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Tag Archives: coal

Mississippi Power could lose investment-grade credit rating

The increasing price and declining economic competitiveness of its $7.1 billion Kemper County power plant may cost Mississippi Power Co. its investment-grade bond rating from one of the nation’s three main credit rating agencies. Moody’s Investors Service said Monday that it’s considering lowering the electric utility’s credit rating, now at Moody’s lowest investment-grade level, after Mississippi Power announced it would ...

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UPDATED: Kemper completion pushed back to end of year

MBJ staff and wire   Mississippi Power Co. says it won’t complete its Kemper County power plant until the end of the year, a delay of a month that pushes the price tag up by $25 million, to nearly $7 billion. The company announced the delay Friday as its Atlanta-based parent Southern Co. filed quarterly stock disclosures, saying ratepayers wouldn’t ...

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Kemper plant costs parent 11 cents a share for quarter

AP/MBJ staff Mississippi Power Co.’s Kemper County coal-gasification plant cost overruns cost parent Southern Co. 11 cents a share in the third quarter. Southern Co. said Wednesday that wrote down $93 million for the overruns of the plant in the quarter, whose price tag has reached $6.4 billion, compared with the original estimate of $2.8 billion. Mississippi Power said on ...

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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 Mississippi Power Co. pushed back ...

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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 gasify lignite and extract chemicals ...

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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 phase, including contract workers to ...

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TVA retiring coal-fired power plant; to build gas-burning facility

MEMPHIS, Tenn. — The Tennessee Valley Authority board of directors today approved replacing the Allen Fossil Plant in Memphis, Tennessee, with a natural gas plant. Following an environmental review that received comments from more than 1,500 people, the board agreed to retire the 55-year-old coal plant and replace it with a 2-on-1, combined-cycle gas plant. The board authorized up to ...

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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 the litigation. “The Sierra Club ...

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Alabama Power closing two coal units, blames federal regulations

Alabama Power Co. says federal regulations are forcing it to close two coal-fired units at its Walker County power plant and to cease using coal at others, according to a story from the Birmingham Business Journal. The Birmingham-based utility said it will close two coal-fired units at Plant Gorgas in Walker County and work toward eliminating the use of coal ...

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Mississippi Power conducts successful tests at Kemper plant

KEMPER COUNTY — Workers at Mississippi Power’s Kemper County energy facility successfully reached two major testing milestones: testing of the combined cycle unit and pressure testing of both gasifiers. The successful completion of the tests is an indication of continued progress on putting both pieces of equipment into service. Recent testing of the combined cycle included successfully running the unit ...

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