Mississippi electric co-ops look into funding opportunities to provide internet service

In Jan, Gov Phil Bryant (R-MS) signed off on a bill by the Mississippi Legislature that gave  approval for electric cooperatives in the state to provide broadband internet service. The Mississippi Broadband Enabling Act, however, was just the first step. The co-ops must now find ways to fund such projects.  Michael Callahan, CEO of Electric Cooperatives of Mississippi, said getting the co-ops to expand into internet service will be a “tough process.” “We’re doing our due diligence,” he said. “We’re all looking at this, spending money on surveys, doing studies, talking to consultants ... we understand there’s a need. But we can’t escape the law of economics. We have to build a business plan that stands up to lenders loaning money and we can pay it back over time without putting our members at risk. That’s our primary purpose, to serve our electric customers. But I’m proud to say all 25 distribution companies in the state are looking at this.”