TVA: Electric rates up for summer months

TVA: Electric rates up for summer months

May 17th, 2011 in Local - Breaking News

TVA Offices in Chattanooga, Tennessee

After a couple of months of falling electric rates, the Tennessee Valley Authority will boost its fuel cost adjustment again next month, boosting June 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 this spring. 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 due to damaged transmission lines to the Browns Ferry Nuclear Plant, TVA spokesman Scott Brooks said.