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.
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