The Tennessee Valley Authority is planning to increase costs for energy this fall to fund ongoing construction and energy development. The TVA says the 5.25% base rate increase will be taking effect on October 1, 2024. The average residential bill during the 2023 fiscal year was around $138, which means the average bill would cost around an additional $4.35 each month. According to the TVA, the population of the region is growing three times faster than the national average, so the agency is working to build around 3,500 megawatts in new generation.