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TVA Fires Up 1,450 MW Cumberland Plant, Locks In Nearly 1 Tcf of Gas
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Marcellus Drilling News
The headline numbers are fine but boring: $10 billion in revenue over nine months, net income of $965 million, up $220 million from last year.
However, if you dig into the 10-Q, there's real news for Marcellus/Utica producers.
TVA's giant new Cumberland gas plant has fired up for the first time.
TVA borrowed $2 billion to pay for it — the largest such financing in the agency's history.
And TVA has quietly expanded its natural gas hedge book to nearly 1 trillion cubic feet.