TVA extends Pandemic Recovery Credit
CHATTANOOGA, Tenn (WDEF) – The Tennessee Valley Authority board has decided to extend their pandemic recovery credit.
The company says based on the continued strong operational and financial performance the board voted to extend 2.5% pandemic recovery credit to at least 153 local power companies.
Extending the program is expected to provide an additional $220 million.
TVA also announced they approved the continuation of the community care fund, providing up to $5 million in additional TVA funds.
“So adding that $5 million that gives a total of $12 million since we started it. It’s been successful in matching funds for people who have difficulty paying their electricity bills. You can reach out to your local power company if you need assistance with that,” says Malinda Hunter, TVA Communications.
The extension of the community care fund also allows power companies to work with TVA to identify local nonprofits that need support due to impacts from the pandemic.