Moody’s Credit Opinion: “NEGATIVE” Mississippi Power Company
Negative results mean no investors will invest their money into the Kemper scheme. Investors and the industry know it is a terrible RISK and will loose money as the Obama administration promised. They plan to bankrupt ALL coal plants through mounting regulations. (See Steven Chu)
As a result, for the first time in history, the risk is now upon the shoulders of Mississippians. It is the ratepayers buying the Power Plant, the experimental carbon dioxide capturing system, the ever-changing regulations, the Cap and Trade… and NOT the usual industry or investors.
Remember: Other American Power companies are ceasing construction, abandoning the CO2 capturing projects because Cap and Trade failed to pass and costs are $900million OVER BUDGET in the first stage of construction. Our representatives and PSC decided secretly that the people will pay for this risky heavy burden. This could not have come at a worse time.
It becomes a win-win for Agenda 21, Obama’s agenda, Mississippi Power, Southern Company and affiliates because their is now a bottomless purse to pay for anything and everything the plant needs. Including all lobbying fees! It is a private company building a Risky mega-center for Obama’s Green agenda out of our savings accounts. The power company keeps the profits.
Further more I have come to understand, if there is a litigation, If Jim Hood decides to sue, Then the ratepayers and taxpayers pay for that as well including all attorney fees for both sides.
In conclusion the negative credit score demonstrates a high risk to loan money to them for the Kemper Power Plant. The only way Mississippi Power Co could proceed with the build is to find someone to just give them the money, all the money, no matter cost. Who would be such a fool? Well you and I, the rate payers of Mississippi.