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BrightRidge to issue $2.66 million Recovery Credit to customers in February & July; bumps Internet speeds at no cost to customers
JOHNSON CITY – BrightRidge Directors voted unanimously Tuesday to pass along its full Tennessee Valley Authority Pandemic Recovery Credit to residential and small commercial customers, providing $2.66 million in bill relief in in 2023.
The credits will be issued twice, in February and July, and will average between $12-$20 per credit, with the final amount fixed by system usage which determines the TVA refund to BrightRidge.
With completion of the 2023 credit, BrightRidge will have issued $5.4 million in recovery credits to residential and small commercial customers since 2020.
“We are proud as the region’s largest public power provider to have pushed as hard as possible to assist our customers in recovery,” BrightRidge CEO Jeff Dykes said. “Whether supporting local small businesses, helping our most vulnerable customers reduce their home energy usage, supporting customers who need help paying their utility bills, or recovery credits and deposit refunds, there is no other business that has come close to the providing the support that BrightRidge has provided.”
About 4,113 BrightRidge Electric residential customers will receive a deposit refund in February, due to a recent reduction of BrightRidge account deposit requirements.
BrightRidge will refund deposits in February for customers who haven’t moved and have sound payment histories over the prior three years. In total, about $900,000 in deposits will be refunded on approximately 22.4 percent of all residential accounts.
Also this week, the BrightRidge Board of Directors voted to move ahead with a free Internet speed upgrade for BrightRidge Broadband customers.
In result, BrightRidge Broadband 200 Mb residential customers will be upgraded to 300 Mb symmetrical, while 500 Mb customers will move to 600 mb symmetrical.
“BrightRidge Broadband has built truly next generation Internet unrivaled in the country, offering symmetrical services that don’t bog down backed by triple redundant connections to the Internet backbone delivered over a brand-new fiber-optic network,” Dykes said. “And our customers have responded, with BrightRidge Broadband fast approaching 10,000 customers. In honor of that success, we are pleased to offer customers a free service upgrade beginning in December.”