AP analyzes impact of Mississippi Power’s proposed rate increase
by Associated Press
Published: June 20,2012
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.
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