Press Mention WATN / localmemphis.com June 6, 2020
Topical Mention
MLGW could save billions of dollars by leaving TVA
In this mention
A Siemens consultant study commissioned by Memphis Light, Gas and Water (MLGW) concludes the utility could save approximately $150 million annually—potentially reaching $3 billion by the 2030s—by leaving the Tennessee Valley Authority and purchasing power from MISO instead. The draft report was made public on Friday, with a virtual town hall scheduled for the following week and requiring approval from Memphis City Council and the MLGW Board of Commissioners. Implementation would take five years if approved.
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MLGW could save billions of dollars by leaving TVA
A consultant hired by the company made public a draft of their report.
MEMPHIS, Tenn. — Memphis Light, Gas and Water could save billions of dollars by telling the TVA to hit the road. A consultant hired by the company made public a draft of their report Friday morning.
MLGW has been studying this issue for the last year, when a committee was formed to look into the pros and cons.
According to Gary Vicinus of the Siemens consulting group, the company would save money by purchasing power from Mid-continent Independent Systems Organization (MISO).
According to the study co-author Gary Vicinus of Siemens, "If you convert to a dollar figure per year, the numbers reflect annual savings of about $150-million a year."
The total could reach $3 billion by the 2030s.
There will be a virtual town hall meeting, where you can read the report and ask questions, next Thursday. The Memphis City Council and the MLGW Board of Commissioners must approve it as well.
It would take five years for any changes to happen.