TVA Drops Rates

Knoxville, TN – Tennessee Valley Authority officials say electric rates will drop another 1.5 percent on November first. This will mean a savings of 50 cents to two dollars on the monthly residential bills for the nearly 9 million TVA customers. The change reflects a continuing decline in natural gas and coal prices and more abundant hydroelectric generation because of recent rain. TVA began the fiscal year October first with an eight percent general rate increase. But because of reductions in fuel adjustment charges, customers are still paying less than a year ago.