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Electric Bills Will Be Going Up

tvaThe Tennessee Valley Authority will raise electric rates by 1.5 percent in October, marking the second consecutive year of such a rate increase.
TVA President Bill Johnson said the base rate increase is less than the rate of inflation and should cost the typical household about $1.70 more per month, or just over $20 more a year for the average residential electric user.
TVA will spend a record high $3.5 billion in new capital projects in fiscal 2015 to pay for completion of the Watts Bar Unit 2 reactor, new natural gas plants to replace the Paradise and Allen coal plants, and new scrubbers at the Gallatin Fossil Plant near Nashville, among other major projects.