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Tag Archives: Kemper

Southern Co. absorbs $2.8 billion on Kemper plant

Associated Press Mississippi Power customers won’t be paying for the gasification portion of the Kemper County power plant. Customers are only paying for the energy they’ve been receiving from the natural gas portion of the plant. Atlanta-based Southern Co. on Wednesday announced it would absorb an additional $2.8 billion in losses from the Kemper County power plant’s lignite coal operation — bringing ...

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PSC starts clock ticking on resolution of Mississippi Power case

  By JACK WEATHERLY The latest chapter in the saga of Mississippi Power Co.’s troubled 582-megawatt “clean coal” power plant in Kemper County started Thursday. “The clock starts ticking today,” Public Service Commission Chairman Brandon Presley said of the order laying out what the PSC says are Mississippi Power’s options. The plant, construction of which began in 2010, was initially ...

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Mississippi Power suspending Kemper coal operation pending PSC showdown

  By JACK WEATHERLY Mississippi Power Co. and its parent, the Southern Co., issued a statement Wednesday saying that the coal-gasification operations at the Kemper County power plant will be suspended and natural-gas operations would continue. The statement came as a Mississippi Public Service Commission hearing approaches on Thursday, July 6, to determine the future of the project that is years behind ...

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PSC to Mississippi Power: enough is enough on Kemper

By JACK WEATHERLY Years of construction delays and huge cost overruns at Mississippi Power Co.’s Kemper County clean-coal gasification plant have reached the breaking point, as far as state regulators are concerned. The Mississippi Public Service Commission voted unanimously Wednesday to issue an order on July 6 giving the utility 45 days to comply with the order that would allow ...

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Mississippi power plant costs cross $7.5B; rate plan delayed

A Mississippi utility on Monday delayed making proposals for how its customers should pay for an ever-more-expensive power plant, even as the estimated cost of the facility crossed $7.5 billion. Thomas Fanning, CEO of parent Southern Co., told shareholders in May that Mississippi Power would file rate plans for its Kemper County power plant this month. But still unable to ...

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Kemper not finished, but Mississippi Power to file rate plan

Mississippi Power Co. says it will file plans Monday for customers to pay their share of its $7.3 billion Kemper County power plant, even though the plant isn’t finished. The unit of Atlanta-based Southern Co. didn’t yet have a cost update in a Wednesday statement, after Mississippi Power pushed back Kemper’s completion date for the 10th time in 18 months. ...

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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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Report warns of possible tax subsidy for Kemper plant

A report released Tuesday warns Congress against tax changes that could subsidize Mississippi Power Co.’s Kemper County power plant by an additional $700 million to $4.5 billion. Environmental group Friends of the Earth and anti-subsidy group Taxpayers for Common Sense say members of Congress could try to enact changes before year’s end as part of a larger tax bill. Lukas ...

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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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Utility projects operation costs to quadruple estimate after Kemper County power plant starts up

Associated Press The ballooning cost of building Mississippi Power Co.’s Kemper County power plant won’t end when construction is done. The company now projects operation and maintenance costs will total $1 billion in its first five years — four times what regulators approved. The gasified coal-burning plant’s equipment, material and workforce have increased sharply during this building phase, raising the ...

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