Dive Summary:

• Southern Co. has filed for up-charges to pay for a $3.4 billion coal gasification plant in Mississippi, initially priced at $2.88 billion.
• An additional $540 million is needed to complete the facility converting low-quality coal into a combustible gas in a process still new to the commercial market.
• The 582-megawatt Kemper plant led to a 15% hike in electricity rates stirring controversy among ratepayers.

From the article:

“Atlanta-based Southern, which is expected to report its earnings on Wednesday, said the charge will be $333 million on an after-tax basis. It attributed the increased price tag to rising costs for labor and materials as well as productivity decreases, and said costs could continue to mount.”