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June 10, 2008


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NEWS

TVA to Boost Electric Rates, Local Consumers to See Slight Increase

By Linda Bolton
linda@mckenziebanner.com

The Tennessee Valley Authority plans to boost electricity rates July 1 to offset rising costs of coal and the lingering effects of the drought.

Rate for most local consumers will increase about 2 percent under the automatic fuel-cost adjustment made every three months by the federal utility, which supplies wholesale to most of Tennessee, Mississippi, Kentucky, Georgia, North Carolina and Virginia.

Lynn Compton, manager of Carroll County Electric, said the typical household will pay $1 to $3 more a month for electricity this summer under the increased rate.

“It is just an automatic fuel adjustment that will probably occur from now on,” said Compton. The manager noted adjustments in the rates are made, either up or down, four times a year – in January, April, July, and October.

The boost comes three months after TVA raised both its base rates and its fuel-adjusted rates on April 1, which was passed along to local customers. The April increase was TVA’s biggest single increase in more than two decades. In Carroll County, the total increase amounted to 11.68 percent.

However, Compton noted, TVA will not likely change its base rate for the next two years, even though quarterly adjustments will continue to be made.

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June 10, 2008