Mississippi Power Confirms Kemper Plant Delay

By  | 

Jackson, Miss.
Mississippi Power Co. says its Kemper County power plant won't be finished by the original May 2014 deadline.

The unit of Atlanta-based Southern Co. said Wednesday the plant would start service sometime later in 2014.

The company will have to repay $133 million in federal tax credits it received with the condition of meeting the May deadline.

The company had warned of possible delays recently.

In a stock filing, Mississippi Power says there could be further cost overruns at the $4.7 billion plant.

Southern Co. has already written off $990 million in costs, but says tax credit changes won't cause a direct charge against profits.

The company says it could seek to recover additional interest costs from ratepayers, but such recovery would face approval by the Mississippi Public Service Commission.



 
Comments are posted from viewers like you and do not always reflect the views of this station. powered by Disqus