Electric rates up during summer

Electric rates up during summer

May 18th, 2011 by Staff Report in Business Around the Region

After a couple of months of falling electric rates, the Tennessee Valley Authority will boost its fuel cost adjustment again in June, boosting power rates by 0.3 percent. For the typical Chattanooga residential customer who uses 1,471 kilowatthours a month of power, the latest increase will add 29 cents to the monthly bill, according to EPB spokeswoman Lacie Newton.

EPB directors will review a budget plan Friday that could soon boost local power rates still higher as EPB seeks to recover from costly storms.

TVA also could be forced to make other fuel cost increases this summer, in part to offset the loss of at least three weeks of nuclear power generation because of damaged transmission lines at the Browns Ferry Nuclear Plant, TVA spokesman Scott Brooks said.