The Bristol Tennessee Essential Services (BTES) Board of Directors voted on Wednesday to reduce its customers’ rates for the next 12 months.
“On August 27, the Tennessee Valley Authority (TVA) Board approved a Wholesale Pandemic Relief Credit of 2.5 percent of certain components of the wholesale rate for twelve months for all of the customers TVA serves,” explained BTES CEO Mike Browder. “The BTES Board voted to pass this credit through to our customers which results in a decrease of an average of 1.6 percent of retail rates.”
The rate reduction will be applied beginning in October 2020 and will remain in effect for the duration of the TVA credit.
“The continued impact of this pandemic on our communities is unprecedented and creates continued economic uncertainty,” said Jeff Lyash, TVA president and CEO. “Because of the TVA team’s strong operational and financial performance under challenging circumstances this past year, we have an opportunity and responsibility to use TVA’s resources and expertise to provide continued support for customers, businesses and communities.”
In addition to the temporary rate reduction, BTES and TVA have each allocated $15,000 in matching funds to donations that help some residential customers in need pay their electric bills. Since April 2020, BTES’ customers have donated over $12,000 to the BTES Help Your Neighbor Program. This has the potential to reach $45,000 in direct benefit to our community. The Salvation Army certifies the eligibility of the recipients and the United Way of Bristol administers the funds.
“We are hoping this provides our customers with some additional help during the COVID-19 pandemic,” continued Browder. “BTES is committed to doing what we can to help our customers, our employees, and the community we serve.”
