BrightRidge Adopts FY 2027 Budget with No Local Rate Increase

JOHNSON CITY – BrightRidge’s Board of Directors adopted a $287 million fiscal year 2027 budget Tuesday that includes no local rate increase while reinvesting in electric reliability and broadband expansion.

Electric Division operating and maintenance costs are budgeted to increase just 1.97 percent year-over-year. The $28.7 million capital budget includes investments in substation modernization, advanced switching, and upgraded circuits to serve regional growth.

The FY 2027 electric budget includes land acquisition adjacent to the BrightRidge campus in Boones Creek to accommodate Boones Creek Road improvements and future campus expansion.

“We are pleased to be well-positioned to continue reinvesting in both electric and broadband infrastructure while holding rates flat,” BrightRidge CEO Jeff Dykes said. “That did not happen by accident. It takes a team committed to preparation, efficiency, and long-term planning. Our region continues to grow, and BrightRidge is improving the infrastructure necessary to serve our customers as reliably and affordably as possible.”

The Broadband Division budget also is balanced without a subscriber rate increase. Broadband has not raised rates since its startup in 2019. Broadband anticipates serving about 26,000 customers by June 30, 2027, with service available to 74 percent of all electric customers.

Broadband capital is budgeted at $8 million to extend 10-Gbps symmetrical service in Sulfur Springs, Gray, areas south of Gray and rural Washington County.

BrightRidge is a nonprofit public power provider that owns and operates the retail electric distribution network serving more than 86,000 electric customers in Washington, Sullivan, Carter and Greene counties. BrightRidge purchases wholesale electricity from the Tennessee Valley Authority.

BrightRidge customer bills directly reflect any changes in TVA wholesale rates and TVA’s Fuel Cost Adjustment (FCA). While the FCA passes through directly onto customer bills and varies by month, TVA typically considers its wholesale rate position in October.