Posts Tagged ‘Southern Co.’

Mississippi groups attack carbon dioxide limits, say unreasonable

JACKSON — Mississippi regulators and utilities are savaging the federal government’s proposal to force Mississippi power plants to cut carbon dioxide emissions. In comments filed in December, leaders of utilities, state agencies and business groups called the U.S. Environmental Protection Agency’s Clean Power Plan illegal, infeasible and economically unbearable. The EPA announced specific targets for […] [...]

Kemper County plant will cost at least another $496M to complete

KEMPER COUNTY — Southern Co. says it will cost at least another $496 million to finish the power plant it’s building in eastern Mississippi’s Kemper County, pushing the total cost above $6.1 billion. And, unlike other recent overruns, customers could have to pay $167 million of the charges if regulators agree. The Atlanta-based parent of […] [...]

Kemper County plant’s costs continue to rise; completion delayed again

KEMPER COUNTY — Southern Co. said yesterday that it will cost at least another $59 million to finish the power plant it’s building in eastern Mississippi’s Kemper County, pushing the total cost above $5.6 billion. The Atlanta-based parent of Mississippi Power Co. also announced that the work on the parts of the plant that will […] [...]

Fitch gives Mississippi Power a negative outlook due to Kemper plant

GULFPORT — Fitch Ratings has affirmed the issuer default rating (IDR) and security ratings for Southern Company, and has affirmed the IDRs and debt ratings for Southern Company’s subsidiaries. The rating outlook for all of the subsidiaries is stable, except for Mississippi Power, which remains negative. Fitch wrote: “The key near-term uncertainty at Mississippi Power […] [...]

Kemper County power plant costs rise another $30M

KEMPER COUNTY — Southern Co. says it will cost at least another $30 million to finish the power plant it’s building in eastern Mississippi’s Kemper County, pushing the total cost to nearly $5.6 billion. The Atlanta-based parent of Mississippi Power Co. said the additional money will pay for material and labor during the plant’s startup […] [...]

PSC delays Kemper power plant hearing; Blanton files motion

JACKSON  — The Mississippi Public Service Commission today delayed hearings on whether Mississippi Power Co. has spent prudently in building the $5.5 billion Kemper County power plant. Prudency hearings are a key step in the company collecting from its 186,000 ratepayers to pay for the plant, even though rates have already risen 18 percent. The […] [...]

Mississippi Power, Sierra Club reach settlement in Kemper plant case

KEMPER COUNTY — Mississippi Power will convert from coal to natural gas or retire several units at plants in south Mississippi and Greene County, Alabama, as part of an agreement to end litigation over construction of a coal-fired power plant in Kemper County. The company and the Sierra Club announced yesterday that they are ending […] [...]

EPA wants deep cut in state’s carbon emissions from power plants

WASHINGTON — The federal government is proposing that Mississippi’s carbon dioxide emissions from power plants be 38 percent lower by year 2030 compared to 2005. The U.S. Environmental Protection Agency announced specific targets for all states today as part of the Obama administration’s effort to reduce carbon dioxide emissions nationwide. Mississippi’s 2012 carbon emission rate […] [...]

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 […] [...]

Southern Co. moves startup date for Kemper County plant

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 […] [...]

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