On Thursday, Tennessee Valley Authority (TVA) board members approved a new fixed-rate structure for how it charges utilities for electricity, despite opposition from environmental groups, small business groups, and even the mayor of Nashville. TVA will now charge local utilities, like Memphis, Light, Gas & Water (MLGW), a new mandatory, fixed fee that equals 6 percent of its overall wholesale rate. A news release about the change from the TVA touted TVA’s accomplishments since 1933 (going all the way back to rural electrification), noted its 85th birthday only eight days away, and mentioned, vaguely, that the board “approved measures to help ensure the continued evolution of services that add value to Valley residents and businesses during...
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TVA Approves New Fixed Fee for Electricity