This year is a big one for Chickasaw Electric Cooperative members, employees and board members. We celebrate 75 years of providing safe, reliable, affordable power to our rural communities.
The Tennessee Valley Authority (TVA) board recently approved a 1.5 percent increase on wholesale electricity rates that will take effect on October 1st. Chickasaw Electric Cooperative members will see this pass through increase on their November billing cycle. TVA states the declining demand for electricity, a continued slow economic recovery in the region and higher operating costs for the need to adjust wholesale rates. TVA President and CEO Bill Johnson said the wholesale power increase was necessary to meet revenue requirements and ensure the safe and reliable operation of the TVA system. “You are turning projects into completed projects, and as soon as they become complete you have to start recovering your debt, your capital that you have invested and the interest on it,” said Johnson. He is referring to a number of projects that TVA has been working on including the Watts Bar Unit 2 nuclear reactor, set to go online in 2016, and a combined-cycle natural gas plant that will replace coal units at Paradise fossil plant in Kentucky in 2017 just to name a few.