MS HB206

Repeals sections 77-3-101, 77-3-103, 77-3-105, 77-3-107, and 77-3-109 that authorized an alternative cost recovery method for base load generation by electric utilities and eliminated the legislative advisory board for that method.

Amends Section 77-3-106 to redefine "generating facility" to include new electric utility base load facilities of 300+ megawatts (coal gasification/clean coal) or 800+ megawatts (nuclear) located in Mississippi and intended to serve retail customers.

Establishes rate mitigation plans allowing utilities to phase in revenue requirements for new generating facilities over up to 10 years, with commission approval and a fixed rate base during the mitigation period.

Brings forward Sections 77-3-113 through 77-3-129 relating to the Mississippi Public Utility Rate Mitigation and Reduction Act, which authorizes financing of qualifying facility costs up to $1 billion through rate reduction bonds with a 20-year maturity maximum.

Establishes procedures for rate reduction bond issuance including 120-day review timelines for financing orders, nonbypassable charges to all customers, true-up mechanisms for adjustments, and restrictions on the Public Service Commission's ability to modify financing orders after issuance.