TVA Won't Ask Congress to Raise Borrowing Cap

WKMS | By The Associated Press

Published September 3, 2013 at 11:54 AM CDT

Tennessee Valley Authority says it’s not going to ask Congress to raise its borrowing cap for at least a decade.

The federal utility says slowing demand for electricity means it could reduce its net borrowing in the next two years and whittle down its debt by $5 billion in a decade. A few years ago TVA officials worried Congress’s $30 billion debt cap would be a problem. Now TVA expects its debt to peak just below the cap in 2015, then decline.

The utility provides power to about 9 million people in Kentucky, Tennessee and several other southern states.

Government & Politics

Whitney Jones

Whitney grew up listening to Car Talk to and from her family’s beach vacation each year, but it wasn’t until a friend introduced her to This American Life that radio really grabbed her attention. She is a recent graduate from Union University in Jackson, Tenn., where she studied journalism. When she’s not at WKMS, you can find her working on her backyard compost pile and garden, getting lost on her bicycle or crocheting one massive blanket.

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