NASHVILLE, Tenn. (AP) -- The Obama administration's 2014 budget is calling for a strategic review of the Tennessee Valley Authority, opening the possibility that the largest U.S. public utility could be sold.
TVA officials seem to have been caught off guard by the budget proposal released Wednesday. Board chairman Bill Sansom says the utility doesn't know what options the review will consider. Sansom promised the board will "continue operating TVA in a sound financial manner" in the meantime.
Although TVA does not receive taxpayer appropriations, the utility's expenditure of borrowed funds does count in the federal deficit.
Republican Sen. Lamar Alexander called the possible sale a bad idea.