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Mon December 10, 2012
TVA to Hold Special Meeting to Delegate Authority
The Tennessee Valley Authority is expected to meet Monday to discuss delegating authority to the utility's new chief executive until it fills several vacancies on its board. The board is made up of nine members and five seats are pending congressional action, including one that's up for reappointment. Congress is set to adjourn this month.
TVA spokesman Scott Brooks says the new authority, if approved, would allow the agency to operate without the board "in certain critical areas," such as handling rates and contracts. Last month, TVA's board chose former Progress Energy CEO Bill Johnson to lead the nation's largest public utility, which provides electricity to 9 million people in seven states, including Kentucky and Tennessee.