Gulfport, Miss. – Mississippi Power today made two annual rate filings as required by the Mississippi Public Service Commission. The company filed its Performance Evaluation Plan (PEP) base-rate review and fuel cost adjustments.
The company is seeking a 4.0 percent increase in its PEP filing and a 4.5 percent increase in fuel costs for a total of 8.5 percent. These filings would result in a residential customer using 1,000 kWh of electricity per month seeing an increase of $11.45 per month, or less than 40 cents per day. The company has not had a PEP increase since 2013.
“We have been able to provide our customers with industry-leading customer service and performance without asking for a rate increase over the last four years,” said Mississippi Power President and CEO Anthony Wilson. “While our employees have found efficiencies in our operations companywide, these filings are necessary to deliver the level of service our customers expect.”
The PEP filing details the costs of operating and maintaining company facilities such as the poles, wires, substations, generating plants and staff. The plan is not designed to address major capital costs such as the addition of new generating plants, like the Kemper County energy facility, or major environmental control equipment.
Additionally, each year the Commission adjusts Mississippi Power’s prices up or down to reflect changes in the cost of fuel used by the company to generate electricity. Mississippi Power does not earn a profit on these costs, which is reflected dollar-for-dollar in customers’ bills.
Mississippi Power, a subsidiary of Southern Company (NYSE: SO), produces safe, reliable and environmentally responsible energy for nearly 187,000 customers in 23 southeast Mississippi counties. Mississippi Power ranked first in the Southeastern Electric Exchange’s 2016 Safety Performance Reports and is consistently recognized as an industry leader in reliability, customer service and safety. Visit our websites at www.mississippipower.com and www.mississippipowernews.com, like us on Facebook, and follow us on Twitter, LinkedIn, Google+ and YouTube.