MS HB1138

Creates new Section 77-5-256 of Mississippi Code establishing provisions for generation and transmission cooperatives (G&T cooperatives), defined as wholesale power supply cooperatives whose members are retail electric service providers with certificates of public convenience and necessity.

Allows G&T cooperatives to amend their certificate of incorporation with a two-thirds affirmative vote of the board of directors, without requiring member approval, for changes including corporate name, number of directors, or other provisions.

Establishes that G&T cooperatives shall have a board of directors with two directors per member (the general manager or chief executive and a sitting board director), plus up to three at-large directors elected by the board, with all directors serving three-year terms and eligible for compensation and expense reimbursement.

Grants G&T cooperatives the power to operate across state lines, provide capacity and energy to regional transmission markets and independent system operators, provide operational support to members in accounting, legal, regulatory, and engineering areas, and establish membership fees fixed by the board.

Limits G&T cooperative regulation by the Mississippi Public Service Commission to specific code sections (77-3-11, 77-3-13, 77-3-14, 77-3-23, 77-3-25, 77-3-27, and 77-3-45) while acknowledging their subjection to federal agencies and regional transmission organizations; effective July 1, 2016.