1 2 LINKEDINCOMMENTMORE

The Tennessee Valley Authority said its on track for a good fiscal year, according to its third-quarter earnings.

TVA pocketed $147 million on its almost $8 billion in revenue for the 9-months ending on June 30. The utility said it reduced its operating and maintenance costs by nearly 7 percent in the third quarter of 2014.

"We have seen some positive signs both operationally and financially through the first nine months of the year," said Bill Johnson, TVA president and CEO, in a statement. "Revenues are higher, operating expenses are down and income is up."

But compared to this period last year, total sales were down 3 percent. TVA attributed this drop to the closing of U.S. Enrichment Corporation's facilities in Paducah, Ky. in 2013. At the time, USEC was TVA's largest directly served industrial customer at the time.

Read or Share this story: http://on.wbir.com/1s8mGxP