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Mississippi Power Co. believes that its 582-MW Plant Ratcliffe integrated gasification combined-cycle plant will be built for $2.88 billion, right at the hard spending cap imposed on the project by the Mississippi Public Service Commission, according to a monthly status report that the Southern Co. subsidiary filed with the commission July 6.
The report, covering the under-construction project's progress through May, shows that the utility's current view for the final costs is $484.7 million greater than the approximately $2.4 billion certified by the commission. However, in April the PSC ruled that Mississippi Power could exceed the certified amount by 20% if it could justify that such overruns are prudent and necessary, creating a hard cap of about $2.88 billion.
The...