TVA Approves $9.7B Billion Budget; Will Require Rate Increase

HUNTSVILLE, Ala. (AP) - The Tennessee Valley Authority plans a
single-digit increase in power rates under a budget approved by the
board of directors.
The board for the nation's largest public utility voted
unanimously to approve the nearly ten-billion-dollar spending plan
for the next fiscal year.
The plan accounts for expected increases in costs for fuel -
specifically coal - and purchasing power from other sources during
periods of high demand.
President Tom Kilgore told the board that the exact amount of a
rate increase would be announced after he consults with various
customers of the utility.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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