These have been TVA’s watchwords for the past 66 years as we’ve set about transforming the Tennessee Valley region through our unique public-service approach to power production, river management, and economic development. 

Now we’ve taken those two assets—power and reliability—to the capital markets, where we’ve won an international reputation for generating financial power as well. We’ve worked hard to create a variety of debt offerings that perform well and are tailored to meet a range of investors’ needs. 

By reaching out to many segments of the bond market with an assortment of debt securities, and by introducing new kinds of bonds like the putable automatic rate reset securities (PARRS), TVA has attracted a variety of investors in the U.S. and abroad. Our success in the financial marketplace has allowed us to reduce our interest expense and keep our power rates among the lowest in the nation. 

When people invest in TVA, they’re making an investment in our core concept: providing power in the public interest. We intend to repay them by continuing to innovate—reliably, of course—as we keep pace with the new millennium.