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Revenue (Tables)

3 Months Ended

6 Months Ended

Mar. 31, 2021

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

State [Table Text Block]

TVA's operating revenues by state for the three and six months ended March 31, 2021 and 2020, are detailed in the table below:

Operating Revenues By State (in millions)
			Three Months Ended March 31												Six Months Ended March 31
			2021						2020						2021						2020
Alabama			$	379					$	360					$	713					$	729
Georgia			66						64						124						127
Kentucky			157						158						294						315
Mississippi			237						227						449						464
North Carolina			18						19						34						37
Tennessee			1,663						1,648						3,164						3,324
Virginia			11						12						21						23
Subtotal			2,531						2,488						4,799						5,019
Off-system sales			2						1						4						2
Revenue from sales of electricity			2,533						2,489						4,803						5,021
Other revenue			39						32						73						78
Total operating revenues			$	2,572					$	2,521					$	4,876					$	5,099

Revenue from External Customers by Products and Services [Table Text Block]

TVA's operating revenues by customer type for the three and six months ended March 31, 2021 and 2020, are detailed in the table below:

Operating Revenues by Customer Type (in millions)
			Three Months Ended March 31												Six Months Ended March 31
			2021						2020						2021						2020
Revenue from sales of electricity
Local power companies			$	2,337					$	2,301					$	4,428					$	4,658
Industries directly served			168						160						322						310
Federal agencies and other			28						28						53						53
Revenue from sales of electricity			2,533						2,489						4,803						5,021
Other revenue			39						32						73						78
Total operating revenues			$	2,572					$	2,521					$	4,876					$	5,099

Schedule of Long-term Contracts for Purchase of Electric Power

The number of LPCs by contract arrangement, the revenues derived from such arrangements for the three and six months ended March 31, 2021, and the percentage those revenues comprised of TVA's total operating revenues for the same periods, are summarized in the tables below:

TVA Local Power Company Contracts At or for the Three Months Ended March 31, 2021
Contract Arrangements(1)						Number of LPCs						Revenue from Sales of Electricity to LPCs (in millions)						Percentage of Total Operating Revenues
20-year termination notice						142						$	1,934					75.2		%
5-year termination notice						11						403						15.7		%
Total						153						$	2,337					90.9		%

Note

(1) Ordinarily, the LPCs and TVA have the same termination notice period; however, in contracts with two of the LPCs with five-year termination notices, TVA has a 10-year termination notice (which becomes a five-year termination notice if TVA loses its discretionary wholesale rate-setting authority). Certain LPCs have five-year termination notices or a shorter period if any act of Congress, court decision, or regulatory change requires or permits that election.

TVA Local Power Company Contracts At or for the Six Months Ended March 31, 2021
Contract Arrangements(1)						Number of LPCs						Revenue from Sales of Electricity to LPCs (in millions)						Percentage of Total Operating Revenues
20-year termination notice						142						$	3,654					74.9		%
5-year termination notice						11						774						15.9		%
Total						153						$	4,428					90.8		%

Note

(1) Ordinarily, the LPCs and TVA have the same termination notice period; however, in contracts with two of the LPCs with five-year termination notices, TVA has a 10-year termination notice (which becomes a five-year termination notice if TVA loses its discretionary wholesale rate-setting authority). Certain LPCs have five-year termination notices or a shorter period if any act of Congress, court decision, or regulatory change requires or permits that election.

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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

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Tabular disclosure of information concerning the terms and significance of long term contracts to purchase power (generally referred to as purchase power agreements (PPAs) or power sale agreements (PSAs)) including date of contract expiration, share of plant output being purchased, estimated annual cost, annual minimum debt service payment required and amount of related long-term debt or lease obligations outstanding.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 980
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 10.D)
-URI http://asc.fasb.org/extlink&oid=6499423&loc=d3e659339-123030

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