SMEPA to move forward on Kemper power plant deal
by Associated Press
Published: August 23,2012
Tags: acquisition, cooperative, electricity, energy, generation, plant, power, purchase, utility
KEMPER COUNTY and HATTIESBURG — The South Mississippi Electric Power Association says it will go through with its planned purchase of 15 percent of a Kemper County power plant.
The group, which generates and transmits power to 11 electric cooperatives in southern and western Mississippi, says it will pay $500 million for its share of the $2.8 billion plant, which Mississippi Power Co. is building.
Mississippi Power is a unit of Atlanta-based Southern Co.
SMEPA believes that because wholesale rates will increase once the coal-fired Kemper plant is completed, the cooperative would be better off owning a share.
The cooperative hopes to complete the sale by year’s end. The federal Rural Utilities Service needs to approve a loan for SMEPA and the Mississippi Public Service Commission needs to approve the sale.
![[RSS Feed]](http://i2.wp.com/msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/rssfeed.png)
![[del.icio.us]](http://i0.wp.com/msbusiness.com/wp-content/plugins/tdc-sociable-toolbar/delicious.png)
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- School superintendent terminated after party funds, travel questions
- Accounting firm finds problems at troubled MDMR
- Hosemann recruiting Realtors to market tax-forfeited property
- Airline announces new service at Oxford
- Davis resigns, turning over mayor's office early
- Woman indicted for Medicaid fraud; faces up to 35 years in prison
- Telepak strikes another branding deal with C Spire
- Report: State's teacher education programs 'mediocre at best'
- C Spire launches new WiFi On app for Android-powered phones
POST A COMMENT