Under the new agreement, KUB will receive 290 MW of new solar resources through TVA`s GREEN Invest program, which will enable businesses, industrial energy consumers and local electricity suppliers to purchase electricity from new renewable resources at the supply level. As part of the agreement, TVA Kub will provide a 3.1% rebate, which will save the municipal services company $9.5 million per year and support the Knoxville project to build its own 212-megawatt solar farm, which would provide approximately 8% of the KUB`s annual electrical load. Each spring, EA and TVA negotiate the benefits plan. It has been a very difficult year. It was a very contentious fight and we reached agreement on all but one area. TVA announced on Monday that it was offering a more flexible sales contract to local electricity companies such as Chattanooga`s DerEPB, which have signed long-term contracts to buy most of their electricity from VAT. After an environmental assessment and public audit this year, TVA said its distributors will now allow its distributors to build their own solar farms or other power generation facilities to handle some of their electricity load. A little information: Our contract says that now is the deadline to determine payment for the next 3 years. That is not what happened. As recently as yesterday morning, EA and TVA only agreed for the first year (1). The remuneration of the performance budget for the 2019 financial year is 3%. We will continue negotiations on the setting of the wage budget for years two (GJ20) and three (GJ21).
And there are some things that we haven`t reached an agreement on yet. Knoxville Utilities Board, a utility company in the City of Knoxville, Tenn., has signed a second solar-generated electricity agreement with the Tennessee Valley Authority as part of a program to promote the development of new renewable energy generation facilities in the Tennessee Valley. One of the Tennessee Valley Authority`s largest customers has signed a 20-year power contract with the federal supplier and will build another large solar farm in East Tennessee. Just a reminder, your goals should always be something you can control and that is achievable, specific and relevant to your work. Goals should, if possible, be measurable. Please spend the time needed to set good goals. Setting good SMART goals at the beginning of the year is important for the measurement to end without any problems. You will find the goal process in our collective agreement in S-12.
Your line manager should soon indicate the objectives of your Business Unit that you can use for the common definition of your individual goals to support your business unit. However, you should check S-12 and prepare now for this process. There is a separate dispute resolution process for objective issues. Your union designated Rep (DUR) can help you if necessary. Also, many of our men are new to VAT; If you need help with the goal, please contact your ON on site for help. In 2009, TVA signed power purchase agreements with cVP Renewable Energy Co., headquartered in Maryland, and Chicago-based Invenergy Wind LLC for electricity generated from wind farms.  I`m sure you saw TVA Today on opioid abuse yesterday. TVA and several of its trade union partners have joined forces to create a new source of assistance in the fight against opioid abuse. The same plan was submitted to the EA.
However, we have some additional questions and concerns about the new programme and we have not reached a full agreement with VAT.