Tennessee Valley Authority
For the period ended Jun 30, 2026. Filed Aug 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 4, 2026
What changed in Risk Factors?
Read the current filingThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 14 previous paragraphs and 6 current paragraphs.
5 unchanged; 1 reworded; 0 added; 1 removed; 7 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Removed paragraphs (1)
Reworded paragraphs (1)
Previous wording
Under the TVA Act, a quorum of the TVA Board is five members. In January 2026, the TVA Board regained a quorum,
Current wording
Under the Tennessee Valley Authority Act of 1933, as amended ("TVA Act"), a quorum of the TVA Board of Directors ("TVA Board") is five members. In January 2026, the TVA Board regained a quorum, and it currently has six members. Becoming a member of the TVA Board requires confirmation by the U.S. Senate following appointment by the President, and this process may be lengthy. In addition, the President may remove TVA Board members, and TVA Board members may resign or otherwise leave office before a successor is commissioned. Without a quorum, the TVA Board may not have authority to direct TVA into new areas of activity, to embark on new programs, or to change TVA's existing direction. As such, the loss of a quorum for an extended period of time may have a negative impact on TVA's ability to change the rates TVA charges for power, change long-term objectives, plans, and policies, and respond to significant changes in technology, the regulatory environment, or the industry overall and, in turn, negatively affect TVA's cash flows, results of operations, financial condition, and reputation.
Rearranged previous paragraphs (7)
Previous report — wording carried elsewhere
and it currently has six members. Becoming a member of the TVA Board requires confirmation by the U.S. Senate following
Previous report — wording carried elsewhere
appointment by the President, and this process may be lengthy. In addition, the President may remove TVA Board members,
Previous report — wording carried elsewhere
and TVA Board members may resign or otherwise leave office before a successor is commissioned. Without a quorum, the TVA
Previous report — wording carried elsewhere
Board may not have authority to direct TVA into new areas of activity, to embark on new programs, or to change TVA's existing
Previous report — wording carried elsewhere
direction. As such, the loss of a quorum for an extended period of time may have a negative impact on TVA's ability to change
Previous report — wording carried elsewhere
the rates TVA charges for power, change long-term objectives, plans, and policies, and respond to significant changes in
Previous report — wording carried elsewhere
technology, the regulatory environment, or the industry overall and, in turn, negatively affect TVA's cash flows, results of