Electric Rates to be Reduced October 1
In August, the Tennessee Valley Authority (TVA) Board of Directors approved a Pandemic Relief Credit for all TVA customers.
On September 24, 2020, the Jackson Energy Authority Board of Directors authorized an Electric System Service retail rate reduction consistent with the TVA rate reduction. Based on energy consumption history this authorization will mean $1.7 million to JEA customers across all standard service classes.
“The continued impact of this pandemic on our communities is unprecedented and creates continued economic uncertainty,” said Jeff Lyash, TVA President and CEO. “Because of the TVA team’s strong operational and financial performance under challenging circumstances this past year, we have an opportunity and responsibility to use TVA’s resources and expertise to provide continued support for customers, businesses and communities.”
Monte Cooper, Sr. Vice-President of Jackson Energy Authority’s Electric Distribution stated, “We are pleased to cooperate with the TVA in providing economic relief to our customers in a time when it is most needed.”
The TVA Pandemic Relief Credit equates to a 2.5% reduction in power costs for one year beginning October 1, 2020.
Summarized Jackson Energy Authority President/CEO, Jim Ferrell, “We appreciate TVA’s initiative and putting decision making in the local provider’s hands. This enables us to make decisions beneficial to our customers in these unprecedented times.”