Summary
Southern Company (SO) filed an 8-K on January 2, 2015, primarily to disclose that its subsidiary, Mississippi Power Company, submitted its Kemper County Integrated Coal Gasification Combined Cycle Project Monthly Status Report through November 2014 to the Mississippi Public Service Commission (PSC). This report, provided as an exhibit, contains forward-looking information regarding the projected cost and schedule for the Kemper IGCC project. Investors should note that the disclosure emphasizes significant risks and uncertainties that could cause actual results to differ materially from projections. These risks include potential cost overruns, delays in construction and start-up, regulatory hurdles related to cost recovery and PSC approval, changes in laws and regulations, technological advancements, and the ability of counterparties to fulfill their obligations. The company explicitly disclaims any obligation to update this forward-looking information.
Key Highlights
- 1Mississippi Power Company submitted its Kemper IGCC Project Monthly Status Report through November 2014 to the Mississippi PSC.
- 2The 8-K filing includes the full monthly status report as an exhibit (Exhibit 99.01).
- 3The report contains forward-looking statements concerning the projected cost and schedule for the Kemper IGCC project.
- 4Southern Company and Mississippi Power caution investors about significant risks and uncertainties affecting actual project outcomes.
- 5Key risks mentioned include cost control challenges, construction delays, regulatory approvals (including cost recovery and PSC review of prudence), potential changes in laws, and technological issues.
- 6The company explicitly states that the forward-looking information is not a guarantee of future performance and disclaims any obligation to update it.