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.