With help from Mother Nature, electric bills in the Tennessee Valley will get a bit cheaper next month.
The Tennessee Valley Authority will cut its fuel cost portion of its wholesale power rates next month to the lowest April level in six years, helping to save the typical Chattanooga household $1.52 on their next monthly electric bill.
Rainy weather and milder temperatures have combined so far this year to boost generation from TVA’s cheapest power source – its 29 power-generating dams on the Tennessee River and its tributaries – and to help lower the average cost of natural gas.
“This is the lowest April fuel cost since we started the current calculations in 2013,” TVA spokesman Scott Brooks said. “The overall system average fuel rate for April is approximately 10 percent lower than the three-year average April fuel cost. This is primarily due to expectations for higher hydro generation for April combined with mild weather leading to lower sales in February.”
Last month was the wettest February on record in the Tennessee Valley with nearly twice the normal rainfall for the month.