TVA raises rates, ends pandemic credits as higher inflation, interest rates and power demand push up costs

The Tennessee Valley Authority (TVA) is set to raise its base electric rates by 4.5% starting October 1st, which will result in a $3.50 increase for the typical residential customer, due to higher inflation, interest rates, and power demand; local power companies like EPB are also expected to add their own rate increases once TVA ends pandemic credits granted to the distributors. Additionally, TVA's power demand is projected to double by 2050, triggering the need for new power generation and potentially more rate increases in the future.