Chattanooga, TN (WOKI) Electricity will soon cost more in East Tennessee.
Tennessee Valley Authority’s directors approved a 4.5% electricity rate increase Thursday in addition to $15 billion in investments for building additional electricity generation capacity and upgrading its power grid.
TVA officials say the agency expects demand to increase by 30% over the next 10 years and are working to add 3,800 megawatts to the system.
The rate increase amounts to an average of $3.50 a month on a typical monthly residential energy bill. Prior to this increase, TVA’s base power rates had remained flat for four years.
For the complete news release from TVA and to learn more, click here.
