NES Announces Scheduled TVA Rate Increase To Take Effect In October

FOR IMMEDIATE RELEASE& & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & Sept. 30, 2024& & & & & & & Nashville, Tenn. – Nashville Electric Service (NES) informs customers of a recent Tennessee Valley Authority (TVA) rate increase, effective Oct. 1, 2024. This adjustment will raise the average residential customer’s monthly bill by 2.9%, which is an overall increase of approximately $3.78 per bill. NES strives to limit increases to 3%-5% every three to five years to cover the rising costs of serving Middle Tennessee. However, TVA may increase wholesale rates on a yearly basis – which are then passed through to NES customers. The rate adjustment is needed due to a 5.25% TVA base rate increase for FY2025. When TVA makes a change to the way they bill NES, whether it be a structure change or a rate increase, those changes must be reflected in the way NES bills customers. Rate adjustments are made to continue focusing on safety, meeting the growing needs...