TVA To Pay $18 Million To Settle Overcharging Suit

Law360, New York (August 21, 2007, 12:00 AM EDT) -- The Tennessee Valley Authority has reached an $18 million settlement, approved by a federal judge on Monday, with a group of companies alleging that the utility company had overcharged them for electricity during a heat wave in 1998.

“We still believe that we properly and fairly allocated costs to these customers,” said John Moulton, a TVA spokesperson. The settlement, he said, was just “a good business decision.”

The money will be distributed among over 350 separate plaintiffs, and up to 35 percent of the amount may...
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