Dive Summary:

• Southern Co. announced Tuesday that shareholders will take a $450 million charge for the over-budget coal-gasification plant under construction in Mississippi's Kemper County. That brings the total pre-tax loss on the project to nearly $1 billion.
• As project costs climb past $4.7 billion, Southern Co.’s subsidiary Mississippi Power has struggled to keep regulators at bay. A state regulator accused the utility’s former president Ed Day of withholding documents relating to the plant’s increasing expenses.
• Meanwhile, Southern Co. has agreed to pass on only $2.4 billion of the project costs to customers.

From the article.

“Southern Co. subsidiary Georgia Power is also having trouble keeping another building project under control. The firm has asked regulators to raise its construction budget on a nuclear plant in eastern Georgia by $737 million to roughly $6.85 billion.”