TVA Income, Revenue Increase

KNOXVILLE, Tenn. (AP) - TVA says income and revenue both grew in the third quarter, though the lack of rain is still hurting the agency's bottom line.

For the three months ending June 30th, TVA reported net income of $194 million, compared to $162 million for the same period in 2006. Operating expenses and sales were essentially flat.

For the first three quarters, net income was $371 million, up from $123 million a year ago.

Total operating expenses grew about 2% for the first nine months of the fiscal year, compared to fiscal 2006, and power sales were up slightly.

TVA is the country's largest public utility and provides electricity to customers in parts of north Alabama.

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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