MS Power’s $1-billion bond bill could be taken up this week

Senate Bill 2755, the “Mississippi Public Utility Rate Mitigation and Reduction Act,” ?and its companion, House Bill 1134, are likely to be taken up early this week.

These bills would allow Mississippi Power Company (via a “special purpose entity”) to sell up to $1 billion in bonds to help fund its almost $4-billion clean coal plant under construction in Kemper County.

These bonds would be the responsibility of Mississippi Power’s 186,000 customers in its 23-county service area in Southeast Mississippi.

Both Lt. Gov. Tate Reeves and House Speaker Philip Gunn have the power to recommit bills to their respective committees or pass over them. Any bills that don’t receive floor action by Feb. 14 automatically die.

Bigger Pie
2/5/13