Jefferson Cocke County Utility District (JCCUD) will participate with other utilities in a large purchase of natural gas that is expected to save local ratepayers at least $1.3 million over the next seven years.
The board of commissioners signed an agreement with the Tennessee Energy Acquisition Corporation (TEAC) and announced the agreement during the monthly meeting last Tuesday in Newport.
TEAC’s daily operations are overseen by J. Mark McCutchen, president and general manager since 1996; Rhonda Wall, long-time controller and treasurer; general counsel and advisor Jim Choukas-Bradley of McCarter & English, LLP in Washington, DC assisted with the structuring and negotiations.