KEMPER COUNTY — Regulators meeting Friday could allow Mississippi Power Co. to collect an additional $58.6 million in the last six months of 2012. That would start paying for the $2.76 billion power plant the company is building in Kemper County.
Filings made Thursday with the Public Service Commission show that the average residential customer’s bill could go up $15 to $20 a month, if a majority of three commissioners approve.
It’s unclear whether commissioners will vote Friday or later.
The increase would be crammed into six months, pushing average bills for all users 15.7 percent higher in that period.
PSC staff members have proposed that commissioners cut the overall rate increase by $3.3 million, to $55.3 million.
The company has already spent $1.4 billion on Kemper, about half of which is borrowed.
Here’s what Mississippi Power Co.’s proposed rate increase could mean to its 185,000 customers, according to an analysis from The Associated Press. If approved, the higher rates would be collected over the last six months of 2012, meaning the effect on remaining months would be twice as high as if increases were spread out over a year.
RESIDENTIAL CUSTOMERS: The average residential customer would pay 8.4 percent more on a yearly basis under Mississippi Power’s projections, or 16.8 percent month over month. That’s $126.61 more from July through December, or $21.10 a month.
COMMERCIAL CUSTOMERS: The average commercial customer would pay 8.3 percent more on a yearly basis, or 16.6 percent month over month. That’s $621.42 more from July through December, or $103.57 a month.
INDUSTRIAL CUSTOMERS: The average industrial customer would pay 7.1 percent more on a yearly basis, or 14.2 percent month over month. That’s $37,274.59 more from July through December, or $6,212.43 a month.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info