The Tennessee Valley Authority said Thursday it will partner with local power companies by providing $2 million in matching funds to support local initiatives that address hardships created by the COVID-19 pandemic.
TVA is creating a COVID-19 Community Care Fund will help amplify work being done by nonprofit organizations to support families and businesses affected by pandemic conditions.
Local power companies like EPB in Chattanooga will have the opportunity to identify organizations for which they will seek matching funds for existing or new community initiatives.
"In the spirit of public power, we are honored to partner with local power companies to address the unprecedented challenges facing those we serve," Jeannette Mills, TVA executive vice president and chief external relations officer, said Thursday in an announcement of the new program. "TVA has a mission of service to make life better for the people of the Valley, and providing these funds to address immediate needs is one way we can help ease the burdens on families and communities."
Last month, TVA announced that it was extending $1 billion of credit support to local power companies to give power cooperatives and municipal utilities more flexibility for their customers in paying electric bills due to the economic upheaval caused by the coronavirus.
TVA said it is also working to identify additional potential funding from federal, state, and local government stimulus programs to help mitigate the impacts of COVID19 in the Valley.