Northern District Public Service Commissioner Brandon Presley says he'll ask for a formal inquiry into what he calls the excess accumulation of money being held by electric power associations in the state.
He said the state requires the association to give the money back to its members. Those on the Coast do that, according to the release from Presley's office. But there is another $114 million that is not being returned to customers, he said.
Unlike customers of large investor-owned electric utilities such as Entergy and Mississippi Power, power association customers are the owners of the utility, the release said.
Presley said he plans to ask for a formal inquiry by the full Public Service Commission and Public Utilities Staff at tomorrow's Commission meeting.
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As reported to the Commission, the state’s 25 power associations accumulated funds totaling $161,807,074.14 in the last filing year.
Of those, seven returned a total of $47,046,381.00 to their customers in the last reported year due to excess
- Coast EPA ($13,270,686.00)
- Delta EPA ($3,886,754.00)
- Dixie EPA ($7,628,627.00)
- Magnolia EPA ($1,809,466.00)
- Pearl River Valley EPA ($8,807,708.00)
- Singing River EPA ($11,443,129.00), and Southwest Mississippi EPA ($200,011.00).
"While everyone recognizes that power associations need to have rainy-day funds, there simply is no excuse for not returning excess dollars above and beyond that to the customers. It seems that some have been following the law and some haven't. It's time to get the customers' money back in their pockets." Presley said.