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Kemper’s Clean-Coal Mega-Project Draws Federal Scrutiny

first_imgKemper’s Clean-Coal Mega-Project Draws Federal Scrutiny FacebookTwitterLinkedInEmailPrint分享Mark Chediak for Bloomberg News:Federal regulators are investigating the estimated costs and schedule of Southern Co.’s long-delayed, $6.7 billion Kemper clean-coal plant under construction in Mississippi.Southern said in a filing Thursday it believes the U.S. Securities and Exchange Commission inquiry is focused primarily on “accounting matters, disclosure controls and procedures, and internal controls over financial reporting.” Shares dropped by as much as 2 percent on the disclosure before closing at $50.62 in New York on Thursday.“Although an SEC investigation is almost never a positive, it’s hard to say what the ultimate significance of it is, given the limited information in the disclosure,” said Paul Patterson, a New York-based analyst for Glenrock Associates LLC. “Kemper has been a troubled project for some time.”Southern has spent the past six years working to build the first large-scale power plant in the U.S. to gasify coal and capture carbon before it is released into the atmosphere. The U.S. Department of Energy provided $245 million in a grants for the project, which the coal industry had been banking on as a potential way toward developing cleaner-burning technologies as pollution limits take hold.Full article: U.S. Probing Costs of Southern’s $6.7 Billion Clean Coal Plantlast_img

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