Kemper delay could cost Mississippi Power $133 million

If Mississippi Power Co. misses a May deadline to complete construction of a $4.3 billion power plant in Kemper County, it will be forced to repay $133 million in federal tax credits.

However, the company says that because of accounting rules, it wouldn’t write the amount off from profit and wouldn’t add it to the $990 million in overruns it’s already written off.

Company spokeswoman Amoi Geter said that decision could come this week.Mississippi Power President Ed Holland told The Associated Press recently that officials were reviewing the schedule and could push it back.”We still think that May date is achievable,” Holland said. “It’s a challenge, and we’re in the process of evaluating how achievable it is.”

Sun Herald

9/30/13