The Tennessee Valley Authority has launched an initiative to support increased flexibility for local power companies who are responding to urgent community and customer needs during the COVID-19 outbreak.
TVA Vice-President of Government Relations Justin Mairhofer the board of directors announced Thursday up to a total of $1 billion of credit support for local power companies such as Pennyrile Electric and Hopkinsville Electric.
Justin says the credit support will help local power companies to figure out the best way to help their customers.
He adds the local power companies will be allowed to pay back any deferred utility costs over a period of time to protect the company financially.
The initiative launched Thursday is in addition to actions TVA has already taken to provide regulatory flexibility that allows local power companies to halt disconnection of electric service and respond quickly to their customers’ immediate needs.
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