And when the costs get passed along with the parties in charge bearing little financial risk it is no surprise to see a chart like this one. The runup into the latest earnings release is especially interesting.
I’m going to be spending some time on Edgar learning more about this mess for myself. I see stockcharts like the one linked above against the backdrop of these massive cost overruns at Kemper County and the term moral hazard immediately comes to mind. In layman’s terms, it is easy to take risks when someone else bears a disproportionate share of the financial burden.
Stay tuned because this is likely not the last of the bad news form Southern Company and the Kemper coal boondoggle.