KUB says a 20% savings from TVA will be passed automatically on to the customer. (Source: Kyle Grainger, WVLT)
KNOXVILLE, Tenn. (WVLT) -- It's been a wet summer, and TVA says all the rain has helped make generating power cheaper.
TVA spokesperson Scott Brooks says TVA is generating 44% more electricity than it was a year ago. An above average year for rainfall means more water has been pumped through TVA's dams, producing more power.
"The rain is certainly a good thing for the power rates because it helps us generate more hydro production and we can pass that on," said Brooks. "We're saving on total fuel cost, which is the cost we pass on for what we pay for fuels like coal and natural gas and power we purchase from other companies."
Hydro power is the cheapest way to produce electricity.
KUB says the average person should see about a $2.64 drop on your power bill in October. It is up to individual providers to decide what to do with the savings.
"Our costs normally go up this time of year, but the past 3 months our cost has gone down and again we're at the lowest cost for total monthly fuel cost than we have been since march of 2012," said Brooks.
The savings will be given to providers in September.