TVA nets $122M more than last year

The Tennessee Valley Authority reported a record net income for fiscal year 2016, which ended Sept. 30 — $1.2 billion, up $122 million from 2015 — but higher incomes were not enough to put much of a dent in TVA’s pension plan deficit.

“It was a strong year for TVA employees — they met goals and objectives and delivered results for the Tennessee Valley financially, operationally and in our relationships with customers and other stakeholders,” TVA President and CEO Bill Johnson said in a statement.