TVA Approves 4.5% Rate Increase and $15B Investment for Bellefonte Development
The Tennessee Valley Authority (TVA) has approved a 4.5 percent rate increase, its first in four years, which will go into effect on October 1. The rate increase will impact the electricity bills of TVA customers, who purchase power through local distributors. Additionally, TVA has moved the Bellefonte nuclear plant site off its surplus property list, indicating potential future consideration for generation or storage purposes. The utility plans to invest $15 billion in building additional electricity-generating capacity and upgrading its system to meet rising electricity demand. TVA CEO Jeff Lyash acknowledged the impact of the rate increase on customers and emphasized the funds would be used to improve system reliability and support economic growth in the region.