MS SB2500

Authorizes the Mississippi Public Service Commission to approve a "rate mitigation plan" that phases in revenue requirements for newly constructed electric generating facilities over a period not to exceed ten years.

Requires electric utilities to file rate mitigation plan petitions no earlier than twelve months before a generating facility begins commercial operation and limits the plan's scope to costs and revenues directly associated with the new facility.

Mandates the commission establish an initially approved rate base and allow recovery of a return not exceeding the weighted cost of capital on any unrecovered or deferred amounts during the rate mitigation period.

Prohibits changes to the rate mitigation plan during the rate period and excludes the facility's revenues, investment, and expenses from other rate proceedings; the plan becomes binding once final and all appeals expire.

Allows rates in effect at the end of the rate mitigation period to remain until modified through standard regulatory proceedings.