As your trusted electric cooperative, our mission is to provide you with reliable and affordable electricity while maintaining the financial stability and sustainability of our operations. We strive to keep you informed about any changes that may impact your service and rates.
Since 2019, we have been passing through a partnership credit from the Tennessee Valley Authority directly to our members. This credit has been a benefit to you, helping to lower your overall electricity costs. However, beginning October 1, the pass-through of the partnership credit will end.
Why Is This Change Necessary?
Rising Operational Costs: The cost of maintaining and upgrading our infrastructure, ensuring reliable service, and adapting to regulatory requirements has increased. To continue providing the high level of service you expect, we must adjust our rates accordingly.
Ensuring Long-term Financial Health: It is crucial to maintain the cooperative’s financial health to support future investments in infrastructure, technology, and maintenance that benefit all members.
What Does This Mean for You?
Starting October 1, the partnership credit will no longer be applied to your bills, resulting in a slight increase in your electricity rates. In 2023, the average residential customer used 1,072 kilowatt-hours (kWh) per month at a cost of $121.22. This average monthly bill will rise to $123.56, an increase of $2.34 per month.
We understand that any change in rates can impact our members, and we assure you that this decision was not made lightly. We understand that any increase in costs can be challenging, and we are committed to helping you manage this change.
This adjustment is imperative to meet rising energy demands, maintain service reliability, and ensure the long-term financial health of our cooperative.
We appreciate your understanding and cooperation as we make these necessary adjustments. Thank you for being a valued member of our cooperative. Together, we will continue to build a brighter and more sustainable energy future.
On August 22, 2024, TVA’s Board of Directors approved a 5.25% increase at their monthly board meeting. This increase will take effect October 1, 2024.
