U.S. Probes Cost of Southern's $6.7 Billion Clean Coal Plant
- Southern discloses investigation by SEC in regulatory filing
- Filing shows inquiry is related to Kemper clean coal plant
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Federal regulators are investigating the estimated costs and schedule of Southern Co.’s long-delayed, $6.7 billion Kemper clean-coal plant under construction in Mississippi.
Southern said in a filing Thursday it believes the U.S. Securities and Exchange Commission inquiry is focused primarily on “accounting matters, disclosure controls and procedures, and internal controls over financial reporting.” Shares dropped by as much as 3.4 percent on Friday, the most on an intraday basis since November, and were at $49.06 as of 9:50 a.m. in New York.