FOR IMMEDIATE RELEASE
November 7, 2017
Contact: Jennifer Rennicks, SACE, 865-235-1448, [email protected]
Potential TVA Rate Hike and Economic Impacts in Memphis
Energy Experts Address Memphis City Council Executive Committee
MEMPHIS, TN – On Tuesday, November 7, 2017, electric utility experts will be calling attention to troubling developments at the Tennessee Valley Authority (TVA) that could result in significant economic impacts to Memphis residents. Former President of Memphis Light Gas, and Water (MLGW), Herman Morris, former Chair of the TVA Board, S. David Freeman and current TVA Regional Energy Resource Council Member and Executive Director of the Southern Alliance for Clean Energy, Dr. Stephen A. Smith, will speak before the Memphis City Council members during its Executive Committee meeting. Collectively, these experts represent over 100 years of experience working in the utility sector and on utility policy and are increasingly concerned about the way TVA is conducting business.
Unlike almost all other major, multi-state utility companies, TVA can set its electric rates with little to no oversight by outside entities, like a utility regulatory commission. That’s because TVA is a federal monopoly that receives some input from customer stakeholder groups and federal advisory committees, but is ultimately only answerable to its own Board of Directors. Due to this lack of transparency, TVA has been able to conduct business behind closed doors and it appears that this has led to TVA favoring large industrial customers over residential customers. These experts will be calling on the City Council to start asking TVA some tough questions and make sure that families in Memphis, where energy burdens are some of the highest in the country, get a fair deal.
What: Presentation to Memphis City Council Executive Committee on potential economic impacts to Memphis Light, Gas and Water ratepayers if the Tennessee Valley Authority moves forward with current electric rate restructuring plans.
When: November 7, 2017 starting at 2:15 p.m. CT
Where: City Hall, 125 N. Main St., Memphis, TN 38103
About Southern Alliance for Clean Energy
Founded in 1985, the Southern Alliance for Clean Energy is a nonprofit organization that promotes responsible energy choices that work to address the impacts of global climate change and ensure clean, safe, and healthy communities throughout the Southeast. Learn more at www.cleanenergy.org.