Entergy Mississippi is the regulated utility arm of Entergy Corporation that serves central and northern Mississippi, and its second quarter print shows a franchise being rewired around hyperscale data center load. The company earns its revenue from roughly 460,000 retail customers in a territory where three new gas plants and a solar build are under way. The 2026 quarter marked the first full period with data center load on the system, and the print carried it. Net income reached 104.2 million on electric revenues of 557.9 million.
The lift came from interim facilities rate adjustment revenues that began collecting in January 2026, from industrial load that jumped 93 percent year over year, and from a growing return on construction work in progress as the company puts generation under construction for the Amazon Web Services campuses. The most recent material event is the June approval by the Mississippi Public Service Commission of a joint stipulation on the company's formula rate plan. The commission moved the franchise to a negotiated settlement in the spring. That stipulation locked the earned return on rate base at 7.68 percent for the plan year.
The look-back on the prior year resolved at 8.10 percent under the same stipulation, which also set the terms for monetizing nuclear production tax credits. The tax credit work is the newest regulatory surface in the company's recovery stack. The investable instrument under the EMP ticker is not common stock but a 4.90 percent mortgage bond series due 2066. The credit story is a 52.3 percent debt to capital ratio, a roughly 185 million Winter Storm Fern restoration bill, and a data center buildout that is the franchise's entire growth vector.