Knoxville News Sentinel comment on rate hike

KNS comment on rate hike
February 12, 2011

Why does it always seem to devolve to poor TVA management? They’re guessing with only two weeks notice yet in 2009, TVA continued to collect too much from ratepayers for over $800,000 in overbillings, they forgot to turn off the collection spigot.

But wait! TVA magnanimously admitted its “oversight” and began paying ratepayers back their own money, not with interest as any other agency or company would do but because in this case ratepayers pay for everything. A devilish scheme it was. It seemed to reduce rates for several months when it only was a refund of their own money.

Because TVA naturally had already spent the $800,000 it had “borrowed” from ratepayers, they told the Securities and Exchange Commission it was necessary to “refill” their coffers with that absconded (shall we say stolen) money.

Fraud drips from every facet of TVA’s actions. Apparently TVA’s OIG who seems to see only minor infractions is frozen to speak. Probably because that puppy is afraid to bite the hand that feeds it.

Ernest Norsworthy

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