Mississippi Power Increases Electricity Rate by 9%

Mississippi Power

Mississippi Power Increases Costs

On Tuesday, August 7th, 2018, the Mississippi State Public Service Commission approved a general electricity rate increase for Mississippi Power Co. This means that if you are a customer of Mississippi Power Co., your utility rates are going to increase by 9%. That could be a significant change, depending on how much electricity you use per month.

Mississippi Power CEO Anthony Wilson stated that the increased rates will help the company provide better service. He said it will provide “… our business with the infusion of resources needed to continue to provide the safe and reliable energy (to) our customers…”

Company officials said that the increase was accepted partly to improve the company’s credit rating. This was caused during the construction of a $7.5 billion Kemper County power plant. The company lost $6.4 billion due to downgrades during construction.

 New Electricity Rate Starting 9/1/2018

The new rates will allow the company to earn $77 million more from September 2018, to December 2019. That’s two years worth of revenue in over 16 months. The company will not ask for any more increases in environmental and overall rates through 2020.

Predictably, customers of Mississippi Power are unhappy with the increase in costs. “I’m going to give you the feedback I’ve gotten from the people…” District Commissioner Sam Britton said. “The cost is high. Rates matter.”

Unfortunately, the cost of energy is only more and more likely to increase as time goes on. Utility companies rely on fossil fuels for power. Then their own businesses send the same power to their customers. But the process of creating this energy does more harm than good. Harvesting these fossil fuels causes environmental damage. And refining them also causes pollution. As the sources inevitably start to go dry, energy facilities will be forced to raise their rates to stay in business. It is vital that people begin looking towards renewable energy sources to mitigate such costs.

Solar as an Option

Solar energy is a fantastic way to provide your home with clean, renewable, and free energy. Using energy that is controlled only by you and the sun will give you independence and freedom from the costly power bill. Your overall savings will increase dramatically, and you will have one less monthly expense you’ll have to worry about. If you have any questions regarding solar, please reach out to our Sunpro Solar consultants. They will be happy to answer any questions you may have.

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