May 21, 2015 Read More →

Partner Backs Out of Mississippi Coal-Gasification Project

From Brad Kessie at WLOX:

A decision by South Mississippi Electric adds even more financial instability to the cloud hanging over Mississippi Power’s Kemper County lignite plant. Board members with South Mississippi Electric’s 11 cooperatives no longer have an interest in purchasing a 15 percent stake in the Kemper County facility.

Their reason for breaking off those talks had everything to do with money.

“It would have led to higher rates for us,” South Mississippi Electric CEO Jim Compton told WLOX News, noting the deal would have cost the 11 cooperatives $620 million. “We determined it wasn’t something we could afford in rates.”

Coast Electric and Singing River Electric are two of the 11 cooperatives that make up South Mississippi Electric.

South MS Electric Backs Out of Kemper Partnership

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