UDATE 2/12/09 11:00 p.m.: KNOXVILLE, Tenn. (WVLT) -- Mike Duncan has also been named the new chairman of the TVA Board of Directors in a 4-3 vote. Duncan is the CEO of Community Holding Company in Inez, Ky. He is also the former chairman of the Republican National Committee.
Duncan replaces outgoing chairman William B. Sansom, who is the chairman and CEO of H.T. Hackney.
UPDATE 2/12/09 10:54 p.m.: KNOXVILLE, Tenn. (WVLT) -- The Tennessee Valley Authority has announced a 7 percent decrease in the the authority's fuel adjustment surcharge.
TVA says that means a $4 to $9 drop in your monthly bill that should be reflected in the bill customers receive in April.
KNOXVILLE, Tenn (WVLT) -- Cleanup costs of the fly ash spill in Roane County could cost between $525 and $800 million, according to CEO Tom Kilgore.
He estimated the dollar figures for the first time at the TVA Board meeting underway right now in downtown Knoxville.
TVA board member Dennis Bottorff says the board is concerned about how to pay for the cleanup. he questions whether or not insurance will cover some of it, whether TVA will have to sell some assets or bonds to pay overtime so ratepayers don't have to foot the whole bill.
TVA Board Chairman Tom Sansom says the community will not accept anything short of complete success from TVA.
Kilgore says the timetable to get the job completed is still uncertain as is the method by which the ash will be disposed of after its collected.
Kilgore also says that he will forgo any potential bonuses he could receive this year.
Volunteer TV's Gordon Boyd is at the board meeting. LIVE coverage today on Volunteer TV News at Noon.