A deal to limit the customer cost of a Mississippi power plant may have implications in Georgia, where the Southern Company utility is seeking more money for a nuclear plant.
Southern Company subsidiary Mississippi Power promised utility regulators it would charge its customers only for $2.4 billion in costs from building a coal-fired power plant in Kemper Country. Those customers will also have to pay off another $1 billion in bonds for the project, though the utility cannot make a profit off that borrowed money.
As a result of the spending cap, the company has absorbed $540 million in losses this spring, and more could come.
Now at least one Georgia regulator has asked whether Southern Company is considering a similar deal for an over-budget nuclear plant southeast of Augusta.