►
Description
House Commerce Committee- February 8, 2022- House Hearing Room 1
A
And
with
that,
we're
going
to
call
this
meeting
of
the
full
commerce
committee
we're
going
to
call
it
in
session
it's
time
to
get
commercial.
Mr
clark,
would
you
please
call
our
roll.
C
D
A
That's
great
before
we
get
started,
anybody
have
any
personal
orders
other
than
me.
I
want
to
say
happy
birthday
to
the
best
analysts
in
this
building.
Mr
ben
voidus.
A
And
seeing
none
others
we're
going
to
get
into
our
calendar
today,
just
to
give
everybody
kind
of
a
order
of
business
that
we're
going
to
do
we're
going
to
work
through
some
pretty
quick
bills.
Here
then
we're
going
to
go
out
of
session
in
order
to
hear
some
testimony,
and
hopefully
maybe
maybe
not
wind
up
our
well
today,
it's
not
extra
credit
today.
It's
it's
just
full
course
credit.
So
those
who
are
not
here
may
may
see
an
impact
to
their
yelp
rating
by
the
time
we
get
through
with
this
session.
A
So
with
that
we'll
get
into
our
calendar
first
bill
is
house
bill
0170
and
without
objection,
we're
going
to
roll
that
item
one
week.
A
Next
item
is
hb
1652
without
it,
without
any,
without
any
problems.
We're
also
going
to
roll
that
one
one
week.
B
Thank
you,
mr
chairman.
Thank
you,
members
house,
bill.
1668
is
really
a
bill
to
clean
up
and
clarify
something
for
the
mortgage
lenders.
Right
now.
Mortgage
originator
or
lender
has
to
put
two
numbers
on
the
document,
and
one
of
them
is
a
tennessee
license
number
and
the
other
one
is
a
mls
number
and
the
adjacent
states
to
tennessee
do
not
require,
I
believe
only
tennessee
requires
two
numbers,
so
the
short
is
we
were
just
going
to
make
things
more
simple
for
our
mortgage
lenders.
Mr
chairman,.
B
Thank
you,
mr
chairman,
chairman
moon.
Could
you
tell
us
what
nmls
stands
for
nationwide
multi-state
licensing
system
and
we
worked
with
the
department
and
they
helped
tweak
the
language
and
that's
why
it
says
a
unique
identifier.
A
A
A
A
A
F
You,
mr
chairman,
thank
you
committee
members.
I
appreciate
the
opportunity,
mr
chairman,
to
present
the
crown
act
again,
just
bringing
it
to
current
posture.
You
know
we
had
it
last
year
and
there
were
people
that
had
some
concerns
about
creating
a
protected
class
and
that's
not
what
we
were
trying
to
do.
We
were
just
trying
to
make
sure
that
people
whose
hair
and
their
natural
styles
people
are
not
discriminated
because
of
it,
and
so
you've
worked
very
hard
with
me
with
me.
F
The
department
of
safety
has
worked
hard
with
me,
mr
brown,
from
nfib
to
try
to
get
to
posit
the
bill
in
a
good
posture,
so
I'd
move
we
saw,
I
got
to
got
a
motion
a
second
already.
Okay,
thank
you.
I
appreciate
that,
and
so,
mr
chairman,
I
know
you
and
I
talked
about
an
amendment
you
wanted
to
offer
and
so
I'll
defer
to
you.
Mr
chairman,
on
the
amendment.
A
A
Yes,
sir,
it's
a
drafting
code,
12
880,
and
for
folks
that
that
are
curious
as
to
what
we're.
What's
why
we're
amending
this
is
number
one.
I
support
the
the
leader's
efforts
on
this
bill.
A
I
was
going
to
joke
about
how
I've
been
discriminated
against
with
my
hair,
but
I
don't
have
enough
so,
but
no,
I
grew
up
in
a
diverse
community.
I
understood
at
an
early
age
that
hair
means
different
things
to
men,
different
folks
with
regards
to
its
importance
to
them
not
only
in
their
raising
but
also
their
culture
and
other
things,
and
so
when
this
bill
came
through,
I
tended
to
be
sympathetic
to
it.
A
You
could
so
this
would
have
provided
a
protected
class
that
someone
could
have
gone
into
and
come
out
of
by
virtue
of
how
they
felt
about
wearing
their
hair
for
a
certain
period
of
time.
So
it's
like
okay.
How
do
we?
How
do
we
make
this?
How
do
we
protect
the
protected
classes
that
we
have
because
most
folks
that
the
in
the
protected
class
system
we've
got
now
they're,
either
born
that
way
or
they've?
Had
an
unfortunate
incident
occurred
to
him?
A
But
you
can't
change
that,
and
so
with
that
being
said,
I
I
worked
with
leader
and
she
was
very
helpful
and
I
worked
with
jamie
on
our
legal
staff
to
come
up
with
a
way
that
we
could
provide
protection
against
discrimination
for
hairstyles
and
hair
choices,
but
yet
not
go
all
the
way
over
into
a
protected
class.
And
what
this
does
this
bill
sets
up
some
rule
making
by
the
department
of
labor
and
workforce
development,
and
they
will
promulgate
rules
with
some
with
some
penalty
structure
and
some
discipline
structure.
A
A
D
A
And
this
this
bill
will,
as
amended,
will
go
to
gov
ops
to
for
the
rule,
promulgation
portion
of
it
and
we'll
get
it
in
posture
before
it
goes
on
to
the
house
floor.
A
But
again,
I
I
have
a
a
great
amount
of
respect
and
admiration
for
the
bill
sponsor
and
I'm
tickled
that
we
could
get
something
done
on
this
on
a
a
piece
of
legislation
that
that
she's
passionate
about
so
are
there
any
other
questions
on
the
bill
as
amended
question
on
the
bill,
all
those
in
favor
of
bill
204,
please
signify
by
saying
aye
aye
any
opposed.
No
we're
headed
to.
F
A
All
right
and
now
we
are
going
to
go
out
of
session
to
hear
from
the
tennessee
valley
authority.
We
they
have
graciously
accepted
our
invitation
to
come
and
talk
to
us
about
their
overview
and
regulatory
role
in
managing
our
wholesale
power
distribution
throughout
the
state.
And
so
we're
going
to
go
out
of
order
here
and
listen
to
that
testimony
then,
hopefully
we'll
have
some
time
for
some
questions
and
then
we
will
also
hear
from
the
tennessee
public
utilities
commission
afterwards.
E
Sir
good
morning,
all
right
good
morning,
chairman
vaughn
and
members
of
the
committee,
thank
you
very
much
for
having
us
here
today.
My
name
is
melanie
farrell,
I'm
the
vice
president
of
external
strategy
and
regulatory
oversight
for
tva,
and
I'm
here
with
cameron
heck
who
is
the
director
of
regulatory
assurance.
E
E
It
is,
I
take
great
pride
in
working
for
tva
and
working
every
day
to
support
and
serve
this
mission.
This
mission
has
been
around
for
almost
90
years
and
while
there
are
differences
today
and
there
are
different
challenges
than
in
1933,
this
mission
is
no
less
critical
today
than
it
was
then
in
terms
of
impacting
the
lives
that
we
we
support
in
the
valley
next
slide.
E
So
I
want
to
spend
a
little
bit
more
time
talking
about
how
we
deliver
on
our
mission,
because
I
think
it's
very
important
to
ground
in
so
first
energy
that
is
low,
cost
and
reliable
to
meet
the
needs
of
the
valley.
Tva
generates
power
from
a
diverse
portfolio
of
assets,
including
nuclear
hydro,
renewable
energy
such
as
solar
and
fossil
fuels.
The
power
is
delivered
to
our
customers,
153
local
power
companies,
who
serve
more
than
10
million
people
and
some
seven
hundred
thousand
businesses
and
industries
across
our
service
territory.
E
E
E
Through
the
system
of
dams
in
the
tennessee
valley,
tva
was
originally
charged
with
managing
the
tennessee
river
system
for
the
purpose
of
power,
production,
navigation
and
flood
control.
Today
we
continue
this
work,
while
also
ensuring
the
river
system
provides
additional
benefits,
including
water
supply,
water,
quality
and
recreation.
E
Those
results
do
not
include
the
major
announcement
of
last
september,
where
ford,
motor
company
and
sk
innovation
announced
plans
to
locate
their
new
electric
vehicle
and
battery
plant
in
west
tennessee
plans
for
the
company's
largest,
most
advanced
and
efficient.
Auto
production
facility
will
create
nearly
6
000
jobs
and
invest
5.6
billion
in
the
local
economy.
E
So
with
that,
I'm
going
to
pass.
Excuse
me.
I
do
have
one
more
slide,
one
more
to
cover
before
I
pass
it
to
cameron.
So
last
but
not
least,
I
wanted
to
highlight
our
rate
competitiveness
with
this
slide,
so
we
have
worked
to
sustain
lower
operating
and
maintenance
costs
over
the
last
decade,
which
has
positioned
our
rates
to
be
amongst
the
lowest
when
compared
to
the
top
100
utilities
across
the
united
states.
E
G
Thank
you
melanie.
Thank
you,
mr
chairman
and
committee
members,
we'll
now
transition
our
conversation
to
tva's
role
as
regulator
first
before
we
do
that
to
kind
of
help
set
up
set.
The
stage
for
that
conversation
want
to
provide
a
little
bit
of
background
on
where
and
how
did
this
regulatory
role
begin?
This
model
begin
from
a
historical
perspective,
david
lilienthal,
known
as
the
father
of
public
power,
was
one
of
tv,
one
of
tv's,
first
three
directors
and
eventual
chairman.
G
He
felt
strongly
that
only
a
public
power
model
could
accomplish
the
objective
of
providing
affordable
electricity
for
everyone.
G
Mr
leonthal
recognized
that
distributors
of
tva
power
had
the
responsibility
for
the
ratepayer
and
community
relationship
subject
to
broad
tva
regulatory
policies,
david
lillianthal
envisioned
a
balanced
regulatory
approach,
which
is
consistent
with
tva's
regulatory
framework.
Today
he
built
helped
build
the
tva
public
power
system
according
to
one
guiding
principle:
affordable
power
before
everyone
in
the
tennessee
valley.
To
achieve
that
goal,
he
felt
that
public
power
should
be
distributed
publicly
through
a
network
of
municipal
boards
and
rural
co-ops.
G
So
this
slide
is
intended
to
highlight
some
of
the
key
attributes
of
the
public
power
model,
tva
partners
with
105,
municipal
and
or
local
governments
and
49
member-owned
cooperatives
to
improve
the
quality
of
life
for
the
people,
the
tva
va
or
the
tennessee
valley.
But
how
do
we
do
that?
Being
non-profit?
G
Unlike
investor-owned
utilities,
tva
and
local
power
companies
are
non-profit?
We
don't
have
investors
for
which
we
are
trying
to
provide
a
financial
return
on
that
investment.
Tva
sells
electricity.
We
generate
at
wholesale
rates
to
local
power
companies
who,
in
turn,
distribute
that
power
to
end
use
consumers
at
retail
rates.
G
Tva
was
created
to
provide
power
to
the
people.
The
tv
act
intended
that
tva
be
a
public
power
company
from
the
beginning.
The
tv
act
specifically
states
that
the
tva
board
was
empowered
and
authorized
to
sell
the
surplus
power
not
used
in
its
operations
to
states,
counties,
municipalities,
corporations,
partnerships
or
individuals,
and
shall
give
preference
to
states,
counties,
municipalities
and
cooperative
organizations
of
citizens
or
farmers
not
organized
or
doing
business
for
profit,
but
primarily
for
the
purpose
of
supplying
electricity
to
its
own
citizens
or
members.
G
So
it's
important
to
note
the
tva
serves
as
both
a
regulator
and
regulated
entity.
The
role
that
I'll
discuss
today,
however,
has
limited
tva's
role
as
regulator
and
its
oversight
function
of
153
local
power
companies
that
distribute
tva
power.
I
would
preface
the
slide
we
have
here
was
saying
that
from
here
on
out
in
the
presentation,
you
will
notice
that
at
its
core,
the
philosophy
and
execution
of
tva's
regulatory
role
is
centered
on
the
protection
of
the
rate
payer.
G
G
Why
do
we
regulate
them?
We
regulate
local
power
companies
to
achieve
the
regulatory
objectives
of
the
tv
act.
Specifically,
section
10
of
the
of
the
td
act
grants
the
tva
board
authority
to
regulate
local
power
companies.
It
provides
the
tva
can
enter
into
contracts,
approve
rate
schedules
and
enter
into
rules
and
regulations
in
his
judgment
that
are
necessary
or
desirable
to
carry
out
the
purposes
of
the
tva
act.
G
G
We
we
will
get
into
more
of
that
in
a
little
bit
and
how
we
do
that
in
some
following
slides,
but
in
summary,
lp
local
power
companies
are
required
to
treat
rate
payers
within
the
same
rate
class
in
a
non-discriminatory
manner,
no
treatment,
no
special
treatment
or
concessions
to
individual
rate
payers
within
a
rate
class.
G
G
So
this
slide
is
intended
to
demonstrate
the
source
of
tva's
regulatory
authority
and
from
where
it
is
derived.
It
is
important
to
note
that
tva's
regulatory
authority
originates
from
the
u.s
constitution
in
the
tda
act.
The
constitution
gives
congress
the
power
to
dispose
of
property
belonging
to
the
united
states.
Government
and
case
law
has
shown
that
tva
power
is
considered
property
of
the
united
states
government
congress
recognized
that
the
board
might
need
the
tva
board,
which
is
appointed
by
the
president.
G
I
would
mention,
and
and
confirmed
by
the
senate
but
the,
but
the
congress
recognized
that
the
tva
board
might
need
to
establish
certain
policies
and
requirements
to
carry
out
its
mission
of
providing
for
the
social
and
economic
welfare
of
the
residents
of
the
tennessee
valley.
So
to
do
this,
congress
delegated
its
oversight,
powers
related
to
the
sale
of
tva
power
in
the
tv
act
to
the
tva
board.
G
To
achieve
these
objectives
that
I
mentioned
of
nondiscrimination
and
low
rates,
the
tva
act
grants
the
board
authority
to
enter
into
power
contracts
with
local
power
companies
and
and
also
in
addition
to
including
regulation
in
the
form
of
power
contract
terms.
The
tva
board
may
provide
for
rules
and
regulations,
and
its
judgment
may
be
necessary
to
carry
out
the
purposes
of
the
tva
act.
G
So
this
slide
is
just
a
basic
summary.
Excuse
me
of
tva's
regulatory
authority,
where
it's
derived
from
both
in
the
tva
act,
which
grants
the
tva
board.
The
broad
authority
I
mentioned,
and,
and
so
this
just
caps
encapsulates
our
regulatory
role
when
you
distill
down
the
previous
slide
that
I
walked
through
on
our
authority.
G
So
when
it
comes
to
rates,
tva
has
the
authority
to
set
wholesale
power
rates
and,
broadly
speaking,
review
and
approve
retail
rates
to
ensure
low
rates
we'll
get
into
that.
What
that
looks
like
a
little
bit
more
later,
non-discrimination.
I
mentioned
that.
What
does
that
mean?
Well,
I
briefly
touched
on
it,
but
tva
works
with
local
power.
G
Electric
system
revenues
for
just
some
examples
are
like
operations
and
maintenance
expenses,
electric
system,
capital
improvement
systems,
indebtedness,
things
like
that
that
are
tied
to
electric
system
operations,
one
distinction
I'll
mention
when
it
comes
to
the
municipal
contracts
under
use
of
revenues,
specifically
that
the
the
only
source
of
revenue
from
which
a
municipality
can
derive
from
a
local
municipal,
local
power
company
would
be
that
they
would
be
the
payment
in
lieu
of
taxes
that
they
get
on
an
annual
basis
and
that
formula
is
set
by
the
state
and
then
also
federal
standards.
G
Tva,
the
tva
board
adopted
some
standards
under
the
public
utilities,
regulatory
policies
act
or
purpa
regarding
service
practice
policies.
These
speak
to
things
such
as
deposits,
determination
of
determination
of
service
for
non-payment,
billing
and
information
consumers.
G
We
provide
some
standards
there
that
we
adopted,
as
well
as
some
other
standards
related
to
in
interconnection
and
other
things
we
as
well
as
net
metering,
is
another
area
that
we
we
adopted
under
financial
health,
tva
monitors
the
financial
health
of
local
power
companies
through
the
receipt
of
monthly
and
annual
financial
reporting,
and
we
also
review
their
external
audit
reports
and,
in
many
cases,
reconcile
those
with
their
their
annual
financial
reporting
to
help
ascertain
whether
the
local
power
companies,
external
auditor
may
have
identified
any
accounting
issues
or
unauthorized
loans,
or
from
one
division
or
other
internal
control
issues
and
then
also
joint
use.
G
Our
contract
allows
for
local
power
companies
to
share
re
for
their
divisions
if
they
have
multiple
divisions
to
share
certain
research
or
resources
and
assets.
But
we
we
have
a
requirement
that
they
allocate
the
costs
appropriately
who's
using
those
assets
in
order
to
make
sure
that
rate
electric
system
rate
payers
are
not
subsidizing
non-electric
operations
and
that
all
helps
to
keep
rates
low.
G
So
this
slide
here
is
intended
to
highlight
some
of
our
more
recent
regulatory
policies
and
processes
and
how
they
support
our
regulatory
objectives
of
low
rates
and
non-discrimination.
So,
you'll
see
all
these
these
these
items
we
have
listed
here
feed
up
and
support
low
rates
and
non-discrimination
in
some
way
shape
or
form
the
rate
review
process.
G
I'll
just
talk
about
a
handful
of
these,
but
our
board
approved
a
rate
review
process
back
in
2000
2013
that
prescribed
certain
metrics
that
we
have
to
look
at
in
order
to
authorize
or
not
a
local
rate
adjustment
request.
G
G
We
refine
tva's
process
to
promote
ratepayer
confidence
and
increase
transparency
to
local
power
companies,
rate
payers
and
other
regulatory
entities
which
allows
which
allows
them
to
reach
out
to
tva
to
help
address
complaints
at
local
power
companies,
and
we
can
talk
a
little
bit
more
about
that
later.
As
poll
attachment
rate
regulation,
tva
provided
more
definition
and
clarity
around
its
around
its
regulation
in
2016,
around
poll
attachments,
the
full
cost
recovery
methodology.
G
I
mentioned
earlier
that
we
do
receive
financial
reporting
from
our
local
power
companies,
so
we're
able
to
evaluate
their
health
in
in
order
to
ensure
that
they
have
that
they
remain
viable
as
an
entity
and
and
and
support
them
in
ways
that
we
can
and
also
we
do
perform
pro
forma
financial
analysis
of
lpc's
financial
health
when
it
comes
to
requests
for
to
invest
in
in
certain
things
like
broadband
before
we
will
agree
and
allow
them
to
invest
in
broadband,
we
also
perform
analysis
of
lpc
uses
of
revenue.
G
We
that's
primarily
carried
out
as
part
of
our
role
in
our
compliance
function,
which
we'll
transition
to
now,
but
but
that's
inten.
The
intention
there
is
to
ensure
that
local
power
companies
are
using
electric
system
revenues
for
electric
system
purposes,
as
we
move
from
left
to
right
on
the
regulatory
assurance
and
compliance
function.
G
I
already
talked
about
the
annual
compliance
reviews
and
we
also
provide
professional
and
technical
accounting
advice
to
our
local
power
companies
talking
to
them
about
the
latest
accounting
policies
that
might
have
been
prescribed
through
ferc
and
others.
G
We
also
help
them
in
how
they're
supposed
to
book,
accountings
and
other
things
related
to
ferc
requirements
and
and
as
well
as
carry
out
a
variety
of
different
compliance
work
products
that
help
us
determine
that
local
power
companies
are
being
are
operating
in
a
way,
that's
consistent
with
their
wholesale
power
contract
requirements,
and
then,
lastly,
here
we
have
our
regulatory
policy
and
research
group,
which
is
primarily
focused
on
developing
and
interpreting
regulatory
policies,
so
we're
on
the
front
end
looking
out
and
doing
research
to
understand
what
the
future
might
look
like
as
it
relates
to
future
technologies
and
how
that
might
impact
tva
and
local
power
companies
things
like
battery
storage
and
what
does
that
look
like
in
the
future
other
distributed
energy
resource
topics,
things
such
as
that?
G
They
also
provide
support
to
our
regulatory
assurance
and
compliance
analysts
who
are
situated
throughout
the
tva
service
territory
and
working
with
our
local
power
companies.
On
on
interpreting
the
wholesale
power
contract
requirements
and
clarifying
wholesale
power
contract
questions,
and
lastly,
we
have
a
as
I
mentioned
earlier,
a
complaint
resolution
program.
We
adopted
that
in
2017.,
it's
posted
on
tva's
website,
local
power
companies,
as
well
as
rate
payers,
are,
can
have
many
ways
of
reaching
out
to
tva
for
assistance
on
resolving
complaints
because
they
can
either
submit
a
web
form
an
email.
G
So
this
this
slide
here
is
just
is
a
visual
of
our
regulatory
assurance
team's
presence
across
the
valley.
Just
to
give
you
a
sense
of
where
we're
situated,
as
you
can
see,
we're
spread
out
across
the
valley
and
close
to
many
of
our
local
power
companies,
which
allows
us
to
work
very
closely
with
them
and
the
communities
they
serve.
G
G
It's
a
very
rewarding
group
to
be
working
with
and
supporting,
but
we'd
like
to
just
thank
you
all
very
much
for
the
opportunity
to
provide
a
high
level
overview
of
our
role
as
regulator.
It's
critical
to
helping
us
ensure
help
tva
ensure
that
rates
are
low
and
rate
payers
are
treated
fairly
and
consistently.
A
Thank
you
very
much
and
for
our
members
make
sure
mr
mr
ben
gets
your
hand.
G
A
I
got
one
down
here:
yeah,
but
we've
I've
got
a
few
questions
of
my
own
for
you.
If
you
don't
mind
as
we
as
try
to
get
my
mind
around
this,
this
whole
concept
we've
been
I've.
I've
personally
been
struggling
with
it
as
we've
gone
through
this
as
your
role
as
regulator,
but
also
wholesale
suppliers.
So
you
are
actually
regulating
your
customers
and
it
seems,
as
there
could
be,
an
inherent
conflict
between
how
hard
do
you
come
down
on
the
people
who
provide
you
revenue?
A
That's
I
mean
I
know
you're
a
federal
entity
and
that
type
of
stuff
gets
in
there,
but
it
it
seems
like
that's,
not
a,
maybe
that's,
not
the
most
transparent
conducive
way
for
a
regulator
to
function
when
the
regulator
is
being
paid
by
the
person
that
he's
regulating,
but
I
guess
our
forefathers
thought.
That
was
a
great
thing
to
do
in
the
past.
A
With
regards
to
your
wholesale
power
contracts,
I
understand
that's
one
of
the
large
that's
one
of
the
vehicles
you
just
attested
to
had
that
you
used
for
for
managing
compliance,
but
yesterday
I
thought
it
was
interesting.
We've
talked
about
the
fact
that
your
largest
customer
is
thinking
about
leaving
you
and,
as
they
think
about
leaving.
You
are
y'all
still
going
to
regulate
them
after
they
no
longer.
You
are
no
longer
contractually
bound,
because
if
you
don't
have
authority
to
do
that,
then
you're
really
not
much
of
a
regulator.
A
You're
kind
of
a
customer
service
manager
because
you
can't
regulate
a
regulator,
regulates
everybody
in
the
valley.
So
I
I
want
to
figure
out
what
what
that
relationship
would
look
like
for
not
only
the
people
within
that
utility's
purview,
but
also
what
losing
10
percent
of
your
revenue
or
more
across
the
valley
would
make.
It
look
like
to
the
other,
to
my
to
my
colleagues,
co-ops
and
munis
that
are,
I
guess,
they're
lpcs
as
y'all
refer
to
them.
G
Sure,
thank
you
for
the
question,
mr
chairman,
assuming
and
presuming
that
a
local
power
company
provides
notice
to
us
consistent
with
our
power
contract
requirements.
A
Well,
I
guess
that's
my
point,
I'm
not
so
sure.
We've
got
a
tennessee
state
law
that
that
would
guide
that
practice,
considering
the
fact
that
we've
always
deferred
to
tva
what
a
quandary
that
would
present
you,
oh.
E
I
turned
it
off
instead
of
turning
on,
so
let
me
start
again,
as
you
saw
in
our
map,
in
terms
of
our
service
territory,
where
we
we
do
serve
the
majority
of
tennessee.
E
We
in
other
in
six
other
states
around
us,
serve
customers
that,
where
you
have
a
state
not
fully
served
so
those
outside
of
our
that
are
not
our
customers
are
governed
or
provide
oversight
is
provided
by
other
entities,
whether
it
be
a
public
service,
commission
or
utilities.
Commission,
it
just
happens
that
tennessee
we
serve
power
to
the
majority
of
those
lpcs,
but
cameron.
I
mean
cameron
is
right,
but
our
authority
to
regulate
is
not
driven
by
geographic
location.
It's
it's!
It's
focused
on
our
power
customers.
A
Again,
it's
it's!
That's
an
interesting
hypothetical
with
regard
and
I'm
going
to
ask
two
more
questions
and
then
we'll
go
around
the
horn
and
then
then
I'll
I
I
I've
just
got
so
many
questions.
A
One
has
to
do
with
the
issue
of
broadband
expansion.
Well,
no,
let's
go
back.
I
want
to
go
to
nondiscrimination
nondiscrimination.
First!
Does
your
power
contract?
I
know
that
it
sets
out
that
rates
cannot
be
charged
different
differently
across.
I
guess
an
lpc's
territory.
What
about
practices
for
system
expansion
costs?
A
A
G
Thank
you
for
the
question.
So
tvas
are
under
our
regulatory
oversight.
We
work
with
the
local
power
companies
to
help
set
up
set
up
set
rates,
but
in
terms
of
expansion
we
allow
for
local
power
companies
to
spread
the
cost
of
that
expansion.
They
have
to
collect
it,
but
they
spread
the
cost
of
those
of
that
expansion
into
their
rate
base
and
that's
intended
to
help
keep
rates
stable
and
low
across
the
system
itself.
We're
looking
at
it
from
a
system
wide
view
there
are.
G
There
are
some
specific
costs,
and
these
are
more
properly
answered,
probably
by
our
rate
design
administration
group,
as
it
relates
to
some
aid
to
construction
and
other
costs.
That
was
the
local
power
companies
recover
in
those
efforts.
But,
broadly
speaking,
we
allow
for
local
power
companies
to
spread
those
costs
across
the
rate
base
in
order
to
make
sure
that
rates
overall
are
kept
low
and
and
are
able
to
do
that.
A
So
it
sounds
to
me
like
if
I
could
discern
in
their
your
your
and
please
clarify
if
I
get
it
wrong,
it
sounds
like
that's,
maybe
something
that
y'all
don't
look
as
heavily
into
from
a
regulatory
standpoint
of
putting
forth
a
methodology
for
capital
expansions
of
their
system.
You
know
again,
how
does
one
person
know
that
they're
being
treated
the
same?
How
does
one
industry
know
that
they're
being
treated
the
same
way
when
it
comes
to
system
expansion
to
provide
them
with
their
with
their
utilities?
A
A
A
We
heard
yesterday
that
the
terms
and
conditions
on
all
these
wholesale
power
contracts
are
equivalent
across
the
system
that
they're,
even
if
you're
a
great
negotiator,
you
don't
get
to
negotiate
any
better
than
than
the
next
person.
Are
these
wholesale
power
contracts,
public
record
and
anybody
can
see
them
with
regards
to
the
relationship
between
tva
and
the
lpc.
G
So
we
would,
we
certainly
would
we
defer
to
local
power
companies
on
on
the
sharing
of
those
wholesale
power
contracts
with
their
members
or
other
interested
parties.
We
have
a
process
for
which
we
work
with
them
to
disclose
those
contracts,
so
we
do
encourage
and
support
the
release
of
those,
but
we
have
a
process
for
which
folks
go
through
to
obtain
them.
A
All
right
and
then
my
last
question
and
we're
going
to
go
around
the
horn,
then,
with
regards
to
poll
attachments,
he
seems
like
you
all
got
into
that
business
and
it
seems
like
the
tva,
the
member
utilities
and
co-ops
have
a
higher
poll
attachment
rate
than
say
other
utilities,
investor-owned
or
others
around
the
country
is
that.
A
Do
you
find
that
to
be
a
little
bit
self-serving
whenever
those
utilities
are
now
getting
into
the
broadband
expansion
area
to
where
their
their
chart
the
lack
of
competitiveness
between
their
ability
to
get
on
their
own
pole
versus
somebody
else
attached
to
it?.
G
It
is
intended
to
ensure
that
electric
system
rate
payers
are
not
under
otherwise
financing
or
funding
or
paying,
for,
I
should
say,
attachments
on
their
polls
that
are
not
electric
in
nature,
so
our
our
methodology
is
different
from
others,
but
we
stand
behind
it.
It
is
a
very
solid
methodology
in
terms
of
ensuring
that
the
ratepayers
are
not
disadvantaged
and
fun
and
otherwise
subsidizing
these
costs
of
these
non-electric.
G
Attaching
parties
we
our
methodology
is,
is
designed
to
it's
designed
to,
depending
on
where
the
attaching
party
is
on
the
pole
and
how
much
space
they
occupy,
but
but
it
is
intended
to
ensure
that
rate
payers
are
not
subsidizing.
Those
other
non-electric
attaching
parties,
so
it
helps
keep
rates,
low
electric
rates,
low.
A
Outstanding.
Thank
you
for
that
information
and
we're
going
to
go.
D
Thank
you,
mr
chairman.
I
do
and
I'm
going
to
shift
a
little
bit
away
from
the
regulatory
side
to
the
kind
of
operational
policy.
If
I
could,
could
you
all
give
me
a
thumbnail
of
the
power
generation
sources
of
tva
right
now
as
far
as
percentage
today,
and
maybe
how
it
was
five
or
ten
years
ago.
E
I
can
and
start,
but
I'm
gonna
refrain
from
trying
to
quote
percentages,
because
I
will
probably
get
them
wrong.
I
don't
have
them
in
front
of
me,
but,
as
we
have
I
mentioned
in
my
opening
remarks,
our
portfolio
is
comprised
of
hydro
nuclear
gas,
coal,
renewable
energy.
E
We
have
the
recognition
as
tva
is
bringing
the
newest
nuclear
unit
online
several
years
ago,
at
watts
bar,
so
we
have
a
large
nuclear
fleet
that
is
very
reliable
that
we,
that
really
is
a
kind
of
a
foundational
to
our
system.
Our
hydro
system
that
was
established
in
the
beginning
of
tva,
that
is,
on
the
tennessee
river
system.
E
We
utilize
as
much
fuel
as
we
can
get
from
that.
Now
I
will
say
the
changes.
In
the
last
several
years
we
have
begun
retirement
of
our
coal
assets
that
are
older
end
of
life.
We
have
brought
on
some
new
gas
assets
and
recently
have
set
forth
as
the
the
business
drivers.
Those
businesses
come
into.
The
valley
have
a
higher
demand
are
asking
for
renewable
energy.
We
have
set
forth
on
really
increasing
our
portfolio
as
it
relates
to
the
amount
of
solar
that
we
have
in
our
system.
D
E
E
That's
a
great
question
and
this
is
getting
a
bit
outside
my
purview,
so
I'm
gonna
be
limited
in
my
remarks,
but
we
have
a
combination.
We
we
have
an
aspiration
to
add
quite
a
bit
of
solar
thousands
of
megawatts
of
solar
onto
the
system
in
the
coming
years,
whether
it
is
through
purchase
power
agreements
with
the
third
party
provider
or
potentially
in
the
future
states,
something
that
we
might
consider
constructing
ourselves
from
a
cost
basis.
E
As
I
mentioned
many
industries
coming
into
the
valley
with
all
of
our
economic
development
efforts
are,
are
asking
for
renewable
energy.
It
is
not
always
the
cheapest.
If
that
is
the
case,
then
that
incremental
or
that
delta
of
the
cost
would
not
be
socialized
across
the
whole
rate
base.
It
would
be
born
to
that
entity
that
business
coming
into
the
valley.
So
that's
maybe
answers
a
bit
of
your
question
would
be
happy
to
bring
our
our
experts
in
solar.
D
A
Vice
chairman
brickens,
I
think
you
bring
up
a
point
that
that
is
one
of
the
things
that
is
becoming
apparently
readily
available
and
readily
obvious
to
me
through.
These
hearings
is
in
this
dynamic
field
of
utilities
and
power
generation
and
the
changing
landscape
of
our
state
and
the
changing
potential
changes
within
the
customer
base
of
tva.
That
it
looks
like
that.
We
may
need
to
consider
what
it's
going
to
look
like
without
tva
of
us
just
defaulting.
A
A
B
Thank
mr
chairman,
you
referenced
a
few
things
that
were
contract
violations
and
just
pick
one,
if
you
find
one
of
your
retailers
are
violating
some
part
of
the
contract.
How
do
you
all
handle
that?
I'm,
assuming
that
I'm
going
to
use
my
granny's
terms,
you
don't
just
cut
the
juice
off,
but
do
you
ask
them
for
a
corrective
action
plan,
or
how
do
you
do
that.
G
Yes,
sir,
thank
you
for
the
question
and
we
work
very
closely
with
the
local
power
companies
to
remedy
and
come
up
with
a
corrective
action
plan,
as
you
mentioned,
to
resolve
power,
any
power
contract
issues
that
we
find
we
develop
a
game,
a
plan
with
timelines
and
milestones
and
and
work
with
them
carefully
and
closely
to
make
sure
that
they
adhere
to
that.
G
So
there's
a
lot
of
engagement,
a
lot
of
discussion
and
our
team
works
directly
with
the
local
power
companies
to
make
sure
they
are
making
progress
on
those
corrective
action
plans.
That's.
G
B
A
Thank
you,
sir,
but
given
the
the
mission
of
that
would
take
a
restructuring
of
t
puck
as
well,
and
which
is
my
point,
is
that
this
body
needs
to
be
we're
going
to
have
to
be
reactive
to
what
the
marketplace
serves
us
up
in
the
coming
years.
Representative
zachary.
C
I'm
going
to
move
us
in
a
completely
different
direction
that
we
could
probably
could
probably
discuss
this
topic
for
an
entire
hearing
unto
itself,
but
based
on
the
meetings
we've
had
over
the
last
couple
of
weeks
regarding
power
and
water
and
the
distribution
of
those
services,
I
have
had
more
conversations
about
the
security
of
our
power
grid
and
the
security
of
the
state's
power
grid
and
how
the
functionality
of
the
two
work,
and
it
specifically-
and
this
is
not
congress,
obviously
based
on
the
fact
we
balance
our
budget
and
have
no
debt
and
run
things
really
well.
C
This
is
obviously
not
congress,
but
based
on
the
fact
that
the
tension
that
we
have
with
china,
russia's
possible
invasion
of
ukraine,
north
korea,
beginning
to
relaunch
missiles.
It
has
brought
back
up
the
conversation
of
what
an
emp
attack
would
do
to
our
power
grid.
What
a
solar
flare
event
like
in
the
1800s
would
do
to
our
power
grid,
how
that
would
impact
the
power
grid
as
a
whole,
but
also
specifically,
what
what
individual
states
can
do
to
protect
the
power
grid.
I
read
a
report
our
congressman.
C
My
congressman
gave
me
a
couple
of
years
ago
talking
about
and
I'll
totally
butcher
this,
but
the
core,
the
box,
the
central
units
that
are
used
for
the
distribution
of
the
power
grid,
are
made
by
one
or
two
particular
countries.
They
can
only
make
a
few
of
those
a
year.
So
in
the
event
there
was
a
large-scale
mp
attack
over
north
america
or
a
solar
flare
event.
C
C
Anybody
has
been
willing
to
have
because
of
unwillingness
of
congress,
to
do
the
things
that
that
probably
matter
most
to
people,
but
so
my
question
with
setting
that
up
is
what
is
tva's
responsibility
or
what
actions
have
tva
taken
to
protect
the
power
grid
and
specifically
in
the
event
of
an
emp
attack
or
a
solar
flare
event,
and
then
is
it
accurate
that
each
individual
state
can
take
certain
steps
for
protection
of
their
own
power
grid?
So,
in
the
event,
there
was
something
that
certain
protections
for
our
infrastructure
can
be
taken.
C
Can
you
talk
about
that
a
little
bit?
I
know,
mr
chairman.
We
could
spend
a
whole
hour
on
this,
but
I
think
it's
an
important
conversation
to
have
important
enough
that
there
were
seven
or
eight
legislators
at
dinner
last
night
and
it
was
the
topic
of
our
conversation.
That's
how
exciting
legislators
are
when
we
leave
here,
and
these
are
the
conversations
we
have,
but
it
came
up
and
chairman
boyd
was
a
part
of
those
conversations.
Can
you
speak
to
that
a
little
bit?
Please.
E
So
it's
an
excellent
question
and-
and
it's
really
outside
of
my
or
cameron
I
think's
ability
to
speak
to
it.
What
I
can
share
is
that
our
information,
our
it
organization,
our
cio
and
our
vice
president
of
cyber
security-
they
spend
a
lot
of
time
and
focus
and
attention
on
working
as
a
federal
agency,
with
the
federal
government
to
understand
those
risks
to
ensure
that
tva
is
safe
and
and
prepared
for
those
risks.
It
is
a
conversation,
often
with
our
board,
in
terms
of
just
risk
that
we
may
face.
E
Cyber
security
threats
is
amongst
the
top
concern,
but
we
have
plans.
We
have
strengthened
our
process
and
our
systems.
We
feel
that
we
are
well
positioned,
but
the
risk
is
always
there.
We
know
that,
so
what
I
would
offer,
certainly
for
this
committee
is
tv,
would
be
happy
to
bring
my
colleagues
from
our
cyber
security
organization
it
organization
to
this
committee,
if
so
desired,
to
spend
more
time,
they
could
provide
much
more
color
or
detail
than
I
could.
C
So
just
then
bringing
it
down
to
the
state
level
I
mean.
I
would-
and
I
understand
it's
outside-
of
your
beyond
your
expertise
and
even
moving
beyond
cyber
security,
because
again
this
would
be
basically
an
attack
on
our
nation
emp
via
some
sort
of
device
launched
in
space.
That
would
then
cover
our
country
cover
north
america,
creating
just
a
complete
outage.
C
So
I
would
like
to
know
what
steps
has
can
tva
or
has
tva
taken
congress
doesn't
act,
congress
does
nothing
what
steps
is
tva
taken,
but
I
would
like
I
would
like
some
sort
of
plan
presented
to
me
us
about
what
an
individual
state
can
do
to
take
the
steps
to
protect
the
infrastructure
of
the
state.
If
there
is
an
unwillingness
for
congress
or
tvas,
not
what
steps
can
we
take
to
protect
our
individual
power
grids?
If
we
can
cameron,
if
we.
A
Righty
thank
y'all
representative
powell,.
H
Thank
you,
mr
chairman.
I
appreciate
that.
First
of
all,
thank
you
for
being
here
appreciate
your
testimony.
Also
for
you.
Efforts
to
continue
to
down
the
path
to
clean
energy
and
renewable
energy
and
resources
is
very
important.
I
have
a
question
it
wasn't
touched
on,
but
it's
along
the
same
vein.
I
guess
you
know
originally
going
back
to
the
functions
of
tva,
I
believe
there's
11
communities
in
the
state
of
tennessee,
very
significant
communities,
you're
talking
about
knoxville,
chattanooga
others
where
flood
mitigation.
H
H
E
Yes,
so
again,
the
outside
of
my
scope,
but
I'll
give
you
a
bit
of
an
answer
and
if
follow-ups
needed
happy
to
do
that,
so
we
manage
the
tennessee
river
system
which
really,
like
you
said,
kind
of
runs
from
east
tennessee,
knoxville
chattanooga
down
into
north
alabama.
So
for
the
dams
that
we
have
on
that
system,
we
do
continually
monitor
and
maintain
ensure
the
the
strength
and
integrity
of
those
dams
terms
of
nashville.
E
Some
of
that
falls,
I
believe,
to
the
corps
of
engineers
right
versus
of
tennessee
or
tva.
Excuse
me,
so
I
can't
speak
as
well
to
that,
but
we
do
work
closely
with
all
state
and
federal
agencies,
as
it
relates
to
our
experience
and
and
depth
of
experience
and
management
of
a
river
system
with
as
many
dams
as
we
do
have
under
our
purview
and
and
as
I
noted
up
front,
it
was
part
of
a
core
of
our
mission
and
an
initial
focus,
and
it
still
is
today
as
well.
H
And
I
guess
just
as
those
dams
you
know
begin
to
age
and
and
we
start
to
see
some
of
the
different
stresses
from
increased
water
flows.
Are
there
any
plans
for
future
for
improvements
to
that?
To
that
infrastructure?
It's
really
critical
to
protecting
those
communities.
A
Thank
you,
we've
personally,
I'm
aware
of
a
lot
of
the
investments
you
have
made
at
pickwick
lately,
shoring
up
that
dam
and
and
renovating
those
locks,
and
so
it's
y'all
are
always
working.
That's
for
sure,
leader
camper,
you
have
a
question
for
us.
F
F
Now
I
had
a
question
around
the
poll
attachments
which,
on
your
slide,
you
talked
about
some
recent
clarifications
of
policies
around
that.
So
I
would
be
interested
to
know
what
you
know
what
the
clarification
was
about.
It's
been
a
lot
of
just
conversation
only
years
about
poll
attachments,
but
I
noticed
in
your
slide.
You
did
say
there
was
some
recent
policy
clarifications.
Can
you
talk
to
what
that
was
or
what
that
is
sure.
G
Yes,
ma'am,
so
back
in
2016,
the
tva
board
opted
to
clarify
its
position
on
pole
attachments
and
develop
a
regular
methodology
for
which
the
local
power
companies
would
apply
in
charging
those
parties
who
attached
to
their
polls.
So
it
was,
we
were.
We
were
very
being
very
clear
about
what
our
role
is,
as
it
relates
to
the
rates
in
poll
attachments.
F
G
Correct
so
we
wanted
to
make
sure
that,
as
I
mentioned
earlier,
that
electric
system
rate
payers
were
not
subsidizing
non-electric,
attaching
parties
to
electric
to
electric
system
poles
so
that
that
was
the
g.
That
was
the
drive
for
that.
The
objective
was
to
achieve
low
rates
and
then
for
those
rates
to
be
applied
fairly
and
consistently
to
your
point
on
non-discrimination.
F
Thank
you
also.
Let
me
take
this
moment
really
to
actually
thank
tba
for
that
very
mission,
particularly
around
keeping
the
rates
low,
because.
F
Mlgw
have
been
recognized
nationally
on
a
consistent
basis
for
the
work
that
they're
doing
so
I
think
a
lot
of
that
is
due
to
the
relationship
with
tva
and
your
objectives
of
low
rates
and
non-discriminatory
practices.
So
I
want
to
thank
you
for
that
and
thank
our
public
utility
for
the
same
this
weekend
we
had
an
ice
storm
and
it
was
terrible.
F
F
So
I
want
to
appreciate
the
linemen
and
all
the
people
who,
for
16
hours
a
day
every
day,
was
working
to
restore
power
to
the
citizens.
I
didn't
have
power
in
my
house.
I
understood
that
they
were
working
hard
and
understood.
You
know-
and
let
me
thank
them
too,
for
daily
and
sometimes
two
three
times
a
day
of
having
press
conferences,
interaction
with
the
public
on
facebook,
letting
people
know
live
what
was
going
on
check
the
the
map
and
all
of
that,
so
people
can
be
in
tune
to
what
was
going
on.
F
So
I'm
I'm
appreciative
of
what
happened
this
weekend.
It
was
beyond
our
control,
I
mean
they
would
fix
one
junction
box
and
a
tree
or
fall
over
here
and
hit
another
one,
but
they
never
stopped
working,
and
I
noticed
some
talk
out
there
about.
Maybe
they
need
to
sell
it
to
somebody
and
they'll
do
better.
Well,
I
don't
know
if
they'll
do
better,
I
don't
know
if
their
objective
is
going
to
be
keep
the
race
low
nondiscriminatory.
F
F
Lastly,
you
had
a
question
one
more
question,
mr
chairman:.
F
I
was
getting
long,
I
understand
I,
I
I'll
leave
it
at
that
again.
Look
I
want
to
thank
the
people
in
memphis
for
all
the
great
work
they
did
this
weekend,
all
the
linesmen
all
of
them,
I
mean
you,
know
their
families
who
sacrificed
too
their
power
was
out
too,
but
they
were
still
working.
So
I
want
to
thank
them
for
that.
Thank
you,
tva.
Whatever
question
I'll
have
I'll
ask
it
later
offline.
Mr
chairman,
all.
A
Righty,
thank
you
leader
and,
and
I
will
say
this
to
tva-
that
we're
appreciative
of
the
fact
that
the
wholesale
distribution
of
of
power
has
not
been
a
problem
for
us
in
in
this
state
for
quite
some
time.
It's
we
from
an
lpc
from
a
distribution,
standpoint,
weather
and
inclement
events
and
tornadoes,
and
things
like
that
typically
create
our
biggest
outage
issues.
A
It's
not
from
a
failure
of
the
system
or
a
lack
of
generation
capacity,
and
for
that
and
and
I'll
say
something
else
too,
is
for
those
of
us,
as
we've
gotten
into
a
comp
a
lot
more
depending
upon
electronics.
The
clean
power
that
is
issued
to
us
and
the
consistency
of
it
is
something
that
we
sometimes
take
for
granted.
B
Thank
you,
mr
chairman,
and
before
I
ask
a
question
I
would
like
to
personally
thank
you
for
the
meetings
that
we've
had
dealing
with
the
manufacturer,
all
the
way
down
to
the
ratepayers.
So
thank
you
so
much.
It's
been
very
informative.
E
It
is
a
it
is
a
separate
functionality
within
tva,
not
within
cameron,
eyes,
direct
purview
in
terms
of
doc
permits
and
that
type
of
regulation
that
we
do,
but
it
is
a
function.
Tva
provides
yes,
sir,
and.
B
G
G
A
Sir,
thank
you
representative,
alexander.
B
Thank
you.
I
just
want
to
say
thanks
to
tva,
for
restoring
our
dam
on
boone
lake
up
in
washington
county.
We
were
without
that
lake
for
several
years
because
of
a
bad
problem
there,
and
so
thank
you
all
for
doing
what
you
did
for
cleaning
our
lake
up.
You
all
worked
out
tirelessly
and
we
appreciate
it.
Thank
you.
Thank
you.
A
Alrighty
and
with
that
to
our
friends
from
tva,
thank
you
for
your
time
today.
A
I
think
you
will
find
that
we're
appreciative
that
you
were
here,
but
we
frankly,
you've
generated
almost
as
many
questions
as
we
had
before
you
got
here
with
regards
to
this,
especially
as
we
see
things
happen
within
our
state,
and
I
know
that
you
being
a
federal
agency,
sometimes
working
having
state
legislators
asking
you
questions
is
not
probably
exactly
the
way
you
want
to
spend
your
day,
but
we
see
a
void
coming
with
regards
to
the
regulatory
structure
within
our
state.
A
I
also
see
circumstances
that
are
arising,
that
is
going
to
impact
our
citizens
and
and
our
constituents
with
regards
to
how
they
are
supposed
to
be
treated
by
their
energy
provider.
I
also
see
energy
providers
having
the
potential
to
become
managers
of
growth
patterns
within
geographic
areas
due
to
their
ability
to
restrict
services
or
provide
services,
sometimes
to
constituents
who
have
no
redress
because
they're
municipally
owned,
but
not
by
the
municipality
that
people
live
in.
So
I
see
there
being
a
lot
of
issues
and
situations
that
are
coming
in
front
of
this.
This
body.
A
In
the
coming
years
that
we're
going
to
take
our
responsibilities
very
seriously,
we
look
forward
to
working
with
you
and
trying
to
figure
out
the
impacts
to
our
citizens
from
some
of
these
decisions
that
these
different
bodies
make.
And
but
I
want
to
thank
you
for
being
here
it.
It
was
very
informative
and
if
you
have
anything
any
wrap-ups
and
then
we'll
we'll
go
back
in
session
and
tend
to
the
rest
of
our
business.
E
Thank
you
very
much
and
if
I
may
just
offer
to
the
last
points,
you
made
a
few
additional
comments
that
were
not
highlighted.
First,
we
have
been
working
closely
with
mlgw,
respectful
of
the
process
that
they've
been
going
through
and
to
evaluate
the
potential
for
other
power
supply
providers,
but
we
believe
at
the
end
of
the
day,
we
do
provide
the
greatest
value
and
we
certainly
hope
that's
resolved
in
that
manner.
E
Mlgw
represents
roughly
10
percent
of
tvas
as
power,
one
of
the
largest
customers
that
we
have,
but
of
the
other
we
mentioned
153
local
power
companies
in
recent
over
the
last
two
years,
146
of
those
153
have
found
benefit
in
signing
a
long-term
power
contract
that
tva
offered,
which
is
an
evergreen
20-year
contract
with
that
is
a
rate
credit
to
those
lpcs
of
3.1
percent,
which
many
are
choosing
to
reinvest
in
their
systems.
There's
also
the
ability
for
those
to
have
a
bit
of
flexibility
generation,
flexibility
such
as
putting
solar
on
their
systems.
E
For
us,
this
was
a
demonstration
of
increasing
our
partnership,
the
long
partnership
that
we've
had
with
our
local
power
companies
and
with
that
are
working.
Now
and
always
have
been,
but
with
those
to
really
think
about
what
does
that
future
hold?
So
just
as
you
have
mentioned,
I
don't
want
to
leave
you
with
without
saying
that
tva
with
our
lpcs
is
working
very
closely
and
giving
a
lot
of
thought
to
what
is
the
future
of
our
industry.
How
do
we
need
to
evolve
our
our
asset
plans,
our
regulatory
strategy,
our
financial
plans?
E
Given
you
know
what
we
know
is
true,
which
is
the
landscape,
is
changing,
but
we
feel
well
positioned
and
are
excited
about
the
partnerships
that
we
have
and
and
again
being
respectful
of
mlgw
and
the
process
they're
working
through
to
determine
what
their
best
course
is.
Certainly
hopeful
in
believing
that
we
provide
the
greatest
value
and
looking
forward
to
seeing
how
that
is
ultimately
resolved.
So
thank
you,
mr
chairman,
and
the
committee
for
this
opportunity
and
for
the
questions
that
we've
generated
look
forward
to
the
opportunity
to
to
follow
up.
A
One
of
the
things
that
I
can
see
a
question
can
arise
in
my
mind
is:
are
here?
Are
we
comfortable
in
one
political
subdivision,
maintaining
that
type
of
power
and
control
over
other
political
subdivisions?
A
I
can
tell
you
I'm
not
very
comfortable
with
it,
but
we
will
see
how
that
discussion
finds
its
way
through
our
halls
in
the
coming
months
and
years,
but
with
that
we're
going
to
go
back
into
session
and
we
our
next
pres
presenter,
was
the
tennessee
public
utilities
commission,
but
I
think
tim
probably
has
more
to
say
than
five
minutes
and
so
without
us
having
adequate
time
we're
gonna
roll.
A
That
and
item
item
number
four
item
number
four:
we're
going
to
roll
those
to
next
week.
Calendars.
If
t
puck
will
indulge
us
and
perhaps
coming
back,
maybe
we
can
get
the
executive
director
here.
We
we
don't
know
we'll
we'll
do
our
best,
but
thank
you
we
are
going
with.
Do
I
hear
a
motion
to
adjourn.