Kemper not finished, but Mississippi Power to file rate plan

By The Associated Press

Mississippi Power Co. says it will file plans Monday for customers to pay their share of its $7.3 billion Kemper County power plant, even though the plant isn't finished.

 

GULFPORT, Miss. (AP) — Mississippi Power Co. says it will file plans Monday for customers to pay their share of its $7.3 billion Kemper County power plant, even though the plant isn't finished.

The unit of Atlanta-based Southern Co. didn't yet have a cost update in a Wednesday statement, after Mississippi Power pushed back Kemper's completion date for the 10th time in 18 months. The utility is struggling to reliably run the plant.

Customers could be asked to pay more than $4.3 billion. Southern shareholders have lost $2.9 billion.

Mississippi Power will file with the Public Service Commission, whose three elected members ultimately decide how much customers pay.

The company has said it will file two plans— one requiring a sharp, immediate rate increase, and a "rate mitigation plan" that might cushion increases.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs