Customers of Pennyrile Electric and Hopkinsville Electric System will notice an increase in summer electric bills as the result of a fuel cost adjustment from the Tennessee Valley Authority.
Pennyrile Electric officials said Friday the fuel cost adjustment will nearly double July 1, adding roughly 2 cents per kilowatt hour compared to July 1, 2021. Families who average using 1,000 kilowatts per month will see an average increase of $20 compared to July of 2021. The more energy a family consumes, the more the bill will increase.
TVA Fuel Cost refers to the cost of the fuels that TVA uses to generate electricity. Those fuels include natural gas, nuclear, and coal plants that generate the electricity. TVA uses the Fuel Cost Adjustment (FCA) to help manage fluctuations in the cost of those fuels.
The FCA does not refer to fuels like gasoline or diesel that power our fleets of vehicles. The Fuel Cost Adjustment has remained steady for several years, but with global supply chain and inflation issues, the FCA has climbed in recent months. Fuel Cost Adjustment charges are determined by TVA monthly, and money collected for the FCA is paid directly to TVA.
With the increased FCA and the summer’s record temperatures, consumers are encouraged to conserve energy as much as possible to help control costs. The best way to conserve energy is to raise your thermostat, especially during the hottest hours of the day. Other energy-saving tips include:
• Turn off lights and unplug unnecessary electrical appliances.
• Keep curtains and blinds closed.
• Wash full loads of laundry and dishes.
• Caulk air leaks around windows and doors.
• Run ceiling fans counterclockwise to circulate air.
