Examination of Southern Company Financial report:
from 2002, shows them to have a comparable debt to that of the TVA. As would be expected, they fund that debt with stock offerings, bonds and other securities as necessary. TVA has to operate within the same financial guidelines as the private sector now. They were removed from the Federal umbilical cord many years ago.
The Tennessee Valley Authority is a wholly-owned, but self-funded agency of the U.S. government. TVA meets its funding needs with operating revenues and power program financings. TVA debt securities are obligations of its power system and are only issued for power program purposes, including refinancing of existing debt. TVA debt securities are not obligations of the U.S. government and do not carry a government guarantee.
TVA issues a variety of debt securities. TVA Discount Notes have maturities of less than one year. TVA may issue long-term bonds with final maturities of up to 50 years. These bonds and notes are available to investors through banks, brokers and investment dealers.
Obtained straight from the TVA Government Website.
The fact is that TVA only provides a pension for employees hired before 1996. All employees hired after that date only get the typical 401K investment opportunity like the rest of private industry. TVA decided a long time ago to no longer provide a pension to its employees, after those that are grandfathered in are worm dirt. TVA is nothing like the other government entities, and no longer receives Federal Funding. TVA even now pays for all river/flood control, parks and recreation out of their operating funds, they no longer receive Federal Funding for those items. As far as being over paid, I have worked both private, government, and TVA, and I can say without a doubt TVA employees are underpaid compared to private and government