MBJ – Brandon Presley: Kemper plant a huge risk to rate-payers

Northern District Public Service Commissioner Brandon Presley spent the better part of 40 minutes addressing the crowd at the Stennis Capitol Press Corps luncheon.

While Presley didn’t break any new ground in his remarks about Mississippi Power Company’s plans to build a lignite coal-fired electric plant in Kemper County, he did reinforce his position that the plant represents a huge financial risk for MPC’s 190,000 customers in South Mississippi.

Specifically, Presley said the mechanism that allows MPC to charge its ratepayers for the cost of the facility as it’s being built — known as Construction Work in Progress financing — is particularly unnerving for him.

“All risks and all costs will be borne by the ratepayer,” he said.

Mississippi Business Journal
6/7/10