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Kemper County IGCC power plant cost increases $25mn

Kemper County IGCC power plant construction cost increase Mississippi Power Southern Co

A filing with the Securities and Exchange Commission shows the cost of the Kemper County power project has increased by another $25 million.

Mississippi Power, a unit of Southern Co. (NYSE: SO), estimated in the filing that the total cost of the plant is now $6.1 billion, with an additional $25 million to $50 million in increased construction costs under review, according to the SunHerald. That review is expected to be included in the January filing. Electricity customers will only pay for the first $2.88 billion under a cap imposed by the Mississippi Public Service Commission.

The combined-cycle part of the plant is operating, while the gasifier portion is expected to begin operations in the first half of 2016.