EPB asks for rate increase - WRCBtv.com | Chattanooga News, Weather & Sports

EPB asks for rate increase

Posted: Updated:

Chattanooga's EPB has asked their Board of Directors for a 3.5% rate increase for electric power customers.

If approved by a June vote, the the increase would go into effect July 1.

This would EPB's first rate increase since 2011 because revenues from EPB's Fiber Optics division have allowed the utility to defer rate increases that would have totaled 5% over the last four years, according to a news release from EPB.

The power company says the need for the rate increase stems from several years of higher-than-normal costs from storm damage and by peak energy demand charges that EPB pays to the TVA.

The new rates will apply to EPB's residential, commercial and smaller industrial customers, but excluding B, C, D Industrial Customers).

Residential customers using 1,000 kWh of electric power per month would pay an increase of about $3.50 on their monthly bills.

“EPB is committed to delivering reliable energy and the best possible value to our customers,” said president and CEO Harold DePriest. “With this rate increase, we are committed to holding the line on additional rate increases for several years.”

Powered by Frankly