TVA rate credit will benefit customers
The DU board has approved management’s recommendation to pass through the 2.5% credit on wholesale electric purchases from TVA to all DU electric customers.
Per TVA’s recent announcement, DU will receive a credit equal to 2.5% of its non-fuel, wholesale power cost each month beginning in October 2020 and continuing for one year.
A typical residential electric customer will see an average savings of $2 per month. (Each customer’s actual savings will be based on their metered usage.) Since billing cycles lag about a month behind usage, customers will see the reduction on their November DU billing statement.
“Our Electric System is meeting its financial targets each quarter,” Hardin said. “Management and the board felt it would be most beneficial to pass these savings on to our customers at this time.”