Mississippi Power Co. says the power plant it’s building in Kemper County will be cheaper to run on natural gas than on its planned fuel of lignite coal unless gas prices are high.
The unit of Atlanta-based Southern Co. filed that analysis Tuesday.
On Wednesday, the utility announced it needs more time to complete the $7 billion Kemper plant, which is now nearly three years behind schedule and more than $4 billion over budget. Mississippi Power says it will lose another $25 million from the delay, although customers could also be asked to pay more.
The company says an upcoming rate case will ask customers to pay $4.2 billion overall for Kemper. Southern says it hopes to negotiate an agreement with the Mississippi Public Service Commission and could accept less.
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