KEMPER COUNTY — The Southern Co. says the expected startup date of its coal gas-fired power plant in Kemper County is being pushed back to the first half of 2015.
In a regulatory filing yesterday with the Securities and Exchange Commission, the company also says the plant’s cost is expected to rise by $196 million to a total of about $5.4 billion.
The Atlanta-based company says it will take a pre-tax charge of $380 million — $235 million after taxes — against its income for the first quarter of 2014.
A spokesman for Southern-affiliate Mississippi Power Company says the utility will not seek to recover the increased costs from ratepayers.
Earlier this month the company blamed poor weather, unexpected turnover of construction employees and installation inefficiencies for contributing to extra costs.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info