Sierra Club ends opposition to Southern Co.'s Kemper clean-coal plant


The Sierra Club agrees to withdraw its legal challenges to Southern Co.'s (NYSE:SO) $5.5B clean-coal power plant in Kemper County, Miss., in return for the utility's agreement to burn less coal in Mississippi and Alabama, among other concessions.

The environmental group has argued for years that Kemper is too expensive for the 186K customers of Mississippi Power Co., the SO unit building the plant, and has been skeptical of the project's unproven coal gasification technology.

Kemper has been mired in cost overruns that have resulted in rate increases for consumers and more than $1.5B in charges against earnings for SO shareholders.

From other sites
Comments (1)
  • smurf
    , contributor
    Comments (6369) | Send Message
     
    This was a pretty slick way to get out of more litigation.
    8 Aug 2014, 12:22 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs