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Completion of the power plant in Kemper County was more than three years behind schedule.

Mississippi regulators set to approve deal on utility rates

Mississippi utility regulators are likely Tuesday to approve a settlement on how much Mississippi Power Co. customers should pay for a troubled $7.5 billion power plant.

Once touted as a model for the future of coal, the state Public Service Commission forced the unit of Atlanta-based Southern Co. quit construction in 2017, with shareholders absorbing about $6 billion in losses.

The move means residential customers could soon pay about $2 less per month than they’re currently paying for the part of the power plant burning natural gas.

One prominent opponent, Hattiesburg oilman Thomas Blanton, still opposes the deal. But most other Kemper foes have signed on.

In a hearing last month, Mississippi Power executives said that because of tax cuts, revenue required from ratepayers would fall a little more.

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