TVA won’t raise power rates next year #Tennessee_Valley

TVA won’t raise power rates next year #Tennessee_Valley

August 12, 2019 0 By NewsTakers

Tennessee Valley Authority President Jeffrey Lyash speaks with…
Jeff Lyash, who became president of TVA in April , said the federal utility has improved its balance sheet over the past six years and, with ongoing operational improvements, should be able to avoid any wholesale rate hikes — and could even cut some electric rates — over the next 10 years.
Lyash will recommend to the TVA board next week that rates remain unchanged in fiscal 2020 — the first time in six years that TVA will not increase its base rates .
When Johnson came to TVA in 2012, the agency’s debt exceeded $28 billion and was increasing close to the $30 billion cap set for it by Congress.
Under Johnson, TVA cut annual operating and maintenance expenses by more than $800 million, spent $15 billion on finishing new power plants and cleaning up old ones, and adopted and implemented the first six years of a 10-year plan to cut the debt by nearly $7 billion by 2023.
TVA’s operating costs now rank the utility among the top 25% of U.S. electricity producers, but Lyash wants TVA to be among the top 10% in its costs of operations.
“Our members anticipate that this development should improve their competitive position which supports prosperity in the Valley, including more and better-paying jobs.”
Doug Peters, president of the Tennessee Valley Public Power Association, which represents the municipalities and power co-ops that distribute TVA power, said the local power companies support the proposal to the board to both suspend the 2020 scheduled rate increase and adopt a 10-year plan for stable rates.
The Government Accountability Office said TVA initially failed to meet a debt reduction plan proposed in 2006 to cut borrowings by $7.1 billion and was forced to make deeper cuts to bring down its debt.
Among the 100 biggest U.S. electric utilities, the Tennessee Valley Authority had the seventh-lowest industrial rates and the 23rd-lowest residential rates last year, according a report to the agency’s board last year.

Adult spanking is a curious thing. I mean, most of us did not like being spanked as children. We dreaded spankings, didn’t we? So, why do so many of us long to be spanked as adults. I think for some of us, it is for sexual pleasure. For others, it is to meet an emotional need. Maybe we feel we deserve it before we enjoy fucking. Some parts of society make women feel we are bad if we enjoy being fucked. So, maybe we feel better about our longing if we are punished first. I will tell you why I want you to spank me.

Source link