Electricity consumption declined in Chattanooga during the past year to a 23-year low as energy efficiency and the economic slowdown triggered by the coronavirus pandemic combined to more than offset a 25% increase in local electricity customers since the 1990s.
EPB power sales in the fiscal year ending June 30 dropped to the lowest level since 1997 even though the city-owned utility had nearly 37,000 fewer customers 23 years ago than it does today.
“In the last three months, we’ve been off the charts on the lower end on kilowatt hour sales,” EPB Chief Financial Officer Greg Eaves told the Electric Power Board on Friday.
The drop in sales, which EPB President David Wade said stemmed from energy conservation measures and cutbacks in commercial and industrial sales due to shutdowns during the pandemic, cut yearly electricity sales by nearly 5% from the previous year and generated a $4.2 million loss from the utility’s net income from power operations even though EPB continues to add more customers.
Most restaurants, retail stores and non-essential businesses closed or limited some operations during April and most businesses have yet to fully return to normal operations due to the pandemic.