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BREAKING: Southern Co. Suspends Kemper "Clean Coal" Project, Warns Investors It May Recognize Losses up to $3.4 Billion

In a major blow to proponents of “clean coal” technology, Southern Co., parent company of Mississippi Power, announced in a Securities and Exchange Commission filing today that it's throwing in the towel on efforts to generate electricity from coal and will instead use only natural gas at its flagship Kemper County, Mississippi power plant.

The project, which relied on a “gasifier” to turn a cheap and common grade of coal into fuel, is over, at least for now, Southern said.

“On June 28, 2017, Mississippi Power notified the Mississippi PSC that it is beginning a process to suspend operations and start-up activities on the gasifier portion of the Kemper IGCC.”

Further, Southern warned that it may record a $3.4 billion loss for the project in the second quarter of 2017, depending on how negotiations with state utility regulators unfold.

Tags: 
Kemper
clean coal
losses
write down
charge to income
Settlement
negotiations
power bills
electricty
natural gas
coal gassification


This post first appeared on DeSmogBlog | Clearing The PR Pollution That Clouds, please read the originial post: here

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BREAKING: Southern Co. Suspends Kemper "Clean Coal" Project, Warns Investors It May Recognize Losses up to $3.4 Billion

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