ML24298A008
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| ML24298A008 | |
| Person / Time | |
|---|---|
| Issue date: | 10/30/2024 |
| From: | Brian Mcdermott NRC/OCM |
| To: | |
| Shared Package | |
| ML24263A246 | List: |
| References | |
| M241030 | |
| Download: ML24298A008 (1) | |
Text
Growth of Energy Demand and Decision Drivers A Tennessee Valley Perspective
Brian McDermott Director, Licensing and Planning New Nuclear Program Tennessee Valley Authority
October 30, 2024 Energy Demand
TVA System Demand*
- Strong economic development in the Southeast is fueled by competitive electricity rates and workforce availability.
- Load growth and growth projections since the Covid-19 Pandemic are returning to the levels observed prior to the 2008 Recession.
- Anticipated demand drivers include both the growth of industry and electrification, as companies seek to lower carbon emissions.
2 Energy Supply
- Total Power Supply Mix FY2023
- Watts Bar Unit 2 startup, 2016 55%
- Browns Ferry power uprates, 2019 Carbon-Free
- Seven coal-f ired sites were retired between 2012 and 2023
- Future Power Supply Mix
- Wind and solar additions
- Additional coal-f ired asset retirements
- Expanded use of gas
- Potential for new nuclear TVA Total Pow er Supply
- Potential for new storage, including FY2023 pumped storage Note: Chart depicts both generated and purchased power within respective resource types. For additional information, please see Total Power Supply by Generating Source in TVA's Annual Report on Form 10- K.
3 Decision Drivers
The TVA Act requires the use of least-cost planning to provide reliable and affordable electricity to its customers.
TVAs aspirational path to Net Zero emissions includes the planned retirements of the remaining four active coal -fired fossil plants by 2035.
TVAs draft 2025 Integrated Resource Plan examines how TVA can meet future demand for power in new and innovative ways.
www.tva.com/environment/integrated -resource-plan 4
TVAs Nuclear Strategy
- TVA has not yet decided to deploy an SMR. Any decisions will be subject to support, risk sharing, required internal and external approvals, and completion of all necessary environmental and permitting reviews.
5 Future Outlook
- Utilities with coal-fired generation sites face similar challenges and uncertainties in making future asset decisions.
- Generating asset decisions must consider costs, environmental factors, reliability, regulations, stakeholder feedback and energy efficiency.
- Domestic policy options on climate change, the environment, and energy production may impact the timing and cost comparisons supporting asset decisions.
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