Dive Summary:
- Mississippi Gov. Phil Bryant on Tuesday signed a bill allowing Mississippi Power to sell $1 billion in bonds to cover the costs of the Southern Co. utility's Kemper County power plant as the result of a settlement with the Public Service Commission.
- A second bill signed by Bryant on Tuesday mentions a new rate plan, which Mississippi Power filed for later in the day.
- The Sierra Club opposes the Kemper plant, which is expected to become operational by April 2014.
From the article:
"... The settlement says Mississippi Power can earn profit on $2.4 billion in plant costs as well as $377 million in lignite mine and pipeline costs. Customers would repay up to $1 billion in bonds issued by a company subsidiary to cover plant costs above $2.4 billion, but Mississippi Power would earn no profit. ..."
