"Southern Clean Coal Project Cost Almost Triple on Delays"

"Southern Co. (SO) said its first-of-a-kind clean coal power plant in Mississippi will cost almost three times more and take three years longer than originally proposed.

The estimated cost of the Kemper County project is now $6.1 billion and it’s expected to be in service in the first half of 2016, Atlanta-based Southern said today in a filing. The company initially said the project would cost $2.2 billion and begin generating power four years after it was proposed in 2009.

'It’s the gift that keeps on taking,' said Paul Patterson, a New York-based analyst for Glenrock Associates LLC. 'This is one of many write downs and it’s a disappointment, obviously.'"

Jim Polson and Mark Chediak report for Bloomberg News October 28, 2014.

Source: Bloomberg, 10/30/2014