East Tennessee Light and Power Company
East Tennessee Light and Power Company (ETLPC) was a utility company which operated in East Tennessee and western North Carolina from the late 1920s until its purchase by the Tennessee Valley Authority in 1945. ETLPC evolved into a large corporation through its purchase of a number of smaller local and regional utility companies and through its 1941 merger with Tennessee Eastern Electric Company (TEEC). Previous to the 1941 merger ETLPC had acquired the common stock of Tennessee Realty Company, an affiliate of TEEC.
Originally incorporated in Virginia as the Tennessee Central Service Company in March 1927, the company changed its name to East Tennessee Light and Power Company (ETLPC) in October 1929. On June 1, 1929, ETLPC acquired the property and assets of the following companies: Bristol Gas and Electric Company in Virginia; Newland Light and Power Company, and Elk Park Electric Light and Power Company in North Carolina; Watauga Power Company, Bluff City Electric Light and Power Company, Erwin Electric Light and Power Company, Butler Light and Power Company, and Roan's Creek Light and Power Company, in Tennessee. ETLPC operated in the area at the junction of the states of North Carolina (one county), Tennessee (four counties), and Virginia (two counties). The principal cities served include Bristol, Virginia; Bristol, Tennessee; Elizabethton, Tennessee; and Erwin, Tennessee.
The Tennessee Eastern Electric Company (TEEC) was incorporated in June 1912. Soon after incorporation, the company acquired the property and assets of Watauga Electric Company, Greeneville Electric Company, and Jonesborough Electric Company. TEEC provided electricity to the Tennessee counties of Washington, Greene, Unicoi, Carter, and Sullivan. The principal cities included Johnson City, Greeneville, and Jonesborough.
Both ETLPC and TEEC operated as public utilities engaged in the production, purchase, transmission, distribution and sale of electric energy. While all of TEEC's operating revenue was derived from electric operations, electric energy comprised 92% of ETLPC's gross operating revenue. The remaining eight percent was derived from the purchase, transmission, distribution and sale of gas.
In 1929 ETLPC purchased the common stock of the Massachusetts corporation, Tennessee Eastern Electric Company. In 1939 a plan was submitted to the Securities and Exchange Commission for the merger of ETLPC with TEEC. The merger was accomplished on March 28, 1941, when TEEC was officially dissolved. East Tennessee Light and Power Company continued operations as a public utility until purchased by the Tennessee Valley Authority in 1945.
Incorporated in December 1922, the Tennessee Realty Company substantially operated for the benefit of its affiliate, TEEC. Operations included: buying and selling real estate, principally land and easements; renting property owned by the company; and holding property for its affiliate. The company owned or had options on real estate along the Holston, Watauga, and Nolichucky Rivers in the counties of Sullivan, Washington, Greene and Hawkins. In July 1936, ETLPC purchased from TEEC the entire common stock of its affiliate, Tennessee Realty Company. The parent company, ETLPC, received all revenues from, and paid all operating expenses of, Tennessee Realty Company.