TVA writes on their website:
“TVA’s mission is to provide rates as low as feasible, so we dispatch our generation fleet based on least-cost principles. Each month, TVA determines the hourly forecast of energy needed and then determines the least cost manner to serve that energy. Recognizing that forecasts are never perfect, there is a true-up mechanism which collects or refunds the difference between the forecast and actual fuel expenses and spreads that difference out over a couple months. By managing the fuel costs in this manner, TVA can remove the volatility of commodity markets and provide a more stable environment for our customers.”
This means that an increase is seen on August bills to account for the TVA Fuel Cost Adjustment. Currently, the August Adjustment rate is 4.99 cents per kWh used in residential consumption, as compared to July (4.149 cents per kWh) and June (2.942 cents per kWh). As of now, the Maryville Electric Department does not have September 2022 Adjustments, but will provide updates as we receive more information.
If you are seeing higher bills for the summer months, the TVA Fuel Cost Adjustment is likely a major part of increasing bill amounts. To reduce the amount of electricity your home uses, the Maryville Electric Department suggests reducing lighting in unoccupied areas, unplugging unused equipment in residences and businesses, and adjusting thermostat temperatures in areas that are usually unoccupied. TVA also suggests scheduling an In-home Energy evaluation if you have concerns on your electricity usage. You can schedule an appointment using this link: https://energyright.com/
If you have questions or concerns, please call (865) 273-3326 for more information.