Senator claims Obama has cost TVA hundreds of millions of dollars
by Associated Press
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.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Study: Mississippi has highest sales tax rate in U.S.
- Prescription for success — Transcript Pharmacy continues fast growth
- MSU researchers develop timber-management software
- New law on taxing methods hailed as big win for businesses
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Panther Creek megasite — Putting a value proposition out there
- BBB issues warning involving asphalt paving scam
- Running luxury car dealerships, like Mercedes of Jackson, comes naturally to Trudy Higginbotham Moody
- Chris McDaniel responds to radio show audio clip