Mississippi utility regulators are approving a settlement cutting rates for consumers but paying Mississippi Power Co. for part of its Kemper County power plant.
The Public Service Commission voted 3-0 Thursday to approve a previously announced agreement between the unit of Atlanta-based Southern Co. and the Public Utilities Staff.
A residential customer using 1,000 kilowatt hours monthly, will see bills fall $5 to $139 monthly. That reduces an emergency rate increase imposed in August, but rates will remain about 15 percent higher.
Because commissioners found the entire emergency rate increase wasn’t justified, Mississippi Power will credit bills with a refund in 90 days. Residential customers will get $23.
The agreement increases overall rates for Mississippi Power’s 186,000 customers by $126 million annually, not the $159 million the company sought.
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