At the Tennessee Valley Authority, Michael D. Skaggs has been promoted to chief operating officer and Thomas C. Rice has been promoted to vice president of financial operations & performance.
Skaggs will be responsible for power operations, nuclear, transmission and power supply and generation construction, projects and services.
He has 35 years of experience in the utility business, more than 25 of those with TVA. Most recently, he was executive vice president, operations, with responsibility for safety, transmission and power supply, land and river management, environmental compliance and operations, supply chain, enterprise improvement, aviation services, TVA police and emergency management, and facilities.
Rice will be responsible for capital allocation and portfolio management, generation finance and business operations, and business planning and analysis.
He has 16 years of experience with TVA, most recently serving as director of business planning and analysis. Before that, Rice was director of demand side pricing and strategy in pricing and contracts.
TVA is a corporate agency of the U.S. that provides electricity for business customers and local power companies serving more than 9 million people in parts of seven southeastern states. TVA owns 30 hydroelectric facilities throughout the Tennessee River system, as well as the Racoon Mountain pumped-storage plant. The agency also purchases power from eight hydro plants on the Cumberland River operated by the U.S. Army Corps of Engineers.
Recently, TVA reported its operating revenues were up, thanks in part to the strong performance of its hydro assets.