TVA

21 08 2008

This isn’t good. No, I’m serious.

With cost pressures stretching its resources, the TVA Board today approved a 2009 budget that includes $12.613 billion to cover operating expenses and $2.088 billion in capital investments.

As previously announced by TVA, the price of TVA electricity will increase in order to cover increased fuel costs and related expenses. The factors are forcing a total average increase of 20 percent in wholesale power rates effective Oct. 1.

While amounts will vary across the Tennessee Valley, consumers will see an average increase of $12 to $15 per 1,000 kilowatt-hours.

So what does this mean?

You guessed it. More of your money is going to TVA to cover operating expenses and capital investments.

I guess we all need a group hug.

Updated: More from Angela.

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