TVA Rates Going Up

TVA says it has included a 1.5 percent rate increase in its budget that takes effect in October.
The Tennessee Valley Authority says its board approved a $10.4 billion budget and the rate increase Wednesday. The budget keeps operating and maintenance spending flat.
TVA says the rate increase is modest and falls below the rate of inflation, amounting to about $1.50 more monthly for the average resident using 1,000 kilowatt-hours per month.
The board also approved $500 million in one-time money for TVA’s retirement system, which is in addition to the $300 million annual contribution.