TVA recently 1) cut 15 executive positions 2) halted a retirement plan and 3) froze executive pay through the fiscal year. The near-term savings: over $153M. These moves address Trump’s March memo to cap TVA salaries at $500K (including the CEO’s, which would mean a 95% reduction from two years ago).
Yes, but: TVA doesn’t appear eager to set a specific salary cap. Instead, the org plans to “rely on market medians to guide compensation,” Knoxville News Sentinel reported.
Meanwhile, two TVA directors’ terms are up—and the clock is ticking for President Trump and the US Senate to replace them.
Molly Glick
Energy Central Team
Sun, May 31
NEWS: President Trump’s push to curb TVA pay has shaken up the utility.
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