Senator claims Obama has cost TVA hundreds of millions of dollars
Published: May 16,2013
NORTH MISSISSIPPI — Sen. Lamar Alexander (R-Tenn.) says President Barack Obama’s plan to consider selling the Tennessee Valley Authority has already cost hundreds of millions of dollars — even if the nation’s largest public utility is never sold.
The Tennessee Republican said TVA bonds lost about $500 million in value after the president’s announcement last month, largely because of uncertainty over whether the utility would be sold. Alexander said customers in the seven states served by the TVA will likely pay more for electricity as a result.
Alexander said at a Senate hearing the Obama administration should have discussed the sale idea privately with TVA officials instead of raising it publicly, adding that most people in the region oppose selling the TVA.
U.S. officials say no decisions have been made.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Peavey's wellness program honored after workers drop 1,000 pounds
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Judge gets more time to fight efforts to remove him from office
- State renews battle over water use with city of Memphis
- Voters to decide whether hunting, fishing is constitutional right
- Coast cleanup nets 1,600 bags of trash — and a watermelon patch
- Mississippi Film Studios signs contract with New Orleans company