Chattanooga Times Free Press
January 14, 2011
See how TVA plays the game? Up a little, down a little but always more “up”.
The Fuel Cost Adjustment game is up TVA, tell how you are going to “refill” the overcharged FCA account without increasing the FCA or base rate? A clue, does the word “borrow” come into play?
You may recall that TVA “accidentally” overcharged ratepayers about $800,000,000 then started repaying the overcharge bit by bit so it would appear that ratepayers were getting a break when it was their money in the first place. Oh, the subterfuge! That’s like standing at the gas pump with overflowing gasoline all around and pretending not to notice it.
But since TVA already spent the overcharged millions they decided to “pay back” that fund with another $800 million as reported to the SEC. I’m counting that one as a fraudulent.