TVA to drop fuel charge again in November - WMC Action News 5 - Memphis, Tennessee

TVA to drop fuel charge again in November

KNOXVILLE, Tenn. (AP) - Tennessee Valley Authority says its electric rates will drop another 1.5% on Nov. 1.

TVA announced the latest change to its monthly fuel adjustment charge on Tuesday.

This will mean a savings of 50 cents to $2 on the monthly residential bills for the nearly 9 million people receiving TVA power in Tennessee and parts of Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.

The change reflects a continuing decline in natural gas and coal prices and more abundant hydroelectric generation because of recent rain.

TVA began the fiscal year Oct. 1 with an 8% general rate increase. But because of reductions in fuel adjustment charges, customers are still paying less than a year ago.

This will mark the fifth drop in the fuel adjustment charge this year.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly