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Mon November 22, 2004
TVA Sees Changes in Board
By Alabama Public Radio
Washington, D.C. – Congress has approved major changes in the management of the Tennessee Valley Authority. The changes are part of a $388 billion spending bill that was approved over the weekend. The utility's board will go from three full-time members to nine part-time members. The new board will also choose a chair and chief executive officer to oversee operations. Senate Majority Leader Bill Frist of Tennessee began pushing the expanded, part-time board in 1997 after TVA raised electric rates for the first time in a decade. Frist says he expects the reforms to have a broad impact. He says the new setup will help increase accountability and oversight. The federal utility serves about 8,000,000 customers in Alabama and other Southeastern states.