TVA: Fuel costs 25% lower than 3-year average

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KINGSPORT, Tenn. (WJHL) – Tennessee Valley Authority fuel costs are at a record-low, resulting in lower costs for power throughout the Valley.

According to a release from TVA, starting with bills on June 1, the total monthly fuel cost will be 1.427 cents per kilowatt-hour for residential and business consumers.

Large Manufacturing customers will see a monthly cost of 1.201 cents per kilowatt-hour, and Large General Service customers served by TVA and local power companies will see a cost of 1.290 cents per kilowatt-hour.

TVA says the overall system average fuel rate for June is actually 25% lower than the three-year average fuel cost for the month.

According to the release, the low cost is due to the impacts of the COVID-19 pandemic and mild weather, which also lowered costs in April.

TVA also reports that April fuel expenses were the lowest ever seen by the TVA since the creation of the fuel cost adjustment in 2006.

Anyone requiring assistance with energy bills can click here for more information.

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