Legislators pushing for bonds to cover Kemper plant costs
by Associated Press
Published: January 30,2013
KEMPER COUNTY — Lawmakers are advancing a proposal to let Mississippi Power Co. sell bonds to cover expenses above $2.4 billion at the Kemper County power plant it’s building.
They also want to allow the Mississippi Public Service Commission to approve a multi-year rate plan, to prevent a rate spike when the plant begins operation.
The House Public Utilities Committee and Senate Energy Committee both approved a pair of bills today.
The bills support a settlement between the unit of the Atlanta-based Southern Co. and the PSC. Announced last week, it says Mississippi Power can only earn a profit on $2.4 billion in plant construction costs as well as lignite mine and pipeline costs. The company would sell bonds for anything above $2.4 billion, with ratepayers paying debt costs, with no company profit.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- UPDATED: House subcommittee tosses discrimination elements from religious freedom bill
- Lawmakers debating alternative to Medicaid expansion
- Chris McDaniel gets a thank you note from Travis Childers
- Senate passes teacher pay raise legislation
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Pickering collects more money from failed beef plant project
- States settle with manufacturers in DRAM price-fixing case
- White House hotel making comeback in Biloxi
- Reactive Surfaces files lawsuit against Toyota in patent dispute