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Dave Flessner

Research Analyst at Chattanooga Times Free Press

Dave Flessner served as the Business Editor at the Chattanooga Times Free Press, focusing on local business developments and reporting on companies such as the Tennessee Valley Authority and those involved in major regional capital projects. Over his nearly 43-year career with the Chattanooga Times and Times Free Press, Flessner became a respected newsroom leader and was noted for providing in-depth business coverage, although industry analyst performance metrics like success rates or returns are not applicable to his editorial role. He began his journalism career with the Chattanooga Times before its merger, contributing to economic and corporate reporting for over four decades until his retirement in 2025. Flessner's role was journalistic and not regulatory, so standard financial analyst credentials are not part of his profile.

Dave Flessner's questions to Texas Ventures Acquisition III (TVA) leadership

Question · Q4 2022

Dave Flessner from the Chattanooga Times Free Press asked for historical context on the projected $12 billion in capital spending over the next three years, its purpose, and the expected impact on future debt levels. He also inquired about the status of TVA's pension fund and the factors contributing to its 77% funding level.

Answer

Chief Financial and Strategy Officer John Thomas clarified that the $12 billion is for capital projects and will be funded through operating cash flow and power volumes. He noted the projected $4 billion annual spend is higher than the previous peak of $3 billion and will cover fleet maintenance, ash remediation, and capacity expansion. He projected debt would increase by about $1 billion annually for a few years. Regarding the pension, he attributed the rise to 77% funding to steady progress and the positive impact of higher interest rates on the discount rate for long-term liabilities.

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