The other day I got a letter from my power company……I had to read it a couple of times because I thought I was missing something…….
Gulfport, Miss. – Mississippi Power today filed with the Mississippi Public Service Commission for recovery of financing costs associated with constructing the Kemper County energy facility, which will be used to mitigate and stabilize future rate increases. The filing was made in accordance with the settlement agreement reached on Thursday with the PSC for regulatory procedures related to the Kemper project.
The company has requested to recover $172 million, representing a 21 percent adjustment on total retail revenues. If approved, the typical residential customer using 1,000 kWh a month will see an increase of less than a $1 a day on bills in 2013. (that is $30 increase a month or $360 a year)
“We have worked hard to keep this increase as low as possible,” said Mississippi Power President and CEO Ed Day.
Working with the PSC on the procedures outlined in the settlement agreement and the Mississippi Legislature on legislation allowing alternate financing of a portion of the project, the company anticipates the overall average rate effect of the Kemper project will be approximately 25 percent.
“This is well under the increase we had anticipated and significantly lower than what opponents to the project claimed,” said Day.
It has been more than three decades since Mississippi Power has built a base load generating plant, which runs 24 hours a day, seven days a week. The facility will be fueled by abundant, low-cost Mississippi lignite and will provide reliable electricity to customers at a significantly lower cost than other alternatives.
The Kemper project is nearly 75 percent complete and is scheduled to begin operation in May 2014. The project has created 12,000 direct and indirect jobs during construction. When operational, it will create 1,000 direct and indirect jobs, while also contributing millions of dollars in tax payments to the Mississippi economy.
If approved, the requested increase will go into effect in April 2013.
Mississippi Power, a Southern Company subsidiary, serves approximately 186,000 customers in 23 southeast Mississippi counties.
My state is controlled by Repubs….this should be a given…….interesting in they got a tax break for upgrading, they got a tax break for hiring…..and yet they want the consumer to pay for their building……it is opened by the Southern Company, a for profit company and yet they want me to pay for their new building, while they will be charging me about $350 more a year for their service…..and will remain in effect after the construction completion……..this is the same company that fought any clean air additions saying that it would be bad for the consumer because they would have to pass along the cost……..isn’t capitalism a great thing?