UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) ~~November~~February 2625, ~~2019~~2020



Commission File Number	Registrant, State of Incorporation, Address and Telephone Number	I.R.S. Employer Identification No.



001-11229	Mississippi Power Company	64-0205820

(A Mississippi Corporation)

2992 West Beach Boulevard

Gulfport, Mississippi 39501

(228) 864-1211

The name and address of the registrant have not changed since the last report.

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:



☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On ~~November~~February 2625, ~~2019~~2020, Mississippi Power Company (“Mississippi Power”) ~~filed~~and athe ~~base~~Mississippi ~~rate~~Public ~~case~~Utilities Staff (together with Mississippi Power, the “~~2019~~Stipulating ~~Base~~Parties”) reached a settlement agreement (the “Mississippi Power Rate Case Settlement Agreement”) in Mississippi Power’s base rate case filed with the Mississippi Public Service Commission (~~the~~ “PSC”). ~~The~~on ~~filing~~November ~~includes~~26, a2019. Under ~~requested~~the ~~annual~~terms ~~decrease~~of inthe Mississippi Power’s Rate Case Settlement Agreement, annual retail rates ofwould decrease by approximately $516.87 million, or 01.685%, ~~which~~based ~~could~~on bea ~~effective~~test asyear ~~early~~period asof 30January ~~days~~1, ~~after~~2020 ~~the~~through ~~filing~~December ~~unless~~31, ~~suspended~~2020, a 53% average equity ratio, an allowed maximum actual equity ratio of 55% by the ~~Mississippi~~end ~~PSC~~of 2020 and a 7. 57% return on investment. The ~~decrease~~terms inof ~~rates~~the isMississippi ~~driven~~Power ~~primarily~~Rate byCase ~~changes~~Settlement inAgreement ~~the~~also: (1) established common amortization ~~rates~~periods of ~~certain~~four years for regulatory assets and ~~liabilities~~three ~~and~~years ~~cost~~for ~~reductions,~~regulatory ~~partially~~liabilities ~~offset~~included byin anthe ~~increase~~proposed inrevenue ~~depreciation~~requirement, ~~associated~~including ~~with~~those ~~the~~related ~~filing~~to ofunprotected andeferred ~~updated~~income ~~depreciation~~taxes; ~~study.~~(2) ~~The~~stipulated ~~revenue~~to ~~requirements~~new ~~included~~depreciation inrates and to the ~~filing~~reasonableness ~~are~~of ~~based~~those onrates areflecting ~~projected~~an ~~test~~annual ~~year~~increase ~~period~~in depreciation of ~~January~~approximately 1,$10 ~~2020~~million; ~~through~~and ~~December~~(3) ~~31,~~excluded ~~2020,~~certain acompensation ~~53%~~costs ~~average~~totaling ~~equity~~approximately ~~ratio~~$3.9 million, ~~and~~consistent awith ~~7.728%~~Mississippi ~~return~~Power’s onoriginal ~~investment~~filing. Additionally, ~~The~~under ~~filing~~the ~~reflects~~terms of the ~~elimination~~Mississippi ofPower Rate Case Settlement Agreement, separate rates for costs associated with Plant Ratcliffe (formerly known as the Kemper County energy facility) and energy efficiency initiatives; ~~those~~would ~~costs~~be ~~are~~eliminated ~~proposed~~and tosuch costs would be included in the Performance Evaluation Plan (“PEP”), Environmental Compliance Overview Plan and adAd ~~valorem~~Valorem ~~tax~~Tax ~~adjustment~~Adjustment factor, as applicable. ~~Mississippi Power expects the Mississippi PSC could issue a final order in this matter within 120 days of the filing.~~

InThe ~~addition~~Mississippi toPower ~~the 2019 Base~~ Rate Case, ~~Mississippi~~Settlement ~~Power~~Agreement ~~made~~is ~~its~~subject ~~annual~~to ~~retail~~the ~~fuel~~approval ~~filing,~~of ~~which~~the ~~includes~~Mississippi ~~a requested decrease in annual retail rates of $23~~PSC.8 If ~~million~~approved, orthe ~~2.6%,~~rates asset aforth ~~result~~in ofthe ~~lower fuel costs.~~ Mississippi Power ~~expects~~Rate ~~the~~Case ~~Mississippi~~Settlement ~~PSC~~Agreement towould ~~authorize~~become ~~these~~effective ~~rates~~as tosoon goas ~~into~~practicable ~~effect~~following ~~no later than the first billing cycle of February 2020~~approval.

Additionally, Mississippi Power would be required to file with the Mississippi PSC PEP compliance rate clauses to incorporate the Stipulating Parties’ recommended revisions to PEP within 60

days following Mississippi PSC approval of the Mississippi Power Rate Case Settlement Agreement. These revisions include, but are not limited to, changing the filing date for the annual PEP rate filing from November of the immediately preceding regulatory year to March of the current regulatory year, utilizing a historic test year adjusted for “known and measurable” changes, using discounted cash flow and regression formulas to determine base return on equity and moving all embedded ad valorem property taxes currently collected in PEP to the Ad Valorem Tax Adjustment clause.

The ultimate outcome of these matters cannot be determined at this time.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 26, 2019	MISSISSIPPI POWER COMPANY
Date: February 26, 2020	MISSISSIPPI POWER COMPANY
	By	/s/Melissa K. Caen
		Melissa K. CaenAssistant Secretary

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