8-KRegulation FD

SOUTHERN CO 8-K Report, Regulation FD Disclosure (Jan 2, 2015)

Filed January 2, 2015For Securities:SOSOJESOJFSOJCSOJDSOMN

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.

Frequently Asked Questions

The main purpose of this 8-K filing is to provide the public with access to Mississippi Power Company's Monthly Status Report for its Kemper County Integrated Coal Gasification Combined Cycle (IGCC) Project through November 2014, as submitted to the Mississippi Public Service Commission. This information includes forward-looking statements about the project's cost and schedule.

The filing highlights several risks, including the potential for cost overruns and delays in construction and start-up, unforeseen engineering or design problems, issues with equipment and labor, and the need for regulatory approvals for cost recovery from the Mississippi PSC. It also mentions changes in laws and regulations and the ability of counterparties to meet their obligations.

While the filing includes forward-looking statements regarding projected cost and schedule, it does not provide specific updated financial figures or concrete cost projections in the 8-K itself. The detailed information is within the referenced Monthly Status Report (Exhibit 99.01), which is subject to the risks and uncertainties outlined in the filing.

The company explicitly states that it disclaims any obligation to update the forward-looking information provided in this report. Investors should refer to subsequent SEC filings for any future official disclosures or updates regarding the project, but there is no guarantee of proactive updates on this specific forward-looking information.