JACKSON, MS (WLOX) - A refund plan submitted by Mississippi Power Company was approved today by the Mississippi Public Service Commission. The refund comes from an approximate 18% increase that's been collected by the power company for the past two years to help pay for the Kemper County power plant. That rate increase was recently ruled invalid by the state Supreme Court.
The amount to be refunded is approximately $350 million. The power company has 60 days to identify and notify all their customers of the refund process. After that, refunds should begin and end within another 60 days.
Most people will have either a credit or check in hand by December 4. The default option will be a credit. In order for customers to receive a check, they'll have to ask for it.
Doug Walker is covering the story and will have details later today on WLOX News and on WLOX.com.