Gibson EMC board resolves to sign long-term contract with TVA
TRENTON, Tenn. — The Gibson Electric Membership Corporation Board resolved to sign a long-term contract with the Tennessee Valley Authority at a special-called meeting Tuesday night.
Gibson EMC President and CEO Dan Rodamaker says the decision was made after a full evaluation of the marketplace for power supply. The resolution amends the current five-year contract to a 20-year contract with TVA.
Rodamaker says TVA has met Gibson EMC’s criteria of being reliable, affordable and resilient.
“In this decision as with all others, we are 100% driven to do what is in the best interest of our member-owners,” said Rodamaker. “Gibson EMC has enjoyed a strong and productive relationship with TVA, and we look forward to continuing our business relationship with TVA as our power supplier.”
A news release states that TVA’s 20-year contract will result in a 3.1% wholesale credit to Gibson EMC.
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