Middle Tennessee Cooperative Withdraws Offer to Purchase Electric Utility

Middle Tennessee Electric Membership Corp. informed the Mayor of Murfreesboro that it has withdrawn its offer to purchase Murfreesboro Electric Department which was recently valued between $175.5 million and $247.3 million. The City Council is discussing whether to take away the utility’s authority to make decisions as a governing body and convert the members into an advisory board to make recommendations for the elected officials to consider for approval.

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