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Entergy completes $206M purchase of power plant

Published on NewsOK Modified: December 1, 2012 at 11:47 am •  Published: December 1, 2012
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JACKSON, Miss. (AP) — Entergy Mississippi says it has completed its $206 million purchase of a Jackson power plant.

The unit of New Orleans-based Entergy Corp. bought the plant from KGen Power Corp. of Houston Friday. It also completed the $253 million purchase of another KGen plant in Malvern, Ark.

Purchase of both natural-gas fired plants had been delayed by a U.S. Department of Justice inquiry into whether Entergy illegally manipulated the power transmission market in its four-state territory of Arkansas, Louisiana, Mississippi and Texas. Justice officials said they believed Entergy had acted wrongly, but said the company could buy the plants because their purchase would not affect competition.

A Mississippi residence using 1,000 kilowatt hours per month would pay an additional $1.65 a month to finance the plant, Entergy has told regulators.