TVA Exec Gets Raise

Nashville, TN – The nation's biggest public utility is raising its CEO's compensation by nearly a half million dollars, a month after its largest electric rate hike in three decades. Tennessee Valley Authority's board approved President Tom Kilgore's salary increase from 650,000 dollars to 850,000 dollars per year, with a total possible compensation package of 3-(point)-3 million dollars. Kilgore told board members at a meeting yesterday TVA rates could go down in January because of decreasing fuel costs. Kilgore did not provide any details.