TVA rates to drop 1.5 per cent
TVA spokesman Scott Brooks said the average residential customer in the Tennessee Valley should save $1 to $2 in February.
In Chattanooga, EPB estimates that an average household using 1,461 kilowatt-hours of electricity will save $1.70 in February.
“We’re expecting temperatures to moderate in February and be back near normal,” Brooks said today. “That should reduce the amount of the more expensive purchased power we buy on the market.”
TVA adjusts its rates monthly to reflect changes in what it pays for coal, natural gas, nuclear fuel and power purchased from other utilities.
Even with next monthÂ’s reduction, however, wholesale power rates will still be up by more than 20 percent from February 2009 because of changes in the fuel cost adjustments. Rates still are below the peak reached in October 2008.
TVA has not changed its base rate for operations and maintenance since October 2009, Brooks said.
Related News
DOE Announces $34 Million to Improve America?s Power Grid
WASHINGTON - The U.S. Department of Energy (DOE) has earmarked $34 million for 12 innovative projects across 11 states to bolster and modernize the nation’s power grid.
Under the Grid Overhaul with Proactive, High-speed Undergrounding for Reliability, Resilience, and Security (GOPHURRS) program, this funding is focused on developing efficient and secure undergrounding technologies. The initiative is aligned with President Biden’s vision to strengthen America's energy infrastructure, thereby creating jobs, enhancing energy and national security, and advancing towards a 100% clean electricity grid by 2035.
U.S. Secretary of Energy Jennifer M. Granholm emphasized the criticality of modernizing the power grid to facilitate a future…
