KNOXVILLE, Tenn. (AP) - The Tennessee Valley Authority is boosting its wholesale power rate by 2.1 percent in May, in anticipation of increased summer demand.
The rate hike is expected to increase residential utility bills by between $1 and $3 a month.
The Knoxville News Sentinel reported TVA announced on Friday that it will raise its total monthly fuel cost from 2.163 cents per kilowatt-hour to 2.311 cents per kilowatt-hour for the billing period starting May 1. Utilities served by TVA typically pass the expense on to their customers.
The utility also increased rates in April by 3 percent, adding an estimated $2 to $4 to average monthly residential power bills.
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