Posts Tagged ‘utility’

Mississippi Power CEO talks about rate hike for Kemper plant

KEMPER COUNTY — Mississippi Power Co. CEO Ed Holland has told a Mississippi newspaper that if a 22 percent rate hike is approved to pay for its Kemper County power plant, the company won’t try to hit up customers for more. Holland told The Clarion Ledger in a meeting yesterday that shareholders will eat hundreds […] [...]

Demand waning, TVA won’t ask to raise loan limit

by Associated Press Published: September 3,2013

Tags: borrowing cap, Congress, demand, electricity, energy, federal governmwnt, loan, power, Tennessee Valley Authority, utility

NORTH MISSISSIPPI — The Tennessee Valley Authority won’t ask Congress to raise its borrowing cap for at least the next 10 years. The Chattanooga Times Free Press reports that the federal utility says it anticipates being able to reduce its net borrowing in the next two years and reduce its debt over a decade by […] [...]

Entergy shuttering Vermont’s only nuclear plant

MONTPELIER — Vermont’s only nuclear power plant will shut down by the end of next year, ending a nasty legal battle over the future of the 4-decade-old plant, Entergy Corp. announced today. The Vermont Yankee Nuclear Power Station is expected to cease power production after its current fuel cycle and will begin being decommissioned in […] [...]

TVA raises base rate; first hike in two years

by Associated Press Published: August 22,2013

Tags: base rate, electricity, energy, light bill, power, power bill, rate hike, Tennessee Valley Authority, utility

NORTH MISSISSIPPI — The Tennessee Valley Authority is increasing its base rate by 1.5 percent, the first increase by the nation’s largest public utility in two years. The agency’s board of directors approved the hike and a $10.5 billion fiscal year 2014 budget at its meeting today. The new fiscal year begins Oct. 1. The […] [...]

Weather driving down TVA electricity bills

NORTH MISSISSIPPI — A cool, wet summer continues to benefit TVA power customers in the seven-state region. Tennessee Valley Authority spokesman Scott Brooks said today that the utility is reducing its fuel adjustment charge in September to the lowest level since March 2012. The levy will fall from the current 2.22 cents per kilowatt hour […] [...]

Entergy, ITC retool agreement in the face of opposition

NEW ORLEANS — Faced with likely rejection because of procedural reasons, Entergy Corp. and ITC Holdings Corp. have withdrawn their Texas application to merge transmission systems. The move came at the end of an hours-long hearing Friday in Austin, Texas, before the state’s Public Utility Commission. New Orleans-based Entergy and Michigan-based ITC are trying to […] [...]

TVA buys majority share of power plant for $400M

SOUTHAVEN — The Tennessee Valley Authority has made a lease-purchase agreement to buy the majority share of a natural-gas fired power plant in Southaven. TVA and Seven States Power Corp., a group owned by TVA distributors, had bought the Southaven Combined Cycle Plant just south of Memphis in 2008. TVA owned 10 percent, while Seven […] [...]

After abrupt retirement, Mississippi Power still paying Day as consultant

GULFPORT — Even though Ed Day retired abruptly as Mississippi Power’s president earlier this year, he’s still getting paid. Day is being paid $150,000 a year for three years as a consultant, according to a stock filing by the Southern Co., the Atlanta-based parent of Mississippi Power. That’s in addition to his company retirement. The […] [...]

Entergy’s earnings plummet, utility will cut 800 jobs

by Associated Press Published: July 30,2013

Tags: electricity, employee, energy, Entergy Corp., layoff, loss, publicly traded company, utility, worker

NEW ORLEANS — Entergy Corp. said its second-quarter net income dropped 55 percent, weighed down by higher expenses and absent a favorable tax ruling received during the prior-year period. The New Orleans-based utility also said today that it is cutting about 800 jobs, or about 5 percent of its workforce of 15,000. It says that […] [...]

OIG finds missed audits at TVA’s nuclear plant

by Associated Press Published: July 23,2013

Tags: audit, electricity, energy, nuclear energy, Office of Inspector General, Tennessee Valley Authority, utility

KNOXVILLE — A report by the Tennessee Valley Authority’s inspector general says the federal utility missed quality assurance audits at the Watts Bar Nuclear Plant. According to the Knoxville News Sentinel the Office of Inspector General said no audits were done on commercial-grade materials being used to build Unit 2 at the power plant in […] [...]

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