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December 30, 2008


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NEWS

Electric Rates to Decrease 5.5 Percent in January

Carroll County Electric Department customers will see a 5.5 percent decrease in their utility bills for January, according to Mark Burden, Carroll County Electric office manager. The new rate will be effective for utility meters read after January 1, 2009, as a result of lower power costs from TVA.

TVA recently announced a 6 percent fuel cost adjustment (FCA). Burden noted that 6 percent on the wholesale rate relates to approximately 5.5 percent on the retail rate.

The second quarter FCA will decrease from 9.325 cents per kilowatt-hour to 8.818 cents per kilowatt-hour, said Burden.

Because the fuel cost adjustment is a per kilowatt-hour charge, amounts that consumers will save depends on the amount of energy used. Though savings will vary, local residential consumers can expect a decrease ranging from $5.07 for 1000 kilowatt-hours to $7.61 for 1500 kilowatt-hours.

“Recent reductions in purchased power and natural gas prices have helped reduce our actual costs and forecast for the second quarter of 2009,” said TVA Chief Financial Officer Kim Greene.

“Unfortunately, coal prices remain significantly higher than they were a year ago, and sustained drought conditions across the Tennessee Valley have cut TVA’s hydro generation by more than 50 percent, preventing TVA’s fuel costs from dropping further, Greene added.

Greene said economic conditions led to a decrease in wholesale power sales from July through September. That also helped lower the fuel cost adjustment by reducing TVA’s reliance on its most expensive power sources.

About 60 percent of the utility’s power supply comes from fossil fuels, primarily coal, along with oil and natural gas.

Under current conditions, Burden said he anticipates another reduction in TVA’s third quarter rates, which will be made available in April, 2009.

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December 30, 2008