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Huntsville Electricity Rates Cut

By: Huntsville Real Estate Expert Mike Manosky On November 13, 2008

Finally, some good news! It has just been announced by the Huntsville Times that the Tennessee Valley Authority will cut electricity rates by about 6 percent starting January 1.  This rate cut reflects lower fuel costs and offers some relief for customers after a major rate increase earlier this year.

The savings should equal about $4 to $8 a month for the federal utility’s 8.8 million residential consumers in Tennessee, Kentucky, Alabama, Mississippi, Georgia, North Carolina and Virginia.

The change reflects a 25 percent reduction in TVA’s fuel cost charge, which is adjusted quarterly.

The reduction will help offset an across-the-board 20 percent rate hike enacted Oct. 1. It was TVA’s highest increase in three decades and blamed largely on rising fuel costs for its power plants and power purchased from others.

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