In August 2018, the Tennessee Valley Authority (TVA) approved a 1.5% effective retail rate increase for all of their 154 power distributors, which includes Hopkinsville Electric System. This pass through to HES customers amounts to an additional $1.60 on the electric bill of the average HES residential customer using 1,000 kilowatt-hours per month.
TVA President and CEO Bill Johnson said the rate increase is needed to help implement the agency’s long-term debt reduction plan which will reduce TVA’s overall cost of power. TVA said its residential power rates are among the 25 percent lowest in the country and its industrial rates are in the cheapest 10 percent of all utilities. “Both our residential and industrial rates have become more competitive,” said Johnson, who predicted that rates should remain fairly stable over the next decade, as well.
“HES never likes to see a rate increase by our power supplier TVA, but it is necessary to continue our mission of providing safe, reliable and economical electric service to our customers,” says HES/EnergyNet General Manager Jeff Hurd.
This rate change will become effective October 1, 2018. Complete details on HES electric rate schedules can be found on our website at www.hop-electric.com or by calling 270-887-4200.