The Tennessee Valley Authority’s board of directors are currently tucked away as they discuss a potential electricity rate increase for customers across seven states, and are expected to vote on a final budget for the fiscal year beginning October 1.
According to The Associated Press, the main topic of conversation during the meeting will be whether TVA will charge wholesale power distributors more for electricity. Whatever the outcome of the TVA meeting, its actions will likely be passed on by the distributors to residential and business electricity customers in parts of Alabama, Georgia, Mississippi, North Carolina and Virginia.
History has shown that TVA is no stranger to introducing electricity rate increases. In 2011, the organization increased rates by 2 percent, and in 2012, it has also made pricing adjustments to account for unstable fuel costs, the media outlet stated.
With the majority of states still without energy deregulation laws, many retail energy providers are hiring workers to canvass residential areas in both regulated and deregulated states to raise awareness of the benefits of a competitive energy market, according to the Newton Patch. Often, such action is taken when large utilities propose rate hikes that affect residential and commercial electricity customers.