New York, August 05, 2014 -- Moody's Investors Service said that yesterday's announcement that Mississippi Power Company (Baa1 stable) had reached a settlement agreement with the Sierra Club with regard to the Kemper County integrated gasification combined cycle (IGCC) plant and certain other matters is credit positive, as it removes a significant legal and regulatory hurdle to the completion and commercial operation of the Kemper plant. The Sierra Club had filed motions contesting or otherwise opposing the Kemper plant's certificate of need, air permit, seven-year rate plan, as well as the review of prudency currently ongoing at the Mississippi Public Service Commission (MPSC). In addition, the MPSC denied the company's proposed rate schedule for the recovery of financing costs during construction pending a ruling on the Sierra Club's challenge to the plant's certificate of need. The settlement may also help facilitate discussions between the company and the MPSC on rate mitigation.

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