WATER VALLEY – Electric power customers in Yalobusha County will be paying more starting in October because of an increase in the wholesale cost of electricity.
The Tennessee Valley Authority (TVA) will increase wholesale power rates 20 percent on Oct. 1 to cover increased fuel costs and related expenses. While amounts will vary, consumers will see an average increase of $12 to $15 per 1,000 kilowatt-hours.
“We recognize that the increased costs TVA is experiencing are also driving up costs for the families and businesses we serve,” said TVA President and CEO Tom Kilgore. “The last thing we want to do is tell customers that our product is going up in price, but we have no alternative for paying for fuel.”
Customers in the city can expect a 14 to 15 percent increase, according to Joe Newman, Manager of the Water Valley Electric Department.
“We don’t get any additional income. The rate increase is passed straight through us to the customer,” Newman said Tuesday morning as he and Crystal Hale, office manager, worked on the department’s 2008-2009 budget.
Newman added that Water Valley’s rates hadn’t gone up in several years. “We have very good rates compared to others,” he said.
Customers of Tallahatchie Valley Electric Power Association (TVEPA) could see increases from 17 to 19 percent in residential utility bills, Jim Vinson, Director of Finance and Administration, said.
TVEPA serves 22,000 residential customers in north Mississippi. The average monthly user consumes 1,300 kilowatt hours per month, Vinson said. The approximate monthly increase for 1,300 kwh should be between $15 and $20.
TVA officials are urging customers to go to their website at www.tva.com for information on how they can use energy more efficiently and stretch their energy dollars further.