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Plant Closures (Text Block) | 6 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment Impairment or Disposal [Abstract] |
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. In addition, TVA is evaluating the impact of retiring the balance of the coal-fired fleet by 2035, and that evaluation includes environmental reviews, public input, and TVA Board approval. Due to these evaluations, certain planning assumptions were updated, and their financial impacts are discussed below. In January 2023, TVA issued its Record of Decision to retire the two remaining coal-fired units at Cumberland Fossil Plant ("Cumberland") by the end of CY 2026 and CY 2028. 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 $555 million of accelerated depreciation since the second quarter of 2019. Of this amount, $37 million and $35 million were recognized for Bull Run during the three months ended March 31, 2023 and 2022, respectively, and $73 million and $70 million were recognized during the six months ended March 31, 2023 and 2022, respectively. TVA's decision to retire the two remaining units at Cumberland resulted in additional depreciation expense of approximately $16 million for the six months ended March 31, 2023, all of which was recognized in the three months ended March 31, 2023. TVA also recognized $7 million and $11 million in Operating and maintenance expense related to additional inventory reserves and write-offs for the coal-fired fleet, including Bull Run and Cumberland, during the six months ended March 31, 2023 and 2022, respectively. Of this amount, $3 million and $5 million were recognized during the three months ended March 31, 2023 and 2022, respectively.

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