Mississippi Power Co. says it’s likely to again delay its Kemper County power plant, pushing completion of the $7 billion plant past the previous deadline of Dec. 31.
“While it remains possible to meet that projected in-service date, based on the current status of start-up and commissioning activities, Mississippi Power now expects that the Kemper IGCC will be placed in service during January 2017,” wrote Southern Co., the Atlanta-based parent of Mississippi Power, in a Friday stock filing .
The plant and associated coal mine were originally supposed to be finished in May 2014 and cost $2.9 billion at most, with earliest estimates lower. Customers are already paying for more than $1 billion in assets that are generating power using natural gas and could be asked to pay as much as $4.2 billion overall, if regulators approve. Shareholders have absorbed more than $2.6 billion in losses.