Residents of this region of the Southeast are dependent upon the Tennessee Valley Authority for electricity. TVA must cover its costs by passing them on to customers in our monthly power bills. So it's unfortunate but understandable that TVA will raise electricity rates 2 percent, beginning Oct. 1.
The increase is designed to generate $234 million needed to balance TVA's 2012 budget. The weak economy as well as the need to purchase replacement power after tornadoes damaged TVA facilities is to blame.
What will that mean on our local bills? TVA says the average residential energy bill will rise about $1.60 each month.
Trying to put the bad news in perspective, TVA President and CEO Tom Kilgore said, "That's about half the price of a gallon of gas."
We naturally don't like to pay more for electricity. But we are glad to have an abundant and reliable supply of energy to meet our home and business needs.