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Regulatory Assets and Liabilities

6 Months Ended

Mar. 31, 2025

Regulatory Assets and Liabilities Disclosure [Abstract]

Regulatory Assets and Liabilities

9.  Regulatory Assets and Liabilities

TVA records certain assets and liabilities that result from the regulated ratemaking process that would not be recorded under GAAP for non-regulated entities. As such, certain items that would generally be reported in earnings or that would impact the Consolidated Statements of Operations are recorded as regulatory assets or regulatory liabilities. Regulatory assets generally represent incurred costs that have been deferred because such costs are probable of future recovery in customer rates.  Regulatory liabilities generally represent obligations to make refunds to customers for previous collections for costs that are not likely to be incurred or deferral of gains that will be credited to customers in future periods. Components of regulatory assets and regulatory liabilities are summarized in the table below.

Regulatory Assets and Liabilities (in millions)
			At March 31, 2025						At September 30, 2024
Current regulatory assets
Unrealized losses on commodity derivatives			$	3					$	102
Unrealized losses on interest rate derivatives			52						54
Fuel cost adjustment receivable			186						35
Total current regulatory assets			241						191
Non-current regulatory assets
Non-nuclear decommissioning costs			6,224						6,187
Retirement benefit plans deferred costs			1,937						1,979
Nuclear decommissioning costs			477						362
Unrealized losses on interest rate derivatives			323						447
Environmental compliance and remediation costs			276						215
Unrealized losses on commodity derivatives			13						64
Other non-current regulatory assets			164						154
Total non-current regulatory assets			9,414						9,408
Total regulatory assets			$	9,655					$	9,599
Current regulatory liabilities
Fuel cost adjustment tax equivalents			$	179					$	169
Unrealized gains on commodity derivatives			108						5
Total current regulatory liabilities			287						174
Non-current regulatory liabilities
Retirement benefit plans deferred credits			73						81
Unrealized gains on commodity derivatives			8						2
Total non-current regulatory liabilities			81						83
Total regulatory liabilities			$	368					$	257

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- Definition

The entire disclosure for detailed information about regulatory assets and liabilities, including current and noncurrent assets created when regulatory agencies permit the deferral of costs to the balance sheet that would otherwise be required to appear on the company's income statement and would be charged against current expenses or revenues, as well as current and noncurrent liabilities created when regulatory agencies permit.

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