Home » NEWS » Energy » Mississippi Power adds $9 million to Kemper cost

Mississippi Power adds $9 million to Kemper cost

Associated Press

Mississippi Power Co. says it will spend another $9 million on its overrun-plagued Kemper County power plant, pushing its total cost toward $6.8 billion.

The unit of Atlanta-based Southern Co. will absorb the cost, part of $2.5 billion it’s absorbing. Southern Co. will write off $38 million before taxes from its quarterly earnings, which will be announced Wednesday.

Mississippi Power says it still plans to complete the plant before Sept. 30, but is running tests and could announce further delays in August. The company said July 15 that it had successfully produced synthetic gas from lignite coal.

The plant and associated coal mine were originally supposed to cost $2.9 billion at most, and earliest estimates were lower. Customers could be asked to pay as much as $4.2 billion.

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

About Ross Reily

Ross Reily is editor of the Mississippi Business Journal. He is a husband to an amazing wife, dad to 3 crazy kids and 2 dogs. He is also a fan of the Delta State Fighting Okra and the Boston Red Sox.

Leave a Reply

Your email address will not be published. Required fields are marked *

*