Advantages and savings in store for Memphis if TVA is dropped, latest study finds

MEMPHIS, Tenn. – A new report affirmed the savings and advantages available to Memphis if it leaves the Tennessee Valley Authority for lower-cost, greener power, according to a presentation by Siemens Inc. to the Memphis Power Supply Advisory Team (PSAT) last Friday.

“This presentation, and the report it details, confirm that Memphis can save billions of dollars in the decades ahead by leaving TVA for cheaper, greener power,” said Henry Morris, Jr., former Memphis Light, Gas, and Water President and an advisor to Friends of the Earth. “In addition to previous expert reports with similar findings, the very report commissioned by the PSAT confirms that the renewable energy options are cheaper, cleaner alternatives TVA, particularly if Memphis adopts an alternative power supply with renewable energy and efficiency as cornerstones.”

The PSAT is the commission tasked with making a formal recommendation on whether or not Memphis and Memphis Light, Gas and Water should leave TVA.  Friday’s report was commissioned by the PSAT as a thorough examination of options and advantages.  Multiple previous expert reports, including some commissioned by FOE, reported similar conclusions.

“Most importantly, in uncertain times like these, we are talking about billions of dollars in savings that could be passed on to Memphis residents and businesses.  We can’t afford to turn that down,” Morris said.  “It is clearer now more than ever that the time has arrived for our city council, MLGW, and the Mayor to give Memphis the five-year notice of our intention to leave TVA.”

Contact: Erin Jensen, (202) 222-0722, [email protected]

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