TVA increases electric rates

CLAY COUNTY-Officials from Tri-County Electric announced this week the cost of purchasing electricity from the Tennessee Valley Authority (TVA) increased by 2% as of the first of this month and they said the increase would be passed on to residents here.

“The primary reasons given by TVA for the rate increase are to assist TVA in covering a $234 million shortfall in its fiscal 2012 budget; increase generation to meet increasing demand across the Tennessee Valley; and ensure that TVA meets federal environmental regulations,” a news release from Tri County said.  “The increase represents an additional $1.60 for every 1,000 kWh on a residential electric bill.”

According to information provided by the U.S. Energy Information Administration, local rates are currently 23% below the national average and Tri-County Electric will not receive any additional revenue from TVA’s increase according to Executive Vice President and General Manager Paul Thompson.

“The Board of Directors, management and staff are working hard to hold costs as low as possible,” Thompson said.  “While we have no choice but to pass TVA’s increase through on our electric bills, Tri-County Electric is not raising rates for any member-owner.”

Tri-County Electric encourages member-owners to reduce energy usage by following tips on their website at www.tcemc.org or visiting www.energyright.com where members can also obtain a free energy kit by completing an energy right Home e-Valuation.

Tri-County Electric also participates in the In-Home Energy Evaluation (IHEE), a great tool for those planning to make energy improvements to their home, and two demand reduction pilot programs.  Levelized Billing remains one of the easiest and painless ways for members to budget for the electric bill by using a rolling twelve month average with no “catch-up.”