TVA Approves Rate Hike

If you think you’re paying too much for electricity, get ready to pay more. The TVA on Thursday announced that they are raising the price of what they charge for electricity. The TVA’s Board of Directors has approved a rate hike of 5.25%. Thi9s is on top of an increase last August of 4.5%. That means the TVA has increased rates by nearly 10% in the last 12 months.

Earlier this year, the TVA announced that they were expanding their power production in order to serve a growing populace in East Tennessee. At the time, the TVA said customers would not see a difference in their power bills. Now, with the 5% increase, the TVA estimates that your power bill will go up by an average of $5 a month.