Entergy Mississippi cuts rates by $102M as natural gas dips

JACKSON, Miss. (AP) – Entergy Mississippi just can’t cut rates fast enough to keep up with falling natural gas prices, and Mississippi Power Co. isn’t far behind.

The unit of New Orleans-based Entergy Corp. will cut rates by $102 million in coming months on its 442,000 Mississippi customers. For residential customers who use 1,000 kilowatts of electricity per month, bills would fall from $93 now to $82 a month in April. In July, such monthly bills would fall again to $80.

An additional rate cut also appears likely by Mississippi Power Co. In a February filing, the unit of Atlanta-based Southern Co. said fuel costs are projected to be $62 million over earlier forecasts.

Mississippi law calls for utilities to recover fuel costs without profiting, but natural gas prices have repeatedly fallen below predictions.