Power Co-Op Gets Bond Rating Upgrade After Exiting Kemper Deal
Kemper, MS -
Cooperative Energy and its 11 co-op members will see lower debt costs on $35.4 million bond;
Bailing out of its 15 percent ownership stake in Mississippi Power’s Kemper gasification plant has helped Hattiesburg-based Cooperative Energy gain a ratings upgrade on a $35.4 million bond issue.
The electric power co-op, which changed its name to Cooperative Energy from South Mississippi Electric Power Association in November, received a ratings upgrade from A- to A for its 2009 2009A Mississippi Business Finance Corporation Gulf Opportunity Zone Bonds.
“This rating upgrade reflects the success of our strategy to move from purchased power to owned generation resources, and from coal to natural gas and renewable energy,” said Cooperative Energy President/CEO Jim Compton in a press release. “The result for our members is lower borrowing costs and more favorable rates.”
An “A” rating from Fitch designates the bond issue as “near premium quality.”
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Americans Keep Using Less and Less Electricity
WASHINGTON - By Justin Fox
Economic growth picked up a little in the U.S. in 2017. But electricity use fell, according to data released recently by the Energy Information Administration. It's now been basically flat for more than a decade:
Measured on a per-capita basis, electricity use is in clear decline, and is already back to the levels of the mid-1990s.
Sources: U.S. Energy Information Administration, U.S. Bureau of Economic Analysis
*Includes small-scale solar generation from 2014 onward
I constructed these charts to go all the way back to 1949 in part because I can (that's how far back the EIA data series goes) but…
