Knoxville (AP) -- Although cold weather is forecast for the next couple of days, the TVA balance sheet is being hurt by the mild, dry winter.
Net income is running about $53 million less than budgeted through the first half of the fiscal year.
Electricity sales and operating revenue are both well below normal.
The self-supporting agency operates on a budget of around $9 billion.
Hydroelectric generation, TVA's cheapest source of power, is 25 percent below normal because of the dry weather.
The three-month period of January through March was the driest on record for the Tennessee valley. That followed a December-February period that was the driest on record for the valley above Chattanooga, which includes most of the tributaries feeding the Tennessee River system.
Copyright 2007 by the Associated Press. All rights reserved.
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