SMEPA to move forward on Kemper power plant deal
Published: August 23,2012
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.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Yarber could be sworn in today as new Jackson mayor
- After review, MSU moves forward on new research facility
- Ole Miss launches commitment to be 'climate neutral'
- Pharma Pac lays off rest of workers; could end up owing state
- SpaceX, Stennis officially open new rocket test stand
- Acco Brands investing $1.6M, adding 162 workers
- Gulf LNG terminal mulling export opportunities
- Secretary of State's Office transitioning to new location