Brain THUMB

Engineers and Managers Are Abandoning the Kemper Project

Abandon ship! Abandon ship! Will Southern’s CEO Tom Fanning go down with the ship? He commanded Kemper’s boondoggle to work. It hasn’t anyway. King Canute commanded the tide not to come in. It did anyway. Two egomaniacs? No. Just one. King Canute knew better.

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Workers vehicles fill parking lots at Mississippi Power’s Kemper County energy facility near DeKalb, Miss., in this 2012 photo. Delays and cost overruns at the “clean coal” plant have weighed on Southern Co.’s bottom line. (AP Photo/Rogelio V. Solis, File)

Southern’s Risky Projects are Undercutting Profits and Stock Price

Southern violates the first law of holes: when you are in a hole, quit digging. It keeps throwing good money after bad at its Mississippi Kemper Lignite Project. That may be because it thinks it’s throwing customer’s money. That will be the case if Mississippi’s Public Service Commission makes customers pay for Southern’s mistakes. The […]

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Moody’s reviewing Mississippi Power Company for a Downgrade

“The review of Mississippi Power’s ratings considers the declining competitiveness of the Kemper Integrated Gasification Combined Cycle (IGCC) plant as project costs have continued to rise, operating costs are increasing, and natural gas prices remain low…” and “The review also reflects the continued inability of the company to place the plant into service, with nine […]

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