By The Associated Press
KNOXVILLE, Tenn. — A third straight monthly increase in the Tennessee Valley Authority’s monthly fuel rate means residential bills will go up by an average of $1, starting in May.
The utility’s fuel cost adjustment for billing periods starting May 1 means residential monthly bills will increase between 50 cents and $1.50, depending on usage levels.
The 1 percent increase follows a 5.9 percent increase in April after a 5.3 percent increase for March.
TVA said in a statement on Monday that a fuel cost adjustment credit that customers have received since October continues to be used up.
About half of TVA’s electricity comes from coal, oil and natural gas.
TVA has nearly 9 million consumers in Tennessee, Alabama, Mississippi, Kentucky, Georgia, North Carolina and Virginia.