WAPT reports that Mississippi Power Co. will spend another $61 million on its overrun-plagued Kemper County power plant, pushing its total cost above $6.7 billion.
Although the unit of Atlanta-based Southern Co. will absorb $35 million of the cost, customers could pay for $26 million in interest if the Mississippi Public Service Commission eventually approves.
The utility is absorbing $2.7 billion in overruns so far, and Southern Co. will write off $53 million before taxes from its quarterly earnings, which will be announced Wednesday. After taxes, the write-off is projected to cost $33 million.
The plant and associated lignite coal mine were originally supposed to cost $2.9 billion at most, and the earliest estimates were even lower. Customers could be asked to pay as much as $4.3 billion for the plant.