EPB plans to increase electric rates this year

CHATTANOOGA, Tenn. (WDEF) — EPB customers can expect to see a rate increase coming soon.

Their board has approved a 4% electric rate increase, they announced on Friday.

It is their first local increase in eight years.

It will go into effect this October. That is, if it is approved by TVA.

In explaining their reasoning for the increase, EPB sites inflation, economic conditions, storm recovery costs and supply chain challenges as contributors.

According to the company, customers who use 1,136 kWh of electric power can expect a $5 per month increase.

“EPB has been able to avoid rate increases for years longer than expected, but inflationary pressures and other factors make it necessary to make this decision at this time,” said EPB President & CEO David Wade. “We remain focused on enhancing the reliability and resiliency of power for our customers, while keeping rates lower than many other places across the country.”