By Memphis Business Journal

The Tennessee Valley Authority is dropping its rates by up to $1 for residential customers, the third month in a row rates have declined.

On Oct. 1, TVA announced it would increase rates for residential customers by $1.60 per month, but anticipated lower fuel costs in November and mild temperatures in recent weeks led to reduced demand for electricity and resulted in the rate cuts.

TVAâ¿¿s monthly fuel costs are at their lowest rate in a year.

TVA supplies power to about 9 million people in Tennessee, Kentucky, Alabama, Mississippi, Georgia, North Carolina and Virginia.

Copyright 2011 American City Business Journals
Copyright 2010