A bill to amend the Tennessee Valley Authority Act of 1933 with respect to the determination of terms of sale of electric power.

Amends the Tennessee Valley Authority Act of 1933 to require that all terms of sale of electric power shall be proposed by the Board of Directors of the Tennessee Valley Authority and become effective only upon approval by the Federal Energy Regulatory Commission. Authorizes the Corporation to modify any terms of sale, but requires confirmation and approval of such modifications by the Commission.

Sets forth procedures applicable to the confirmation and approval of proposed terms of sale of electric power, including provisions for public notice, hearings, investigations, and proceedings undertaken by the Corporation and/or the Commission.