HUNTSVILLE, Ala. (AP) -- The Tennessee Valley Authority plans a single-digit increase in power rates under a budget approved by the board of directors.
The board for the nation's largest public utility voted unanimously to approve the $9.7 billion spending plan for the next fiscal year.
The plan accounts for expected increases in costs for fuel -- specifically coal -- and purchasing power from other sources during periods of high demand.
President Tom Kilgore told the board that the exact amount of a rate increase would be announced after he consults with various customers of the utility.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
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