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The U.S. Securities and Exchange Commission is conducting an investigation of Southern Company and its subsidiary Mississippi Power over costs and delays at the Kemper Project clean coal power plant.
“Bill Kelly, a CPA and subcontractor for AECOM who runs the accounting component of the independent monitor team, said the increase amounted to 95 percent of total project cost and amounted to a “material weakness in internal control over financial reporting” You might call this cooking the books.
Mississippi’s Kemper Project integrated coal gasification power plant hasn’t generated any power off its primary fuel, but it has generated one thing in bunches: lawsuits.
Brett Wingo, former Kemper construction supervisor, warned Southern Company executives in 2014 they were reporting false construction timelines for Kemper completion.