Dive Summary:

• On Tuesday, the Mississippi Public Service Commission (PSC) approved a $22.3 million rate increase for Entergy Mississippi, a unit of Entergy Corp, bringing the amount of rate hikes approved for the utility to three in the last year alone.
• The current rate increase is meant to counteract Entergy’s return on equity (ROE) which fell to 8.96% in 2012. "Under a rate formula, Entergy is allowed to earn an ROE in a band between 9.76% and 11.83%," the Commercial Appeal reports. Tuesday's decision will boost its return to 10.59%.
• The last two rate increases covered higher natural gas costs, the acquisition of a Jackson power plant and the purchase of part of the Grand Gulf nuclear plant from sister company Entergy Arkansas.

From the article:

"Entergy has operated under a formula rate plan since 1994. This is the first time since 2009 that the company will raise rates because of the formula. The company had initially sought an increase of $37 million, but agreed to a lower amount after negotiations with the Public Utilities Staff."