The Tennessee Valley Authority Board of Directors took decisive action on Thursday to approve $15 billion in investments over the next three years to build additional generation and upgrade the existing system to ensure the region continues to benefit from affordable, reliable power. TVA is focused on meeting growing electricity demand while maintaining energy security and moving to a net-zero carbon future.
To ensure the region has the energy it needs to meet growing demand and economic development, the TVA Board unanimously approved a 4.5% increase in the effective rate. That translates to an average increase of about $3.50 on a typical residential energy bill each month.
The need for funding to build new generation is not unique to TVA. Even with a rate adjustment, TVA’s energy costs remain lower than 70% of the nation’s top 100 utilities.
