Presley Passes “Rate Reduction, Job Creation Plan” for New Small Businesses

Jackson, MS (August 4, 2011) - Northern District Public Service Commissioner Brandon Presley announced today that utility companies have responded to his request to craft incentives to encourage small business development and job creation in Mississippi.  Entergy Mississippi, Atmos Energy Corporation, CenterPoint Energy Resources and Wilmut Gas & Oil Company have laid out specific incentives, such as reduced rates, waived security deposits and encouragement of existing vacant building development that will go into effect on or before September 9th. Mississippi Power Company’s plan for small businesses will be filed in the coming days.
"I understand how important small businesses are and how their owners struggle to cut overhead costs and to create jobs," Presley said.  "Every dime they can save helps them expand their operations, hire more employees, keep the door open and provide services to our communities.  Too many times, the big corporations get all the incentives, while the small businesses, who don't ship American jobs overseas while avoiding taxes, get forgotten. I wanted to do something about that and help encourage small business development." Presley said that the Commission will soon introduce a similar measure for existing small businesses. He said getting that measure passed would take more time, but hoped to have it completed within the next month. Attached to this press release is a listing of rate incentives by company provided to new small businesses, effective on or before September 9th.       

 ATTACHMENT TO COMMISSIONER BRANDON PRESLEY PRESS RELEASE,AUGUST 4, 2011 The following rate incentives for job creation will go into effect on or before September 9, 2011 ·  

Entergy Mississippi, Inc.       

•  Net Monthly Rate (base rate) reduced by 15% for 24 billing months for those who take service before December 31, 2012       
• Security deposit may be paid in 3 monthly installments and may substitute a surety bond or letter of credit for deposits of $2000 or more      
• Applies to new small businesses that open in buildings that have been unoccupied for at least preceding 6 months ·        

Mississippi Power Company                 

• Plan to be filed within the next few days   ·  

Atmos Energy Corporation       

• Customer charge and distribution charge (non-fuel charges) reduced by 25% for 12 billing months for those who take service before September 1, 2013       
• Security deposit is waived       
• Applies to any new customer account under the applicable commercial Rate Schedule 305  ·  

CenterPoint Energy Resources Corp.       

• Base rate (non-fuel charges) reduced by 15% for 12 billing months for those who take service before January 1, 2013       
• Security deposit reduced by 50% (CenterPoint already allows bonds and letters of credit to secure deposit)      
• Applies to new small businesses that open in buildings that have been unoccupied for at least preceding 6 months ·        

Wilmut Gas & Oil Company        

• Entire customer charge (including fuel costs, excluding service charges) reduced by 7% for 1 year for those who take service before January 1, 2013     
• May substitute a surety bond or letter of credit for deposits       
• Applies to new small businesses that open in buildings that have been unoccupied for at least preceding 6 months