Years of contention and threatened additional electric rate increases have ended as utility regulators approved a settlement declaring how much Mississippi Power Co. customers should pay for their share of a troubled $7.5 billion power plant.
Once touted as a model for the future of coal, the state Public Service Commission forced the unit of Atlanta-based Southern Co. to quit construction on the Kemper County plant in 2017, with shareholders losing about $6 billion.
Residential customers will pay about three dollars less per month than they now pay for part of the power plant burning natural gas.
Hattiesburg oilman Thomas Blanton still opposes the deal. Most other Kemper foes have signed on.
Because of corporate income tax cuts, payments from ratepayers would fall more than originally projected.
The Kemper County power plant is one of the most expensive power plants ever built. It's more than two years past it's projected deadline and it's four billion over budget.
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