Home » Tag Archives: electric generation

Tag Archives: 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 TVA spokesman, told The Tennessean ...

Read More »

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 not meet its state-approved budget ...

Read More »

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 share) after-tax charge related to ...

Read More »

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 way that it needs for ...

Read More »

County could lose millions if SMEPA buys power plant

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 million. It’s not yet a ...

Read More »

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 cash return on construction work ...

Read More »

PSC could rule on Mississippi Power rate-hike request today

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 company is building in Kemper ...

Read More »

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 Public Service Commission could consider ...

Read More »

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

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 $2.76 billion. That’s only $110 ...

Read More »

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 roughly $90.60, beginning April 1. ...

Read More »