The South Reporter
Renick gives keynote speech at luncheon
By Sue Watson, Staff Writer
Ashland's favorite son and chairman of the board of directors of the Tennessee Valley Authority, Bill Renick spoke for the second time to the Byhalia Chamber luncheon June 26. The last time he spoke at the chamber luncheon was 20 years ago while he was serving as executive director of the Marshall County Industrial Development Authority.
Honored and humbled, Renick said for a person from a small town like Ashland to be appointed as chair of the TVA Board of Directors is something that “don't normally happen to people like me.”
The day he walked across the bridge to the Northcentral community building to speak and have lunch prepared by Sheriff Kenny Dickerson 20 years ago is seared in his memory.
“What really sticks out in my mind is a prophesy I made that day, so I stand here today as a prophet – what I could see was going to happen to Marshall County and to the Town of Byhalia,” he said.
“A deal to finance construction of I-269 had just closed, and the first slab was being poured in Chickasaw Trail Industrial Park.”
H&M Construction had bought 100 acres and sold 100 acres of property on the pig trail, Mt. Carmel Road, to be used by ASICS.
General Electric from Batesville flew over the site in its helicopter to video the site for the client who chose the Trail because of its proximity to the Memphis International Airport and the University of Memphis, he said.
“I said, `we got a lot of hooks in the water. We're getting a lot of nibbles,' “ he said.
The deal was sealed because of partnerships between Marshall County, Byhalia and the Tennessee Valley Authority.
“Partnership is one of the mainstays of TVA,” he said.
TVA history Renick reviewed how president Roosevelt in 1933 started work on the TVA Act as a means of controlling erosion and also to provide electric power to rural communities. Only two in twenty households had electricity at the time. Tupelo was the first municipality in Mississippi to buy power from TVA in 1934.
The co-op model was already established by farmers so TVA was patterned similarly. Corinth was the first to establish an electric power cooperative in Mississippi and the cooperative model was transformative in rural Mississippi, he said.
The concept drew upon the Three E's – energy, economic development and environment, Renick said.
“We've seen remarkable growth all over the seven states served by TVA,” Renick said. “TVA is the largest public utility – serves 10 million customers, has 16,000 miles of transmission lines, has 1100 team members and provides power to 153 distributors.
TVA is now investing in new infrastructure to increase capacity and will rely on nuclear power generation in the future.
TVA under attack
“We are literally under attack from forces who have no business being in the electricity generation business,” Renick said, referring to the recent removal of two TVA board members by the Trump administration.
Five board members are required to have a quorum on the nine-membered board of directors.
“This is the first time in TVA history the board of directors does not have a quorum,” Renick said. “We're going to have to fly the plane (TVA) while we build it (the board). The public power model is at risk.”
He said Mississippi's two senators and representative Trent Kelly are championing for TVA and the public power model. He said U.S. Senators Cindy Hyde-Smith and Roger Wicker “stood their ground for the public power model.”
TVA has plans to spend $6 billion the next five years to build a small nuclear reactor on the Clinch River in Tennessee, Renick said.
“The new technology will produce 300 megawatts of electricity, he said.
On a normal day this time of year, TVA generates about 22,000 megawatts, but when the temperature gets up, the demand for electricity may climb to 32,000 to 35,000 megawatts.
“Sometimes, things break down,” he said. “Both units went down at the Sequoia nuclear plant recently.
When we got to these peaks, we had to buy 5,700 megawatts at $175 per megawatt from somebody else.”
He said the 300 megawatt small nuclear plant will be wonderful and will be built by 2032 at a ticket price estimated at $6.8 billion.
Renick said Amplify Cell Technology is investing in a $2 billion battery manufacturing plant in Marshall County.
TVA generates about 12,000 megawatts from natural gas and fuel oil, generating enough to power 7 million homes. Natural gas generation is used to ensure reliability and grid stability and has increased significantly to account for about 20 percent of the TVA's generation porfolio, according to Internet sources.
“We really depend on nuclear and hydro (generation),” Renick said.
Solar and wind generation helps fill in the gap in capacity demand.
Renick said TVA maintains 1,100 miles of shoreline on the Tennessee River and there are lots of economic spinoffs from businesses that are established along the banks.
“Not only does the river generate electricity, there is about $12 billion a year of impact off the Tennessee River,” he said..
Change inevitable
Renick said there is big change taking place in the areas of AI (Artificial Intelligence) and cryptocurrency, as examples.
“People like me born in the 1950s have seen so much change,” he said. “We have to stay true to our mission. It's mind boggling at all the things going on in the world today.
“We have to stay true to TVA's mission.”
It was Nebraska Senator George Norris who helped write the TVA Act and push the TVA Act through the Congress in 1933.
“He found a champion in President Roosevelt and we are going to stay true to our mission,” Renick said. “Dependable power is our mission – to get power to homes, schools, churches. We must protect the environment and provide assistance to economic development.
“Northcentral and Byhalia are examples of partners. TVA is proud to be a part of that.” Renick ended with Hebrews 13:8, the Holy Bible.
“Jesus Christ is the same yesterday, today and tomorrow. That's not going to change,” Renick said.
Brief Q.&A.
Pat Woods asked if Renick thinks new people will be named to the TVA board of directors by the end of the year.
“I don't know what the end game is,” Renick said. “We have six openings, three openings at the end of last year and three nominees.”
He said the president of the United States has to nominate a person to serve on the TVA board and they have then to be confirmed by the Senate.
Hyde-Smith recommended Renick to be as chairman, and insisted the someone from Mississippi be appointed to the TVA board.
Renick said he doesn't expect anyone to be confirmed by the end of the year to serve on the TVA board.
“You have to be confirmed by a Senate that is completely divided,” Renick said. “I'm not optimistic on getting more on the board by the end of the year.”
He said two of the board members can live outside the 7-state service area.
He said he does not know why TVA lost its quorum, that the answer lies in the White House.
Currently, a board member is from Mississippi, from Kentucky and from Tennessee.
He said the TVA Act requires a request for a 100 megawatt facility be approved.
Laura Taylor, executive director of the Byhalia Chamber, asked what TVA does without a quorum.
Renick said the Act says TVA can do some things without a quorum to provide continuity of service.
He said it would require a quorum to start a small nuclear reactor.
TVA's operating budget is $13 billion, he said.
“Are there things we can do to assist?” asked Marti Markham.
Renick said the Mississippi delegation to Washington, D.C., is responsible for recommending people to serve on the board.
Three more are to be nominated from Tennessee and one more from Alabama, he said.
“Pray for TVA,” Renick said, “and for the United States of America. “Pray for TVA for how this whole thing shakes out.”
State Rep. Bill Kinkade asked for an update on HSUD's (Holly Springs Utility Department's) ability to provide power.
Renick said TVA is going to do everything it can to help HSUD.
“But you have to be willing to accept help,” he said. He said he expects TVA to get an invitation from the new board to ask for help from TVA.
“I'm optimistic about Holly Springs and how it's going to shake out,” he said.