Mississippi Power Company raising rates
Mississippi Power customers will see electricity rates go up about nine percent starting in September.
Today, the state public service commission approved general rate increases as well as specific increases tied to environmental compliance costs. The unit of Atlanta-based Southern Company will collect about $77 million more through the end of 2019 in a settlement meant to cover 2018 and 2019.
A residential customer who uses 1,000 kilowatt hours of electricity per month would see bills rise from $128 monthly to more than $139 month. The increase is lower than the company originally sought, in part because of federal corporate tax cuts approved last year.
Mississippi Power plans to file an overall rate case in 2019 and some items disputed in Tuesday’s deal won’t be settled until then. Mississippi Power Spokesman Jeff Shepard said, “What we really have today for our customers is this, they got rate stability between now and 2020. There will not be any other pep or eco related increases until at least 2020. This is the first pep increase that we have had since 2013. We have not raised our base rate prices in almost five years.”
Almost five percent of the increase is related to the investments made by the business to provide service to their customers. The rest of the nine percent is federally mandated environmental regulations.