In a recent development, Mississippi Power has formally filed its rate plan the Kemper County plant. During a Public Service Commission hearing which was held last week, Mississippi Power proposed a 13-15 percent rate increase instead of the current 18 percent. Mississippi Power also committed to giving a one-time $22 credit.

“We view the agreement reached with the Public Utilities Staff as a positive step in reaching certainty on the Kemper assets already in service and providing customers with safe, economic and reliable electricity for more than a year. If adopted by the Commission, we believe the agreement would provide us a path forward to regain access to the credit markets and begin to reestablish the financial viability of our company.” – Mississippi Power CEO Ed Holland

The proposed rate must be approved by the Mississippi Public Service Commission and Mississippi Power is anticipating a decision by December 8, 2015.