Blountville
38° F
Partly Cloudy
Partly Cloudy
Greeneville
38° F
Partly Cloudy
Partly Cloudy
Abingdon
43° F
Clear
Clear
Advertisement

TVA doesn't expect to increase borrowing

Published On: Sep 04 2013 04:24:48 PM CDT
Updated On: Sep 03 2013 04:25:43 PM CDT
KNOXVILLE, Tenn. -

The Tennessee Valley Authority believes it can reduce its debt over the next decade.

TVA won't ask congress to raise its borrowing cap for at least the next 10 years. That's because the demand for electricity is slowing.

Just a few years ago, agency officials worried the 30 billion dollar debt cap imposed by congress would be a problem.  TVA says its debt is expected to peak in 2015 just below the cap and then begin to decline.

TVA provides power to about nine million people in seven states, including Tennessee and Virginia.