Tuesday, November 29, 2022

Report: Tennessee is 31st highest in average retail price for electricity

 By Jon Styf, The Center Square, Nov 28, 2022 -  Tennessee ranked 13th in total retail sales of  electricity and was 31st in average retail price, according to new data from 2021 released recently by the U.S. Energy Information Administration.

The state also ranked 21st in summer megawatt capacity and was 11th in direct use.

Tennessee’s average price was 9.78 cents per kilowatt hour, compared to the national average of 11.1.

In 2020, Tennessee was 22nd in energy consumption per capita while being 41st in electricity prices and 35th in the cost of natural gas.

The Tennessee Valley Authority is the largest public power corporation in the country, generating 90% of the state’s electric generating capacity and three-fifth of its power plants.

TVA is federally owned and serves 10 million by providing electricity to 153 local power companies. TVA said that natural gas prices were 141% higher in June 2022 than June 2021 but TVA’s effective power rate, inclusive of fuel cost, is only 11% higher than a year before.

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