BRISTOL, Va. – The 16,417 customers of Bristol Virginia Utilities got an early holiday present Thursday when the power company announced that December electric bills will be 18 percent lower than they were a year ago.
Stacey Bright, the utility’s executive vice president and chief financial officer, said the average BVU customer will pay $119 for electricity use next month, significantly less than last December’s $145 bill.
“We’re quite happy that we’ll be able to pass along some savings to our customers,” Bright said.
She said the company was able to reduce its December rate because the Tennessee Valley Authority, which supplies BVU’s power, adjusted its figures to reflect lower energy costs during the past year.
Among other factors, TVA has been able to produce more hydroelectric power – a cheaper form of energy – because of heavy rainfall this year. During 2008, most of Southwest Virginia and East Tennessee was suffering from severe drought-like conditions.
“This time last year, we also had a lot more issues with the stock market, which was affecting fuel prices, too,” Bright said.
Bristol Mayor James Rector said next month’s lower energy bills will be especially timely for residents this year.
“A lot of our citizens are older people on fixed incomes, and a lot are people working on jobs where they didn’t get raises,” Rector said Thursday. “So, yes, absolutely, this is good news. It’s welcome news.”
On Wednesday, Bristol Tennessee Essential Services, which has 33,000 electric customers, said it would be reducing December 2009 bills by 20 percent, compared to December 2008.
Like Bright, BTES Chief Executive Officer Mike Browder cited more rain and lower energy costs as important factors leading to the rate decrease.
rbrown@bristolnews.com | (276) 645-2512
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