By The Associated Press
KNOXVILLE — Tennessee Valley Authority ratepayers will get another slight decrease because of lower fuel cost in November, with a drop between 50 cents and $1.00 for average residential customers.
TVA said in a statement Friday that the third straight monthly reduction is due to significantly lower fuel costs, mild temperatures, reduced demand and increased hydro generation.
The monthly fuel cost is at its lowest point in more than a year following drops of up to $3.50 this month and up to $1.50 in September for average residential customers.
On Oct. 1, the nation’s largest public utility’s rates increased for average residential customers by $1.60 a month.
TVA supplies power to about 9 million people in Tennessee, Kentucky, Alabama, Mississippi, Georgia, North Carolina and Virginia.