Opening
On behalf of the Tennessee Valley Authority, I would like to thank you for the opportunity to be here today to discuss TVA’s nuclear program and the Browns Ferry Unit 1 restart. My name is Glenn L. McCullough, Jr. I have served on the TVA Board of Directors since November 1999, and I was designated Chairman by President George W. Bush on July 19, 2001.

TVA exists to serve the needs of its 158 power distributors and 62 directly served customers and the 8.5 million people of the Tennessee Valley by providing affordable and reliable electric power, environmental stewardship, and leadership in sustainable economic development. A corporation of the federal government, TVA is entirely self-financing and receives no funding from Congress.

TVA is committed to conducting its business in an open and forthright manner that earns the confidence of Congress and the Administration, and in our customers, our investors, and the people of the Tennessee Valley.

History of TVA Nuclear
TVA’s commitment to meeting the region’s electricity needs while protecting the environment and supporting a vibrant economy is consistent with President George W. Bush’s National Energy Policy. TVA maintains a diverse fuel mix and a strong national transmission system. TVA’s strategy of investing in a balanced portfolio of energy sources - nuclear, hydro, coal, natural gas - is similar to the nation’s energy mix, and minimizes the price and availability risks associated with over-dependence on a single energy source