The Kemper County Lignite Plant is a cancer in Mississippi's economy. Bigger Pie has done an extensive body of work regarding the Kemper Plant through the years. From the beginning, the plant's additional capacity was not needed. For years, the building of this plant soared over budget and time constraints ending up costing over $7 billion and 7 years to construct a plant which ultimately did not work.
This version of Stein’s Law could be about lots of long running Ponzi schemes. But this is about Mississippi Power’s Kemper County Lignite Plant’s big brothers — two nuclear power plants (Vogtle) under construction in Georgia and their Southern Company daddy. And about regulatory systems that prop up an archaic business model that puts interests of utilities and their shareholders ahead of customers.
Residents of the Mississippi Gulf Coast must be breathing a sigh of relief with the news from the Southern Company in Georgia.
Now that regulators have ruled in favor of ratepayers in Mississippi, the Southern Company needs some cash to cover its losses.
Peak idiocy is an apt description of the Kemper County Lignite craze that possessed a former governor, the Mississippi Public Service Commission before the last election, and other notables. I borrowed the term from a recent article in Investor’s Business Daily entitled “Goodbye, OPEC” which asked this question: “Doesn’t it seem like yesterday when the left was running around shrieking about ‘peak oil?’ More like peak idiocy.” Not just the left, it seems.
Bigger Pie Forum commissioned a study of the structure of PSCs around the country. Among its many discoveries, the study found that Mississippi’s arrangement, which has an investigative staff that is a separate entity from the PSC, is unique among the states.
The Mississippi Legislature is choosing sides in the fight between Mississippi’s Attorney General and Public Service Commission. The fight is over $600 million of over-charges by Entergy Mississippi to its customers for high cost electricity from its sister companies in other states.