KNOXVILLE, Tenn. -

Paying more for power could be a reality for many now that the Tennessee Valley Authority announced its raising rates.

It's the public utility's first rate increase in two years.

The board of directors approved a 1.5 percent hike. The rate adjustment will add about $1.50 more a month for the average customer. 

A new budget was also approved at the meeting.

We're told that budget will anticipate 4.6 percent lower sales year over year.