The record fiscal 2013 generation, which is enough electricity to power more than 1.2 million homes in the TVA service area for an entire year, is attributed to above average rain and runoff.

The area recorded almost 62 inches of rainfall and almost 30 inches of runoff in fiscal 2013, which were 121% and 136% of normal, respectively.

TVA continues to modernize some of its old dams and has since 1992 modernized 55 of its 109 conventional hydro generating units, increasing 442MW capacity for the system. Additionally, it has committed $350m in August 2013 to upgrade an additional 51 units that will increase their capacity by 184MW.

TVA executive vice president and chief generation officer Chip Pardee said that the company has attributed the achievement to all of its employees, who manage its integrated river system around the clock, everyday of the year.

"This includes the professionals at the dams, in our river forecast and power dispatch centers, and the rest of our transmission and operations groups.

"Together they have maximized low-cost hydro generation for the 9 million power consumers in TVA’s power service area," Pardee.