Southern Company

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Another Delay at Kemper ‘Clean Coal’ Project, Another $38 Million

Jackson (Miss.) Clarion Ledger: Mississippi Power Co. is again delaying completion for its $7.3 billion Kemper County power plant. The subsidiary of Atlanta-based Southern Co. says it still can’t reliably run parts of the plant, including units that convert lignite coal into gas. Southern said in a stock filing Monday that it’s pushing back completion […]

May 2, 2017 Read More →

Southern Co. Investors Question Executive Bonuses as Flagship Kemper ‘Clean Coal’ Plant Disappoints

Dow Jones: Several public pension funds and a foundation issued an open letter Monday to Southern Co. criticizing executive compensation at the Georgia-based utility and urging shareholders to vote against two board members because of the issue. The investors, including the California State Teachers’ Retirement System and the Nathan Cummings Foundation, argue executives are being […]

April 25, 2017 Read More →

On the Blogs: The Undoing of the Kemper ‘Clean Coal’ Project

From Originally, the project was budgeted for $2.8 billion. Today, the plant is still not fully operational, and construction costs are nearly $6.9 billion. Some of that cost was borne by taxpayers. Mississippi Power received a $270 million grant from the Department of Energy and $133 million in tax credits when the project began. […]

March 2, 2017 Read More →

IEEFA Update: Kemper, Edwardsport, and ‘Clean Coal’

Construction Delays and Budget Overruns; Productivity Problems; High Operating Costs

If the “clean coal” integrated gasification combined cycle (IGCC) technology promoted at home and abroad by the U.S. utility industry sounds too good to be true, it’s because it is. That’s why Moody’s Investors Services warned the other day that it might downgrade the credit of Mississippi Power Company because of the declining competitiveness of […]

February 28, 2017 Read More →

Southern Company’s ‘Clean Coal’ Flop

Russell Gold for the Wall Street Journal: Southern Co. said it has nearly completed a first-of-its-kind “clean coal” power plant, though a new analysis suggests it might not make sense to burn coal in it. After taking nearly seven years and $7.1 billion to build, the Kemper County, Miss., facility, which can burn coal and […]

February 23, 2017 Read More →

Moody’s Weighs Another Downgrade of Faltering ‘Clean Coal’ Project in Mississippi

Mary Perez for the (Gulport, Miss.) SunHerald: Moody’s Investors Service placed Mississippi Power Company’s ratings on review for another downgrade after the company last week announced a ninth extension for placing the now $7 billion Kemper energy facility into service using lignite. About $800 million of debt securities are affected by the possible downgrade, including […]

February 7, 2017 Read More →

On the Blogs: Three Lawsuits Question Forthrightness of Kemper Project Developers

Steve Wilson for Mississippi Watchdog: The Kemper Project clean coal power plant has been generating electricity using natural gas since 2014, but now the facility is generating something else for its owner — lawsuits. The Southern Company is embroiled in three lawsuits active in courts in Georgia and Mississippi over alleged fraud in the protracted […]

February 3, 2017 Read More →

Kemper ‘Clean Coal’ Plant, $4 Billion Over Budget and Two Years Behind Schedule, Delayed Again

Jeff Amy for the Associated Press: More than $4 billion over budget and more than two years late, Mississippi Power Co. announced Tuesday that its $7.1 billion Kemper County plant is finally making electricity from gasified lignite coal. But the unit of Atlanta-based Southern Co. said that after achieving the goal Sunday, it must make […]

February 1, 2017 Read More →

Lawsuit Alleges Deception by Southern Company on Kemper ‘Clean Coal’ Project in Mississippi

Mary Perez for the (Gulfport, Mississippi) Sun-Herald: A class-action lawsuit has been filed against Southern Co. over Mississippi Power’s construction of the Kemper County energy plant. The suit charges Southern Co. and some of its officers and directors with violations of the Securities Exchange Act of 1934. Robbins Geller Rudman & Dowd LLP filed the […]

January 26, 2017 Read More →

Rural Mississippi Electricity Coop Bails Out of Kemper ‘Clean Coal’ Project and Gets a Ratings Upgrade

Ted Carter for Hattiesburg Business Today: Bailing out of its 15 percent ownership stake in Mississippi Power’s Kemper gasification plant has helped Hattiesburg-based Cooperative Energy gain a ratings upgrade on a $35.4 million bond issue. The electric power co-op, which changed its name to Cooperative Energy from South Mississippi Electric Power Association in November, received […]

January 5, 2017 Read More →