Ratepayers watching closely as TV board meets to craft budget

NORTH MISSISSIPPI — Electricity rates for Tennessee Valley Authority customers in seven states are on the agenda for the utility’s board of directors.

The board meets today in Knoxville and will vote on the budget for the fiscal year that begins Oct. 1.

Part of the financial plan will be deciding whether to raise or lower the price that wholesale power distributors pay TVA for electricity. TVA’s rate actions are usually passed on by the distributors to residential and commercial customers in Tennessee and parts of Alabama, Georgia, Kentucky, Mississippi, North Carolina and Virginia.

TVA increased rates 2 percent last year. It also makes pricing adjustments during the year for fluctuating fuel costs.