TVA set to vote on rate increase

CHATTANOOGA, TN (AP) -- Tennessee Valley Authority board members will vote Friday on a rate increase that is expected to add between $4 and $7 to monthly bills for residential customers starting April 1.

TVA increased rates 6.1 percent in October 2003, 7.52 percent in October 2005 and 9.95 percent in April 2006 before a 4.5 percent decrease in October 2006.

TVA leaders say the increase is needed to invest in more power generation, including the completion of a second nuclear reactor at the Watts Bar plant in Tennessee.

The utility serves about 8.7 million consumers in Tennessee, Mississippi, Alabama, Kentucky, Georgia, North Carolina and Virginia.

Information from: Chattanooga Times Free Press, http://www.timesfreepress.com

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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