It's a law that only a mother could love.
It's tough to write another word about repealing the Public Utility Holding Company Act (PUHCA), or the "35 Act," as it is also...
Public Power in a Competitive Electricity Market
pays taxes year after year (em something TVA has not done.
Peter Lynch, the former analyst at Fidelity's Magellan Fund, noted, "There has never been a serious effort to privatize the TVA, but if there was I would be the first in line to get a copy of the prospectus."
William Malec, TVA's former chief financial officer, agrees that the time for privatization has arrived. He says TVA's power generating assets could fetch some $50 billion on the open market. "Selling off TVA is a natural next step," says Malec.
Richard Munson is executive director of the Northeast-Midwest Institute, a nonprofit policy center in Washington, D.C.
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