Southern CEO Dream

The Southern Company’s dream of a multi-billion plant to transform lignite into electricity will be history in four short years. According to a filing with the U.S. Securities and Exchange Commission, the gasifiers and chemical plant will be scrapped by 2024. Remediation of the Liberty lignite mine will be completed this year.

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What Can't Go On

This version of Stein’s Law could be about lots of long running Ponzi schemes. But this is about Mississippi Power’s Kemper County Lignite Plant’s big brothers — two nuclear power plants (Vogtle) under construction in Georgia and their Southern Company daddy. And about regulatory systems that prop up an archaic business model that puts interests of utilities and their shareholders ahead of customers.

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Peak Idiocy

Peak idiocy is an apt description of the Kemper County Lignite craze that possessed a former governor, the Mississippi Public Service Commission before the last election, and other notables.  I borrowed the term from a recent article in Investor’s Business Daily entitled “Goodbye, OPEC” which asked this question: “Doesn’t it seem like yesterday when the left was running around shrieking about ‘peak oil?’ More like peak idiocy.”  Not just the left, it seems.

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MS Attorney General Jim Hood

The Mississippi Legislature is choosing sides in the fight between Mississippi’s Attorney General and Public Service Commission.  The fight is over $600 million of over-charges by Entergy Mississippi to its customers for high cost electricity from its sister companies in other states. 

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PSC Tilts the Scales Toward the Consumer

MPCO brazenly threatens recovery of all costs associated with the gasifiers, definitely not in the best interests of its customers.  The PSC tilts the scales toward the consumer threatening a Show Cause Order which demands MPC prove the need of the Kemper Project in the first place or risk having the entire site closed resulting in total write offs of $7.6 billion.

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