The Tennessee Valley Authority (TVA) has announced a 4.5% wholesale rate increase beginning in October 2023 which will affect Hopkinsville Electric System (HES) customers as well as the other 152 TVA power distributors in the seven-state service area. Due to inflation and the demand for more capacity in the valley, TVA will require additional funds to maintain reliability and invest in new generation assets. In addition, TVA is eliminating pandemic relief credits which will increase HES wholesale power costs.

HES will implement a rate increase spread equally among all our business and residential rate classes. HES is experiencing dramatic cost increases in all areas of our business including material, transportation and capital expenses which directly impact our electric rates.

“HES understands the burden a rate increase places on our customers, and we work extremely hard to provide the highest quality service at the lowest cost. This increase is needed to continue to provide the level of service and reliability that our customers have come to expect,” says HES & energynet General Manager Jeff Hurd.

The rate changes will result in a $7.47 increase to the monthly electric bill of the average residential customer. HES still remains one of the lowest electric power providers not only in western Kentucky but throughout the TVA seven state region. HES is a not-for-profit municipal utility which serves 13,000 customers within the City of Hopkinsville.

The rate changes will become effective October 1, 2023, and complete details on HES electric rate schedules can be found on our website www.hop-electric.com or call 270-887-4200.