published Thursday, August 16th, 2012

TVA board to decide budget, power rates

KNOXVILLE, Tenn. (AP) — Electricity rates for Tennessee Valley Authority customers in seven states are on the agenda for the utility's board of directors.

The board meets Thursday in Knoxville and will vote on the budget for the fiscal year that begins Oct. 1.

Part of the financial plan will be deciding whether to raise or lower the price that wholesale power distributors pay TVA for electricity. TVA's rate actions are usually passed on by the distributors to residential and commercial customers in Tennessee and parts of Alabama, Georgia, Kentucky, Mississippi, North Carolina and Virginia.

TVA increased rates 2 percent last year. It also makes pricing adjustments during the year for fluctuating fuel costs.

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