At the latest TVA board meeting, it was announced that the cleanup costs for the Kingston Steam Plant ash pond spill may approach 825 million dollars. As with anything else related to a business operation, the consumer will ultimately bear the cost. Looks like the utility rates for me, Penny, and some other members will be increased before the year is over. I can almost guarantee it. Ironically, the board reduced our rates by 7% starting on April 1 (lower oil costs) but that will not last long.
The board also voted to eliminate all executive bonuses, and also all corporate incentives for non-union employees for the current fiscal year.