TVA tries to save face
When the TVA Board of Directors recently announced they were giving a half-million dollar raise to TVA's already overpaid (and completely superfluous) CEO, they also announced that they "hoped" TVA's electricity rates would decrease in the coming months. Today, TVA announced that its fuel costs had dropped a whopping 25 percent this quarter. One would think that a 25 percent decrease in fuel costs would result in a significant (if not 25 percent) decrease in electricity rates.
One would be wrong.
The 25 percent drop in fuel costs will be passed on to TVA's customers all right, but only partially. We'll get a miserly 6 percent decrease in electricity rates, beginning in January.
Meanwhile, Tom Kilgore gets to keep his $3.27 million salary, for doing whatever it is he does for a living.