Southern decides against federal loan for Kemper coal plant
Published: April 3,2013
KEMPER COUNTY — The Southern Co. has withdrawn plans to seek a federal loan guarantee for the power plant its subsidiary Mississippi Power Co. is building in Kemper County.
A spokesman for Atlanta-based Southern says Mississippi Power can borrow money elsewhere at a lower rate than available under the loan from the U.S. Department of Energy, cutting the costs of the plant.
The company had applied for up to $1.5 billion in bonding authority to help finance the plant, whose costs are approaching $3.3 billion. Spokesman Tim Leljedal says the withdrawal is not related to recent actions taken by Mississippi to raise rates for the plant.
Southern says it’s still pursuing up to $3.4 billion in loan guarantees for the two additional nuclear reactors it’s building at Plant Vogtle near Augusta, Ga.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Ex-state employee gets jail time for embezzling from school
- Officials set hunting dates for birds; expands dove season by 20 days
- Madison's Christmas on Ice will not take place this year
- Congressional delegation applauds Air Force's decision on Keesler, but not satisfied
- Report: Mississippi sees biggest hike in home insurance premiums in U.S.
- Giles Ward will not seek reelection to Senate
- Businessman involved in Frankel insurance scam dies at 81
- County rescinds gun ban; sheriff says lawmakers may 'deal with the consequences'
- Commission to decide if emergency should be declared in Delta school system