TVA to lower residential utility bills

Every little bit helps, right? This was reported in yesterday's Memphis Business Journal:

TVA to lower residential utility bills

The Tennessee Valley Authority has announced a residential utility bill reduction between 50 cents and $1 starting this month.

TVA increased its fuel cost adjustment credit from 78 cents per kilowatt-hour to 86 cents per kilowatt-hour, enabling it to lower residential utility bills. The fuel cost adjustment came after a higher than anticipated hydroelectric power generation in December, reducing the TVA's need to employ more expensive resources to generate power.

Fuel cost adjustments were implemented by TVA in October 2006, and are used to help recover fluctuating fuel and purchased power costs as they occur, thus allowing TVA to match revenues to expenses. It is used to determine energy charges on customers' bills.

TVA is the nation's largest public power utility, providing power to large industries and 157 power distributors that serve approximately 9 million consumers in seven Southeast states. Memphis Light, Gas & Water is TVA's largest customer.