene’s August 20, 2008 budget
presentation
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