KNOXVILLE (AP) - The Tennessee Valley Authority will report third quarter financial results Friday.
In May, the federal utility said electricity sales declined 5.9% for the first half of fiscal year 2012, due to unseasonably warm winter weather. Total revenues declined 10.8% to $5.2 billion.
Earlier this year, TVA reported cost overruns of up to $2 billion at the Watts Bar Nuclear Plant unit 2. Final cost of construction is now estimated at up to $4.5 billion. It is projected to be done in late 2015, three years behind the original estimate.
The TVA inspector general has said the agency has taken positive steps to accurately report the construction progress.
TVA provides electricity to about 9 million people in Tennessee, Kentucky, Mississippi, Alabama, Georgia, North Carolina and Virginia.
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