House members are blessing a settlement between the Public Service Commission and Mississippi Power Co. over the company's Kemper County plant.
The House voted 90-26 Friday to allow Mississippi Power to sell up to $1 billion in bonds to pay for construction and financing costs over $2.4 billion. The body voted 100-17 to let the PSC approve a multi-year rate plan for the plant.
The measures go to the Senate, where similar bills pend.
The settlement between the unit of Atlanta-based Southern Co. and the PSC says Mississippi Power may only earn profit on $2.4 billion in plant construction costs as well as lignite mine and pipeline costs.
The utility would sell bonds for anything above $2.4 billion. Ratepayers would repay debt, but the company would make no profit.
"Today’s action by the House takes us one step closer to saving Mississippi Power customers $1 billion or more." said Mississippi Power spokeswoman Cindy Duvall. "The Kemper County energy facility is creating thousands of good-paying jobs, contributing over $70 million in taxes and will continue to add tremendous value to customers and to the economy of the region over the life of the plant. This is a Mississippi project, using Mississippi resources and Mississippi labor in developing clean, efficient, low-cost Mississippi-fueled energy."
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.