Nashville, Tenn. – The NES board has voted to hold the line on rates it charges. However, TVA’s rate increase will be passed on to customers.
“The TVA increase is too large for NES to absorb,” says Board Chairman Leo Waters. “It is estimated that NES will pay almost $52 million more per year to purchase power from TVA. The board is comfortable that NES is in sound financial condition at this time, and we did not feel the need to increase our own rates.”
TVA announced a 7% wholesale rate increase and an increase in the Fuel Cost Adjustment (FCA) of 5%, both effective April 1, 2008. TVA needs these increases to build new generating facilities to meet growing energy demand and to make up for the loss of hydro generation brought on by severe drought conditions across the area.
To help combat these increases, customers can complete a free energy audit to learn how to save on their electric bills. You can take the survey online or request a mail-in audit. When you complete the survey, you will receive a free energy conservation kit delivered to your door. The kit contains:
- 2 compact fluorescent bulbs
- Outlet & light switch gaskets
- Filter whistle
- 2 faucet aerators
- Hot water temperature gauge
- Home thermometer
- How to Save brochure