Miss. Power says more overruns likely at Kemper

Mississippi Power Co. warned Monday that costs are still increasing at the power plant it’s building in Kemper County.

The unit of Atlanta-based Southern Co. told stockholders that an ongoing review of costs at the coal-fired plant has initially identified at least another $160 million in cost increases.

Mississippi Power spokeswoman Amoi Geter said Southern Co. shareholders would absorb any cost increases. The parent company was hit with $540 million in charges in April, although the after-tax cost to shareholders was lower. In a January settlement with Mississippi regulators, the company agreed to shield customers from further cost increases.

Sun Herald
7/1/13