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Article: Tennessee Valley Authority to Raise Residential, Commercial Electricity Rates.
- Article from:
- The Knoxville News-Sentinel (Knoxville, TN)
- Article date:
- August 28, 2003
CopyrightCOPYRIGHT 2003 The Knoxville News-Sentinel. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rebecca Ferrar
Aug. 28--Despite objections from citizens, distributors and special-interest groups, the TVA board of directors Wednesday approved a 7.4 percent rate increase for residential and commercial customers and a 2 percent rate decrease for 1,500 industrial customers.
The increase is effective Oct. 1 and will last for 10 years.
The adjustment will raise $365 million a year, which TVA says it needs to pay for installing expensive air pollution control equipment at its coal-fired plants.
"The cost of clean air is higher than anyone estimated it to be," said TVA Chairman Glenn McCullough Jr. "This 10-year environmental ...