Electricity rates in the Tennessee Valley will rise in May for the third consecutive month.
But a study released Monday suggests that Tennessee and Georgia consumers could offset such increases if new efficiency standards and incentives are adopted.
The Tennessee Valley Authority announced Monday that wholesale electricity rates will rise another 1 percent in May and likely will go up again in June and July under its monthly fuel cost adjustment. Next month’s increase will cost the typical residential electricity user nearly $1 more a month, according to TVA.
PDF: Energy efficiency in the South PDF: TVA Fuel Cost Adjustment By the numbers* $22 — Average monthly savings for residential consumers in Tennessee from aggressive energy efficiency program* $26 — Average monthly savings for residential consumers in Georgia from aggressive energy efficiency program* 15,600 — Additional jobs for Tennessee from aggressive energy efficiency program* 32,200 — Additional jobs for Georgia from aggressive energy efficiency programSource: Georgia Institute of Technology and Duke University study
But researchers from Georgia Tech and Duke University estimate that consumers could still cut their electricity costs if the federal government adopts stricter energy efficiency standards for homes and appliances and offers incentives for individuals and businesses to undertake more conservation measures.