Southern Company’s Mississippi Power plans to do a utility securitization to recover the financing costs related to construction of its $3 billion coal-gasification power plant Kemper County.
The company has requested to recover $172 million, representing a 21 percent adjustment on total retail revenues. If approved, the typical residential customer using 1,000 kWh a month will see an increase of less than a $1 a day on bills in 2013.
"We have worked hard to keep this increase as low as possible," said Mississippi Power president and CEO Ed Day, in a press release.
The utility company filed for approval on the financing plans last Friday with the Mississippi Public Service Commission.
