Business
9:24 am
Thu August 16, 2012

TVA board to decide budget, power rates

Electricity rates for Tennessee Valley Authority customers in seven states, including Kentucky and Tennessee, are on today’s agenda for the utility's board of directors.  

The board is meeting in Knoxville and will vote on the budget for the fiscal year beginning October 1st.  Part of the financial plan will be deciding whether to raise or lower the price wholesale power distributors pay TVA for electricity. The utility’s rate actions are usually passed on by the distributors to residential and commercial customers.  TVA also makes pricing adjustments during the year as fuel costs fluctuate.  The utility increased rates 2 percent last year.