Latest Kemper report: Construction costs creep closer to cap
The Kemper coal plant’s Independent Monitors’ Report for the period through the end of May shows the project has crept closer to the $2.88 billion cap the Public Service Commission imposed on it.
Mississippi Power Co. now estimates that the cost to build the lignite coal-fired generation facility will reach $2.822 billion. It’s the second report in a row that lists an overrun. The report for the period through the end of April estimated construction costs at $2.76 billion.
MPC officials originally estimated that they could build the plant for $2.4 billion. The latest report exceeds that figure by $422 million.
In late June, commissioners voted 3-0 to wait until the Mississippi Supreme Court has its final say on litigation related to the project to take any action on proposed rate increases MPC hopes to use to pay for the plant.