Cherokee Electric to increase rates in April

By Scott Wright

CENTRE — A TVA rate increase will have the expected effect of raising rates for Cherokee Electric Cooperative customers, CEO Randal Wilkie confirmed to The Post on Wednesday.

"The impact will vary with individual usage, (but) residential customers can expect monthly electric bill increases of $9 to $11," Wilkie said.

TVA, which supplies electricity to Cherokee Electric, announced in February it will increase wholesale rates by 7 percent beginning April 1. According to a statement, the increase "is necessary to fund new generating facilities and energy efficiency initiatives in order to meet the growing demand for energy in the Tennessee Valley."

Wilkie said part of the extra income the Cooperative receives from a "modest additional increase" will be used to complete a four-year system upgrade plan that includes renovation of the Gaylesville/Cedar Bluff substation, replacement of poles and wires across Cherokee Electric's coverage area, and replacing line components to assure greater reliability and safety.

"The total cost of our plan is more than $10 million and is absolutely necessary because of the increasing demand for quality electric power in the five counties served by Cherokee Electric Cooperative," Wilkie said.