Press Mention Chattnooga Times Free Press August 21, 2024
Topical Mention
TVA to boost electric rates this fall by biggest amount in a decade
In this mention
The Tennessee Valley Authority announced a 5.25% wholesale rate increase effective October 1, 2024, the largest increase in 16 years. The hike, driven by higher inflation, interest rates, and power demand, will add approximately $4.35 monthly to typical power bills for customers of EPB and 152 other local utilities serving 10 million people across TVA's seven-state region.
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TVA to boost electric rates this fall by biggest amount in a decade
Higher inflation, interest rates and power demand push up price of electricity another 5.25% in October following 4.5% rate hike last year
August 22, 2024
by
Dave Flessner
FLORENCE, Ala. — The Tennessee Valley Authority will raise its wholesale rates for electricity by the biggest amount in 16 years this fall.
TVA directors voted Thursday to raise wholesale power rates by 5.25% on Oct. 1, adding $4.35 a month to the typical power bill from EPB and the other 152 local utilities that distribute power to the 10 million people in TVA's seven-state region.