Thursday, May 21, 2015

SMEPA quits Kemper project

The South Mississippi Electric Power Association withdrew its support from Mississippi Power's Kemper project.  SMEPA agreed in 2010 to purchase a stake in the project for $500 million.  The Sun-Herald reported:

South Mississippi Electric Power Association is no longer interested in buying a piece of the power plant being built in Kemper County by Mississippi Power.

According to a release from the cooperative, its board of directors voted Wednesday to end pursuit of an ownership interest in Plant Ratcliffe. It said delays in the project, changing needs and increased participation costs led to its decision.

Coast Electric and Singing River Electric Power Association are members of
the cooperative.

It had planned to buy 17.5 percent of the plant, which will use synthetic gas derived from lignite to produce electricity, but said studies now show the cost has increased such that it would no longer be a good deal for ratepayers, the release said.

"We entered into the purchase agreement in 2010," said Jim Compton, the cooperative's general manager and CEO. "Since then, there have been multiple changes in the project, and also changes in our power supply needs. The board determined that proceeding to closing was not in SMEPA's best interests, and we needed to let (Mississippi Power) know so that alternate plans could proceed."

SMEPA announced is purchase agreement in this 2010 statement:



Read more here: http://www.sunherald.com/2015/05/20/6236992/south-mississippi-power-association.html#storylink=cpy

8 comments:

Anonymous said...

Word to SMEPA, what took you so long? Look, you're in the energy biz. You should know that when someone pitches an "alternative" energy project, an energy association should say "no-way" immediately. Your not a venture capital group whose job it is to take risk. You did wake up though. Close call. And next time Haley Pitches you an idea....RUN!

Anonymous said...

What other entities were considering an ownership stake and what are their plans now?

Anonymous said...

Can I quit MS Power? Oh I can't, they're a monopoly... THANKS FOR LOOKING OUT PSC

Anonymous said...

These BS full page ads Ms.Power is now running in the Clarion Ledger and SunHerald are useless. They will never convince even one ratepayer or person, except Haley Barbour because his convincing can be bought, that they are a competent organization. I guess the next letter the ratepayers get will be a threat to increase the cost of power 75% because SMEPA woke up from the nap they must have been taking for the last 3 years. What this are doing to economic development should be a crime. Was is also discussing is the paid religious endorsement in the paper by the group of pastors who are supporting the Kemper project. These situations are always about money, not the welfare of the common citizen that has been taken advantage of by the powers that can.

Anonymous said...

Funny how Bentz and gang talk about smaller government and personal responsibility. Yet they feed at the government trough. If not for political favors and public funds they would be the welfare recipients they claim to despise.

Anonymous said...

Never under estimate the kool aid of 'the third way'.
As a matter of fact, I'm pretty sure this very think tank is what got us into all of this bs.



http://powerbook.thirdway.org


Very very liberal policies for policy makers.

Anonymous said...

I heard it was a good deal for everyone on the Gallo show on Supertalk.

Anonymous said...

Jim Compton was always a capable guy. Glad he is doing what is right for his ratepayers. Wish the MPSC would do the same.

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In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

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This is definitely a Beaver production.


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Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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