|10:17 AM EDT||
John Boozman, R-AR 3rd
Mr. BOOZMAN. Mr. Speaker, I yield myself as much time as I may consume.
The Tennessee Valley Authority, an independent government corporation, was established in 1933 to aid in the development of the Tennessee River Valley watershed through the proper use, conservation and development of the region's natural resources. TVA is the Nation's largest wholesale power producer and the fifth largest electric utility. TVA supplies power to nearly 8 million people over an 80,000-square-mile service area covering Tennessee and parts of Mississippi, Alabama, Georgia, North
Carolina, Virginia and Kentucky.
In addition, TVA's nonpower program responsibilities include the multipurpose management of land and water resources throughout the Tennessee Valley and fostering economic development. Prior to 1959, construction of the power projects was financed mainly by congressional appropriations. The power program is now completely self-financed through power revenues.
During the TVA's first 20 years, most of the power generated was hydroelectric. By 1950, with increased power needs, TVA began building coal-fired electric plants, and those plants now account for about 75 percent of TVA's power generation. TVA provides more electricity than any other public utility in the Nation and has an unparalleled record of reliability.
In addition, TVA is broadening its environmental stewardship responsibilities by increasing its use of renewable resources, improving energy efficiency, and working to improve air quality for the millions who live in the Tennessee Valley watershed. TVA constructed nuclear plants to supply additional power needs and just recently returned an additional nuclear power unit in Alabama, Browns Ferry Unit 1, to service to meet expected future demand in energy.
The agency spent approximately $2 billion to recover the facility, which became fully operational by May 2007. The Nuclear Regulatory Commission has approved a 20-year license renewal for all three units at the Browns Ferry Nuclear Plant. [Page: H10138]
For 75 years, the TVA programs of navigation, flood damage reduction and power reduction have fostered economic development in an important region in the Nation.
I urge all of my Members to support the resolution celebrating the Tennessee Valley Authority's 75th anniversary.
Mr. Speaker, I reserve the balance of my time.