Erwin Utilities Board of Directors will approve at its September meeting the Tennessee Valley Authority (TVA) rate increase that will become effective Oct. 1, according to a press release issued by the company. Unfortunately, Erwin Utilities cannot absorb this rate increase and must pass this through to our customers, said Erwin Utilities General Manager Lee Brown.
While we never like to raise rates, this small adjustment is necessary to meet our 2014 revenue requirements and operate our system safely and reliably, said TVA President and CEO Bill Johnson. We will also make critical capital investments to keep reliability high and meet environmental standards and contribute to paying down debt. The TVA fi scal year 2014 budget anticipates 4.6 percent lower sales year over year and is about six percent less than 2013, including capital expenditures of $3.3 billion for Watts Bar 2 nuclear plant and clean air controls at Gallatin Fossil
For the remainder of this article please see the September 10, 2013 edition of The Erwin Record.