Knoxville, TN – Tennessee Valley Authority chairman Bill Baxter says the federal utility has worked "extremely hard" to keep rate hikes as low as possible.
Nonetheless, TVA customers are in for a big jump in electric rates.
The TVA board Monday approved an increase of nearly 10%, blaming sharply rising fuel costs.
The change will raise monthly bills between $4.75 and $8.75 for the average residential customer.
TVA last raised rates in October when they went up just over 7.5%.