Posts Tagged ‘electric generation’

Summer rains mean lower TVA power bills

NORTH MISSISSIPPI — The Tennessee Valley Authority says an unusually wet summer has translated into lower electric bills for customers. John McCormick, Tennessee Valley Authority’s vice president for river operations, said in a statement that the rain kept the utility’s hydroelectric dams, which provide the cheapest source of energy, working overdrive. Scott Brooks, a Nashville-based […] [...]

Southern Co. faces questions in Georgia related to Kemper plant

KEMPER COUNTY — A decision to absorb losses on an over-budget power plant in Mississippi may haunt Southern Co. now that it wants regulators to raise its budget for a costly nuclear power plant in Georgia. Southern Co. executives fielded hostile questions today during their first testimony before utility regulators since announcing the firm could […] [...]

Southern’s earnings impacted by increased Kemper plant cost

ATLANTA — Southern Company, the parent of Mississippi Power Co., reports first quarter 2013 earnings of $81 million, or 9 cents a share, compared with earnings of $368 million, or 42 cents a share, in the first quarter of 2012. The first quarter results include two charges against earnings – a $333-million (38 cents per […] [...]

Commissioners give nod to co-op’s purchase of power plant

BATESVILLE and HATTIESBURG — The Mississippi Public Service Commission has approved the $286-million sale of bankrupt LSP Energy to South Mississippi Electric Power Association. Commissioners voted 3-0 yesterday to give Hattiesburg-based SMEPA the right to operate the natural gas-fired power station in Batesville. The order also gives SMEPA the right to acquire any rights of […] [...]

County could lose millions if SMEPA buys power plant

by Associated Press Published: July 30,2012

Tags: acquisition, buy, cooperative, county government, electric generation, electricity, power, purchase, sale, tax, tax base

BATESVILLE — Panola County could lose as much as $4.4 million in future property taxes if South Mississippi Electric Power Association succeeds in its bid for LSP Energy. South Mississippi Electric Power Association (SMEPA) has entered into a purchase agreement in federal bankruptcy court in Delaware to buy all assets of LSP Energy for $249 […] [...]

Fitch downgrades Mississippi Power after PSC blocks rate hike

GULFPORT — Fitch Ratings has downgraded the Issuer Default Rating (IDR) of Mississippi Power Company (Mississippi Power) to “A-“ from “A” and revised the Rating Outlook to “negative” from “stable.” Fitch wrote: “The downgrade is driven by the recent Mississippi Public Service Commission (MPSC) order to deny Mississippi Power’s revenue increase request to earn a […] [...]

PSC could rule on Mississippi Power rate-hike request today

by Associated Press Published: June 22,2012

Tags: coal, electric, electric generation, electricity, power, power generation, Power plant, rate, ratepayer, state agency, utility

KEMPER COUNTY — A rate increase for Mississippi Power Co. customers could be approved today. The Mississippi Public Service Commission will consider a request by the company to raise rates by $58.6 million over the last six months of 20102. That money would start paying debt costs for the $2.76 billion coal-fired power plant the […] [...]

Mississippi Power petitions for rate hike to pay for Kemper plant

KEMPER COUNTY — Mississippi Power Co. wants a 6 percent rate increase to pay for the coal-fired power plant it is building in Kemper County. Jeff Shepard, a spokesman for the Gulfport-based unit of Southern Co., said yesterday that would increase the company’s overall revenue from its 193,000 customers by about $50 million. The Mississippi […] [...]

Mississippi Power’s Kemper plant running $366M over budget

by Associated Press Published: June 13,2012

Tags: budget, coal, construction, construction coasts, costs, diistribution, electric generation, electricity, energy, power

KEMPER COUNTY — As the Mississippi Business Journal’s Clay Chandler reported last week, Mississippi Power Company has told regulators the power plant it is building in Kemper County is $366 million over budget. The overrun would push the total cost of the coal-fired power plant being built by the unit of Atlanta-based Southern Co. to […] [...]

Entergy Mississippi utility bills expected to decrease

JACKSON — Customers of Entergy Mississippi Inc. will likely see their rates drop further in April, May and June, according to the utility. The company recently submitted its routine quarterly fuel adjustment to the staff of the Mississippi Public Service Commission. If approved, the typical residential customer using 1,000 kilowatt hours per month will pay […] [...]

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