At the state capitol Friday, an agreement was reached involving the Public Service Commission and Mississippi Power. State House members voted to allow Mississippi Power to sell up to $1 billion in bonds to pay for any construction and financing costs, above $2.4 billion.
The settlement says Mississippi Power can only earn a 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 that amount.
A spokesperson for Mississippi Power said, "We are very pleased with the decision of the Mississippi House of Representatives to stand up for the customers of Mississippi Power and vote to keep customers' cost of electricity as low as possible. Today's action by the House takes us one step closer to saving Mississippi Power customers $1 billion or more."
Tuesday, April 20 2010 11:21 PM EDT2010-04-21 03:21:00 GMT
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