Recession cuts EPB power sales

The economic slowdown is projected to cut electricity sales in Chattanooga by 2 percent in the fiscal year that ends June 30, EPB Chief Financial Officer Greg Eaves said today.

“Residential power sales have remained stable, but we have definitely seen a decline in industrials consumption because of the economy,” Mr. Eaves said.

This year’s drop in power sales for EPB is the biggest since 2003, when milder temperatures and economic conditions reduced power sales that year by 2.3 percent, Mr. Eaves said.

Last week, EPB directors adopted a budget for fiscal 2009-10 calling for a modest 1.2 percent increase in power consumption in Chattanooga.