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UPDATE: Rising fuel costs to TVA passed on to customers
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The Tennessee Valley Authority has announced an increase in its fuel adjustment charge. The utility said the hike will raise residential power bills between $3 and $6.50 per month, depending on how much electricity is used.
The charge goes from the current 0.552 cents per kilowatt-hour to 0.193 cents per kilowatt hour. TVA says that's a 5.9 percent increase from the prior total rate and comes after an increase of 5.3 percent for March.
TVA uses fossil fuels — coal, oil and natural gas — to generate about half of its electricity. When those costs rise, TVA's costs increase.
The other half of TVA electricity comes from its nuclear plants and hydroelectric generation.
It sucks that the consumer is at the bottom of the money chain. We need some way to pass the cost back to the oil companies (i.e. the Middle East). I say we hike up the cost of whatever they buy from us! See how they like that!