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Stock Market & Financial Investment News

News Breaks
January 25, 2013
10:52 EDTSOSouthern Company discloses Mississippi Power settlement agreement
The Southern Company (SO) disclosed this morning that Mississippi Power and the Mississippi Public Service Commission entered into a settlement agreement. Under the terms of the agreement, Mississippi Power and the Commission shall follow certain agreed-upon regulatory procedures and schedules for resolving the cost recovery matters related to the Kemper IGCC. These procedures and schedules include the following: Mississippi Power’s filing within 30 days of the Settlement Agreement of a new request to increase rates in 2013 in an amount not to exceed $172M of financing costs to be recorded to a regulatory liability to be used to mitigate rate impacts when the Kemper IGCC is placed in service; the Commission’s decision on that matter within 50 days of Mississippi Power’s request; Mississippi Power’s collaboration with the Mississippi Public Utilities Staff to file with the Commission within three months of the Settlement Agreement a rate recovery plan for the Kemper IGCC for the first seven years of its operation, along with a revenue requirement under such plan for 2014; the Commission’s decision on the rate recovery plan within four months of the filing; Mississippi Power’s agreement to limit the portion of prudently incurred Kemper IGCC costs to be included in rate base to the $2.4B certificated cost estimate, plus costs related to the lignite mine and carbon dioxide pipeline; provided that this limitation will not prevent Mississippi Power from securing alternate financing for any prudently incurred Kemper IGCC costs not otherwise recovered in any Commission rate proceeding contemplated by the Settlement Agreement; and the Commission’s completion of its prudence review of the Kemper IGCC costs incurred through 2012 within six months of the agreement.
News For SO From The Last 14 Days
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February 26, 2015
14:37 EDTSOSouthern Company management to meet with SunTrust
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February 23, 2015
06:13 EDTSOSouthern Company implied volatility of 18 at upper end of index mean range
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February 20, 2015
09:05 EDTSOSouthern Company subsidiary acquires two Georgia solar projects
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09:04 EDTSOSouthern Company subsidiary acquires two Georgia solar projects
Southern Company subsidiary Southern Power announced the acquisition of two photovoltaic solar projects totaling 99 megawatts in Georgia – the 80-MW Decatur Parkway Solar Project and the 19-MW Decatur County Solar Project – from Tradewind Energy. The projects were proposed by Tradewind Energy and selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative. The electricity and associated renewable energy credits generated by the 80-MW facility will be sold under a 25-year power purchase agreement with Georgia Power. Construction of the 80-MW facility is currently scheduled to begin this month. Georgia Power will purchase the energy generated from the 19-MW project under a 20-year PPA. Southern Power will retain the associated RECs, which it may sell to third parties. Construction of the 19-MW facility is currently scheduled to begin in June. Both projects, which are expected to enter commercial operation in late 2015, will be constructed on separate sites totaling approximately 950 acres in south Georgia's Decatur County using single-axis tracking technology – optimizing efficiency by directing solar panels to track the sun.

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