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Tag Archives: Kemper Coal Plant

Fitch: Kemper dealt another blow; downgrade pressure looms for Mississippi Power

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NEW YORK — Fitch Ratings sees mounting pressure on Mississippi Power Company’s Issuer Default Rating (IDR) following South Mississippi Electric Power Association (SMEPA)’s decision to terminate the Asset Purchase Agreement (APA) for a 15 percent ownership stake in the Kemper project. Fitch currently rates Mississippi Power’s IDR ‘A-‘ with a Negative Outlook. Fitch believes that finding another partner to replace SMEPA could ...

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Electrical cooperative pulls out of Kemper power plant deal

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JACKSON — The entity that procures power for many Mississippi electric cooperatives Wednesday pulled out of a deal to buy 15 percent of the $6.2 billion Kemper County power plant, blowing a hole in Mississippi Power’s financing plan for the project. South Mississippi Electric Power Association spokeswoman Sara Peterson said SMEPA’s board voted to back out of a plan to ...

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Business groups file briefs in support of Kemper coal plant rehearing

By JACK WEATHERLY Three business-support groups have filed briefs with the Mississippi Supreme Court, asking for a rehearing of the case in which a rate increase for Mississippi Power Co. customers was reversed and a refund ordered. The Mississippi Economic Council, the Mississippi Manufacturers Association and the Mississippi Gulf Coast Business Council are seeking to get another review of the ...

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Barbour-Swoope team played .500 ball, at best

Thank heavens there is still a bright line between a news story and a column. Neither is better than the other. Each has its advantages and disadvantages. A news story is supposed to be factual. Hence, it carries the mantle of credibility, which should never drop to the ground, like the American flag. Play fast and loose with the facts, ...

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Mississippi Power, regulators, ask Kemper decision rehearing

JACKSON — The Mississippi Power Co. and the Public Service Commission are asking the state’s highest court to reconsider its ruling overturning rate increases to fund the company’s Kemper County power plant and ordering $200 million in refunds. In separate court filings Thursday, the unit of Atlanta-based Southern Co. and the regulatory body argued the high court’s 5-4 decision misreads ...

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DAVID DALLAS — The Dirt on Kemper Coal II: Lord Barbour Strikes Back

When the facts are piling up against you, change the subject. That is former Governor Haley Barbour’s new, painfully obvious strategy as he continues to lobby for Southern Company and its bottomless money pit, the Kemper County Coal Plant. Last week, Barbour compared the cost overruns and delays of the Kemper Plant to the construction of our Grand Gulf Nuclear ...

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Haley Barbour: Kemper plant will rival Grand Gulf’s performance

By JACK WEATHERLY  Former Gov. Haley Barbour predicts that Mississippi Power Co.’s Kemper County coal-powered plant will in the long run rival the performance of Entergy’s Grand Gulf nuclear plant in Port Gibson. “Grand Gulf took more than twice as long to build and cost more than twice as much [as originally planned].  And after it went online it initially caused ...

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Kemper plant employee gag order continued

Jack Weatherly A Jefferson County, Ala. judge has extended for another month a gag order preventing a key manager at Mississippi Power Co.’s Kemper County coal-fired power plant from making public statements about the facility. The parent of Mississippi Power Co., Atlanta-based Southern Co., contends that the information would do great harm to the company. The case is the latest development in ...

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DAVID DALLAS — The dirt on Kemper Coal

The State Supreme Court has told Mississippi Power and its parent Southern Company to refund money to almost 200,000 customers. The state’s Public Service Commission had given Southern Company permission to start increasing rates on customers in an effort to pay off what is easily the most expensive boondoggle in Mississippi history. Public Service Commission Chairman Lynn Posey of Union, ...

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Supreme Court says PSC blew it on Kemper power plant, orders refund

JACKSON — One thing is certain following Thursday’s state Supreme Court ruling — Mississippi Power Co.’s customers will be getting back the $200 million-plus they’ve paid so far for the coal-fueled power plant that the company is building in Kemper County. But what happens after that is anybody’s guess, as the court threw the problem back into the lap of ...

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