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Friday, August 21, 2009
TVA Budgets Rate Increase
Approval of the Tennessee Valley Authority’s 2010 budget Thursday included an 8% rate increase.
The $12.5 billion spending plan calls for $10.2 billion in operating expenses and $2.3 billion in capital investments.
The board projects a $7.2 billion shortfall for 2010 through 2012. As a result board members put into place $1.9 billion worth of budget cuts. That coupled with $2.8 billion additional borrowing is expected to offset some of the increases passed on to consumers. A fuel cost adjustment will also result in some decreases for consumers during the month of October.
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