This increase was driven by a $16 million increase in payroll and benefit costs primarily for labor escalation and severance costs and an $18 million increase in technology costs associated with higher license and subscription costs and additional cloud asset amortization.

filing / Aug 4, 2026 / receipt

TVA must continue to drive efficiencies and cost savings across the enterprise to provide affordable, reliable electricity, while funding the capital investment needed to meet growing demand.

filing / Aug 4, 2026 / receipt

The table below summarizes the activity related to severance costs associated with the ETP: Severance Cost Liability Activity (in millions) Severance cost liability at September 30, 2024 $ - Liabilities incurred during the period 40 Actual costs paid during the period ( 26 ) Severance cost liability at June 30, 2025 $ 14 Severance cost liability at September 30, 2025 $ 11 Liabilities incurred duri

filing / Aug 4, 2026 / receipt

This decrease was driven by a $48 million decrease in payroll and benefit costs primarily due to severance costs associated with the Enterprise Transformation Program ("ETP") efforts in the three months ended March 31, 2025, and a decrease in headcount as compared to the prior year.

filing / May 5, 2026 / receipt

In addition, there was a $48 million decrease in payroll and benefit costs primarily due to severance costs associated with the ETP efforts in the six months ended March 31, 2025, and a decrease in headcount as compared to the prior year.

filing / May 5, 2026 / receipt

TVA must continue to drive efficiencies and cost savings across the enterprise to provide affordable, reliable electricity, while funding the capital investment needed to meet growing demand.

filing / May 5, 2026 / receipt