The Tennessee Valley Authority said it will cut its use of coal-fired electrical generation by about half of current levels, shuttering some units and converting others to burn natural gas to meet tighter emission-control regulations.
President Barack Obama is considering the sale of all or part of the Tennessee Valley Authority, the largest publicly owned U.S. power company, in a deal that may raise as much as $35 billion as the administration seeks to reduce the national debt.
Less than a week after another utility announced it will give up trying to restart a pair of nuclear reactors, the Tennessee Valley Authority said it will shelve a project in northeastern Alabama and eliminate 530 jobs.
U.S. nuclear output was little changed as the Tennessee Valley Authority shut its Sequoyah 1 unit in Tennessee after an electrical fire and Southern Co. started its Hatch 1 reactor in Georgia, the Nuclear Regulatory Commission reported.
It seems like an idea all Republicans would love: the U.S. sells the largest federally owned power company, paying down debt and ending a project begun at the height of the New Deal’s government expansion.