Posts Tagged ‘COST’

Fitch Ratings taking no action due to Kemper plant delay

KEMPER COUNTY — Fitch Ratings is not taking any rating actions following the latest cost revisions and schedule extension for the Kemper integrated gasification combined cycle (IGCC) project. On April 28, Mississippi Power announced another revision on the scheduled in-service date for Kemper IGCC and a further increase in the construction costs. Further cost increases […] [...]

Construction materials prices show some volatility

WASHINGTON — Construction materials prices expanded just 0.1 percent in December and are up 1.3 percent year over year, according to a Jan. 15 Producer Price Index released by the Department of Labor. Nonresidential construction materials prices also rose only 0.1 percent for the month and are 1 percent higher than the same time one […] [...]

Entergy reports decreased profit; gives 2014 forecast

NEW ORLEANS — Entergy Corp. said day that its third-quarter profit fell 29 percent on higher costs, and it gave a 2014 forecast with midpoint below analysts’ expectations. Shares of the power generating and distribution company fell $2.05, or 3 percent, to close at $66.06. Net income fell to $239.9 million, or $1.34 per share, […] [...]

Price tag for Kemper plant grows by another $150M

KEMPER COUNTY — Mississippi Power Co. says the expected cost of the power plant it’s building in Kemper County has risen another $150 million because of schedule delays. That pushes the total cost of the plant, a coal mine and associated pipelines to almost $5 billion. The complex was originally projected to cost about $2.8 […] [...]

Hog farmers continue to see obstacles, but market improving

ACROSS MISSISSIPPI — Swine producers are discovering the only constant in their industry is change. John Michael Riley, agricultural economist with the Mississippi State University Extension Service, said a variety of challenges have kept the state’s swine producers adjusting their strategies to avoid financial losses in recent decades. Just when producers adjust to overcome one […] [...]

Port, consultant at odds over expenses; contract may be terminated

GULFPORT — The state port of Gulfport is negotiating reductions in contract costs with CH2M Hill, the global consulting and engineering firm that conceived ambitious expansion plans unveiled in 2008 but since curtailed. “It’s my opinion we really don’t need all their services they offer and the expenses that are going along with it,” said […] [...]

Southern Co. shareholders to feel losses from Kemper plant

KEMPER COUNTY — Southern Co. shareholders will absorb $450 million in losses incurred while building a new coal-fired power plant in Mississippi, raising the total write-offs on the construction project to nearly $1 billion, utility officials said today. The utility announced the pre-tax write-off on its massive project in Mississippi’s Kemper County before releasing its […] [...]

Bank sees modest rise in earnings after retirement buy-out

TUPELO — Regional bank BancorpSouth Corp. says profit in 2013′s second quarter rose less than 1 percent from the same three months of 2012, as an early-retirement buyout drove up costs. BancorpSouth posted quarterly profit of $20.8 million, or 22 cents per share Tuesday. That’s up from $20.6 million or 22 cents per share in […] [...]

Kemper coal plant now faces spending review

KEMPER COUNTY — The next battle over a Kemper County power plant will hinge on whether Mississippi Power Co.’s spending on the project was prudent — and that decision may come months later than a July 24 date that state regulators had agreed to earlier this year. The utility recently asked the state Public Service […] [...]

Auditor: Legislature’s salaries, expenses totaled nearly $7.5M

JACKSON — Mississippi spent nearly $7.5 million for salaries and expenses of state lawmakers during the 11 months that ended in early April, according to a new report from the state auditor’s office. That breaks down to nearly $5.2 million for the House of Representatives and $2.3 million for the Senate. The report is dated […] [...]

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