Legislators pushing for bonds to cover Kemper plant costs
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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Peavey's wellness program honored after workers drop 1,000 pounds
- Group, lesbian couples look to overturn state's ban on same-sex marriages
- Pickering lists concerns over Mississippi Adequate Education Program formula
- Watkins says JRA out to block him from Farish by repaying HUD $1.5M
- Mississippi Film Studios signs contract with New Orleans company
- State renews battle over water use with city of Memphis
- Mars Food expanding Delta plant; investing $31M and adding jobs
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- Biloxi baseball project still alive but may be held for 2015