Power Co. aims for rate hike

Saying it’s running short of cash and can no longer borrow without the support of its parent company, Mississippi Power Co. is trying again for a rate increase to help pay for the $6.2 billion power plant it’s building in Kemper County.

The unit of Atlanta-based Southern Co. asked the Mississippi Public Service Commission on Friday to act within days to prevent an 18 percent rate increase from rolling off bills on July 20. The $159 million-a-year raised by that rate had been going to pay for Kemper, but the state Supreme Court ruled it was illegal in February.