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July 28, 2015 10:47 AM ET

Electric Utilities

Company Overview of Mississippi Power Co.

Company Overview

Mississippi Power Company, a vertically integrated utility, provides electricity to retail customers in the State of Mississippi and to wholesale customers in the Southeast. The company is involved in the generation and purchase, transmission, distribution, and sale of electricity. It generates electricity through natural gas powered plants. Mississippi Power Company sells its electricity at retail in 123 communities, including Biloxi, Gulfport, Hattiesburg, Laurel, Meridian, and Pascagoula, as well as in rural areas; and at wholesale to 1 municipality, 6 rural electric distribution cooperative associations, and 1 generating and transmitting cooperative. The company was founded in 1924 and i...

2992 West Beach Boulevard

Gulfport, MS 39501

United States

Founded in 1924

1,478 Employees

Phone:

228-864-1211

Key Executives for Mississippi Power Co.

Chairman of the Board, Chief Executive Officer and President
Age: 62
Chief Financial Officer, Vice President and Treasurer
Age: 50
Executive Vice President of Operations
Age: 51
Chairman of Southern Company, Chief Executive Officer of Southern Company and President of Southern Company
Age: 58
Vice President, Associate General Counsel and Corporate Secretary
Compensation as of Fiscal Year 2015.

Mississippi Power Co. Key Developments

The Mississippi Supreme Court Denies Motions for Rehearing Filed by Mississippi Power, Mississippi Public Service Commission on Kemper Decision

The Mississippi Supreme Court on June 11 denied motions for a rehearing filed by Mississippi Power Co. and state regulators related to the court's February decision invalidating rate increases for the utility's integrated gasification combined-cycle project in Kemper County. The February decision by the court ruled the Mississippi Public Service Commission had exceeded its authority in granting millions of dollars in rate increases to help pay for the over-budget and long-delayed IGCC generation project formally known as Plant Ratcliffe. Mississippi Power has estimated the amount it has to refund ratepayers at approximately $257 million. The rate hike was approved by Mississippi regulators in 2013 to help pay for Kemper, costs for which have ballooned from an initial estimate of $2.2 billion in 2009 to a projected cost of $6.22 billion. In March, Mississippi Power and the PSC filed motions for a rehearing of the court's decision, arguing it had been based on a "misunderstanding" of the commission's authority and that the PSC does have the authority to adjudicate ratemaking and develop new ways to regulate under the state's Public Utility Act. But the court on June 11 reaffirmed its decision overturning the rate increases for Kemper and criticized the PSC for conducting "public business in private" in a prior rate settlement. Because the commission lacked the authority to enter into what the court described as a private rate settlement agreement, according to the decision, the agreement is unenforceable.

Mississippi Power Plans to Expand Renewable Generation Portfolio with Origis Energy

Southern Company subsidiary Mississippi Power is planning to expand its renewable generation by teaming up with Origis Energy. The two companies are working to develop a 52 megawatt solar project in Sumrall, Miss., pending approval by the Mississippi Public Service Commission. Mississippi Power will reserve all the energy generated by the project. If approved, it could be in service near the end of 2016.

Mississippi Power Co. Appoints Nicole Faulk as Vice President of the Customer Services Organization, Effective May 4, 2015

Mississippi Power named Nicole Faulk as vice president of the customer services organization, effective May 4, 2015. Faulk will be responsible for all customer related activities including customer accounting, customer call centers, engineering, transmission, distribution and marketing and will report to Executive Vice President of Operations Anthony Wilson. Most recently Faulk served as vice president of Georgia Power's West Region, where she led the company's operations for more than 140,000 customers in a 19-county area. Faulk joined Southern Company in 1998 as an engineer in Southern Nuclear's professional development program. She subsequently completed senior reactor operator training and held positions of increasing responsibility at Farley Nuclear Plant in Alabama and in the development of Georgia Power's Vogtle 3 and 4 project, the first new nuclear power plants to be built in the United States in more than 30 years.

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