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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal