Holland Makes Pitch for 22 Percent Rate Hike

By: The Associated Press
By: The Associated Press

Jackson, Miss.

Mississippi Power Co.'s 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 Thursday meeting that shareholders will eat hundreds of millions in cost overruns under that scenario.

The newspaper says opponents of the plant said they don't believe any of the company's projections, and that drastic power bill increases for years to come will likely pay for the plant.

Projected costs for the plant have risen from $2.4 billion to $4.7 billion as it nears completion, expected in May 2014.

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