The Tennessee Valley Authority Board of Directors on Thursday made Mike Skaggs its permanent chief executive officer, keeping the power supplier for North Alabama under a nuclear veteran who spent part of his career at Browns Ferry Nuclear Plant near Athens.
Skaggs had led TVA on an interim basis since April, when the board named him to replace the retiring Don Moul.
“Mike has brought stability to TVA, and he has restored trust. Trust with local power companies, elected officials, industry leaders and our employees – he really has brought everything together,” said TVA Board Chair Mitch Graves.
“Mike has also helped provide process and strategic planning, always with TVA’s mission and our 3 E’s – energy, environmental stewardship and economic development – as the focus. We are grateful for everything Mike has done this year and appreciate his unwavering commitment to TVA and the people of the Valley region.”
Skaggs said he came out of retirement “because I care deeply about TVA and TVA employees, and I’m excited to continue working together to serve the Valley region.”
“We’ve made good progress in six months, tackling some key issues and areas to help us get back to the basics of our mission,” Skaggs said.
Alabama holds one seat on TVA’s nine-member board. Randy Jones of Guntersville, an insurance agency founder and former chairman of the Guntersville Electric Board, was confirmed by the U.S. Senate last December and sworn in in January.
RELATED: Alabamian Randy Jones of Guntersville confirmed to serve on TVA Board of Directors
Skaggs’ first board meeting as interim CEO was held in Jones’ hometown in May, the first time the board had met in Marshall County. Alabama House Speaker Nathaniel Ledbetter (R-Rainsville) greeted the directors in person.
“North Alabama is projected to grow 33% in the next 10 years,” Ledbetter said.
North Alabama leaders used the public listening session before that meeting to press TVA for a natural gas line serving Athens, Huntsville and Scottsboro and a gas-fired generating plant in Jackson County. Skaggs did not rule it out.
“We have to stay focused on the demand as it arises,” Skaggs said after the meeting.
Jones said in June that TVA is developing a new rate structure for incoming data centers.
Thursday’s announcement also splits the jobs of CEO and president. The CEO will advise the board on strategy and major capital decisions. The president will run TVA’s day-to-day operations and report to the CEO and the board.
Skaggs gave that job to Chief Financial Officer Tom Rice, who will serve as president and chief financial officer beginning Monday.
“Tom is a trusted leader at TVA, and as president, he will ensure we stay aligned around the right priorities – energy, economic development, environmental stewardship – to deliver today and for generations to come,” Skaggs said.
Rice has been CFO since January 2025 and oversees more than $14 billion in annual revenue. TVA plans to invest more than $13 billion in capital projects over the next three years, and its retail rates are lower than 80% of the nation.
“Every day, our employees do amazing work, and I believe this structure will further support collaboration, alignment and transparency as we build a stronger and more sustainable TVA,” Skaggs said.
Grayson Everett is the editor in chief of Yellowhammer News. You can follow him on X @Grayson270.
