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Tag Archives: Mississippi Power Company

BREAKING NEWS: Second agency cuts Mississippi Power Co.'s credit rating

JACKSON — Another credit rating agency has downgraded its view of Mississippi Power Co. Two of the three major agencies have now cut ratings after the Mississippi Public Service Commission denied Mississippi Power a rate increase to pay off debt during construction of its $2.8 billion Kemper County power plant. Moody’s Investors Service cut its rating on about $1 billion ...

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PSC to examine formula rate plans for Entergy, MPC

The Mississippi Public Service Commission voted 3-0 last week to begin an examination of the formulas used to calculate return on equity for Mississippi Power Company and for Entergy Mississippi. Return on equity (ROE) is the amount of net income returned as a percentage of shareholders equity. It is used to measure a corporation’s profitability by revealing how much profit ...

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Read August 13 issue of MBJ

>> CLASS CRUNCH Experts: Troublesome nursing faculty shortage to get worse— By Clay Chandler Also in this week’s paper: >> KEMPER UPDATE PSC to examine formula rate plans for Entergy, Miss. Power— by Clay Chandler >>TECHNOLOGY Google shares the ‘how-to’s’ of getting your business online— by Ted Carter >>MDA New chief cites potential in energy, medical sectors— by Ted Carter >> ...

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Supreme Court denies Miss. Power’s rate increase (Updated with clarification)

Mississippi Power is now 0-2 when it comes to collecting money to pay for its Kemper County coal plant. The Mississippi Public Service Commission in June denied a 13 percent rate increase that would have generated about $58 million. The company quickly appealed to the Mississippi Supreme Court, which affirmed the PSC’s ruling Tuesday afternoon. The court voted 8-0 to ...

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Mississippi Power appeals rate hike denial

A few hours after a second overrun for its Kemper County coal plant was revealed, Mississippi Power Co. said last week it was appealing the Public Service Commission’s denial of a rate increase the company had requested to help pay for the facility. The company appealed the PSC’s order to the Mississippi Supreme Court. On June 22, commissioners voted 3-0 ...

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Kemper coal plant costs surge again

The Kemper coal plant’s Independent Monitors’ Report for the period through the end of May shows the project has crept closer to the $2.88 billion cap the Public Service Commission imposed on it. Monitors, hired by the Commission to oversee construction, now estimate that the cost to build the lignite coal-fired generation facility will reach $2.822 billion. It’s the second ...

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Read July 16 issue of MBJ

>> A LOSING PROPOSITION Mississippi hospitals face yearly $152M loss if Medicaid expansion rejected — By Ted Carter Also in this week’s paper: >> MEDICAID Health Policy Center, medical groups study Medicaid expansion— by Ted Carter >> ABORTION Fondren businesses tired of politically charged street corner by Stephen McDill >> CONSTRUCTION Kemper coal plant costs surge again by Clay Chandler >> ...

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MBJ readers vote overwhelmingly against rate increase for Mississippi Power Company

Mississippi Business Journal readers, so far, are overwhelmingly against Mississippi Power Company being awarded a rate increase which would help pay for the Kemper County coal plant. Mississippi Power is appealing to the Mississippi Supreme Court the Public Service Commission’s decision not to act on rate increase requests until the litigation surrounding the facility is finished. To this point, 89 ...

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PSC looking into timing, amount of Kemper County Coal Plant overrun

Sixteen days after the Mississippi Public Service Commission reapproved the certificate of public convenience and necessity for Mississippi Power Co.’s Kemper County coal plant, the company revealed to independent monitors an anticipated $366 million cost overrun for the project. The revelation was included in monitors’ May report, which says MPC officials broke the news on May 10. The PSC reissued ...

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