Mississippi Power files for price increase (Updated 11 a.m.)

Mississippi Power has filed documents with the Public Service Commission to raise rates to its customers for 2012, the company said today in a press release.

The power company is asking for an 11.35 percent price increase, said company spokeswoman Cindy Duvall.

Duvall said Mississippi Power made three separate filings late Tuesday. Two were for increases and one was for a decrease in fuel costs. The majority of the increase is for the plant under construction in Kemper County.

"This is the financing cost while the project is under construction," Duvall said. "These costs are being covered up front. It would be significantly higher if we waited until the plant is completed."

The PSC will decide if and when the price increases go into effect.