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Stock Market & Financial Investment News

News Breaks
April 30, 2014
06:23 EDTSOSouthern Company to take $380M charge in Q1 for cost of Kemper County plant
On April 28, Mississippi Power further revised its cost estimate for the Kemper IGCC to include an adjustment of approximately $61M related to the construction issues as well as approximately $135M related to extension of the expected in-service date for a total of approximately $4.44B net of the DOE Grants and excluding the Cost Cap Exceptions. Mississippi Power does not intend to seek any rate recovery or joint owner contributions for any costs related to the construction and start-up of the Kemper IGCC that exceed the $2.88B cost cap, net of the DOE Grants and excluding the Cost Cap Exceptions. As a result of the revised cost estimate, Southern Company and Mississippi Power recorded total pre-tax charges to income for the estimated probable losses on the Kemper IGCC of $380M in their first quarter 2014 financial statements, in addition to charges totaling $1.2B recognized through December 31, 2013. Comments taken from an 8-K filing.
News For SO From The Last 14 Days
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May 21, 2015
12:01 EDTSOSouthern Company subsidiary acquires 103-MW Georgia solar project
Southern Company (SO) subsidiary Southern Power acquired the 103-megawatt Butler solar facility from Community Energy in Georgia. The project, which was initially developed by Community Energy was selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative. The facility, which will be located on approximately 1,070 acres in Taylor County, Georgia, is expected to enter commercial operation in the fourth quarter of 2016. Construction is slated to begin in September 2015, with First Solar (FSLR) managing the building, operations and maintenance of the facility. The Butler solar facility is expected to consist of more than 1 million of First Solar's thin-film photovoltaic solar modules mounted on single-axis tracking tables. The electricity and associated renewable energy credits generated by the facility will be sold under a 30-year power purchase agreement with Georgia Power, which will have the option to keep or sell the RECs, for the benefit of its customers or renewable energy programs.
May 19, 2015
08:10 EDTSOHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "Discussion Draft Addressing Energy Reliability and Security" with Director Bardee of FERC, President & CEO Fanning of Southern Company, Executive Vice President Dominguez of Exelon Corp., and Vice President Heitman of ABB, Inc. on May 19 at 10 am. Webcast Link
07:11 EDTSOWolfe Research to hold a conference
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May 15, 2015
17:29 EDTSOSouthern Company: Construction to begin on Georgia Power 3x30 solar projects
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May 12, 2015
10:04 EDTSOHigh option volume stocks
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May 11, 2015
07:20 EDTSODeutsche Bank to hold a conference
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May 10, 2015
12:54 EDTSODuke, Edison, other utilities could return 8% annually, Barron's says
Shares of Duke Energy (DUK), Southern Company (SO), Consolidated Edison (ED), Edison International (EIX), PG&E (PCG), American Electric (AEP), Dominion (D), and NextEra Energy (NEE) could return 8% or more annually in coming years, Barron's contends in a feature article. Though utilities are sometimes seen as no-growth businesses, Barron's argues that infrastructure replacement projects, rate hikes, and dividend boosts make the sector look attractive. Reference Link

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