From: RTO Insider
Another new power plant designed to employ carbon-capture technology is racking up cost overruns.
Southern Co. says its Kemper plant in Mississippi will cost $6.1 billion, up an additional $496 million, and it is pushing back the completion date from June 2015 to March 2016. The plant’s initial cost was $2.8 billion and it was projected to begin operations in 2013.
The company said that the overruns will reduce after-tax quarterly profit by $258 million. Southern subsidiary Mississippi Power is also planning to ask the Mississippi Public Service Commission for permission to pass $167 million on to customers.