Mississippi Power Further Delays Kemper Plant; Cost Nears $7 Billion

5 Nov 2016   Air Quality, Coal

Mississippi Power Co. now says it won’t complete its Kemper County power plant until the end of the year, a delay of a month that pushes up the price tag by $25 million to nearly $7 billion. The company announced the delay Friday as its Atlanta-based parent Southern Co. filed quarterly stock disclosures, saying ratepayers wouldn’t have to pay the $25 million. The documents show that if the coal-fueled plant doesn’t start commercial operation by Dec. 31, Mississippi Power would have to repay $250 million of previously received tax benefits. Mississippi Power spokesman Jeff Shepard didn’t immediately respond to questions about the potential repayment. The plant and associated coal mine were originally supposed to cost $2.9 billion at most, and earliest estimates were lower. Stockholders have absorbed $2.6 billion in losses, while customers […]

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