The TVA board of directors approved plans to reduce the values of its assets by an estimated $3.4 billion. After the reduction, the total value of TVA's assets would be $29.7 billion.
The move is designed to bring the plants more in line with market value.
"These adjustments will more accurately reflect the value of our assets and help TVA maintain competitive prices in the electricity marketplace of the future," TVA Chairman Glenn McCullough Jr. says in a prepared statement.
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