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Plant Closures (Notes) | 3 Months Ended
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Dec. 31, 2021
Property, Plant and Equipment [Line Items] |
Plant Closures Disclosure | Plant Closures Background TVA must continuously evaluate all generating assets to ensure an optimal energy portfolio that provides safe, clean, and reliable power while maintaining flexibility and fiscal responsibility to the people of the Tennessee Valley. Based on results of assessments presented to the TVA Board in 2019, the retirement of Bull Run Fossil Plant ("Bull Run") by December 2023 was approved. TVA is evaluating the impact of retiring the balance of the coal-fired fleet by 2035, and that evaluation includes environmental review, public input, and TVA Board approval. Financial Impact TVA's policy is to adjust depreciation rates to reflect the most current assumptions, ensuring units will be fully depreciated by the applicable retirement dates. As a result of TVA's decision to accelerate the retirement of Bull Run, TVA has recognized a cumulative $377 million of accelerated depreciation since the second quarter of 2019. Of this amount, $35 million and $33 million were recognized for Bull Run during the three months ended December 31, 2021 and 2020, respectively. During the first quarter of 2022, TVA implemented a new depreciation study related to its completed plant. The new study included a decline in the service life estimates of TVA's coal-fired plants based on current planning assumptions to potentially retire the remainder of the coal-fired fleet by 2035. As a result, TVA recognized an estimated $82 million of additional depreciation related to its coal-fired fleet during the three months ended December 31, 2021. This estimate represents the effect of using the new depreciation rates on the property, plant, and equipment balances at December 31, 2020, and does not include any potential impact from additions to or retirements of net completed plant that occurred since December 31, 2020.

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