The three commissioners who run the Tennessee Valley Authority face a tough problem. The seven-state TVA region is growing so fast that it needs $150 million a year in new power facilities. But only half of that expansion can be financed by TVA's revenues. And Congress, which has refused for two years to appropriate the difference, seems unlikely to change its mind even though it is now a Democratic Congress. Last week the commissioners submitted to Congress a plan that would 1) get them the additional money needed for expansion, and 2) put TVA on the same operating...

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