Tag Archives: Elba Island

HB 59 to waive sovereign immunity in certain cases

Sue the state? You’ll lose, because of sovereign immunity, unless HB 59 passes. Then you might be able to sue GA-DNR for circumventing permiting in allowing construction on the Georgia Coast, or if it should approve a compressor station in Albany, or if it should issue any other permits for the Sabal Trail fracked methane pipeline.

State agencies such as the Department of Natural Resources (GA-DNR), can use “letters of permission” to do things like make alterations to Georgia’s coast, and anyone suing to stop it runs up against sovereign immunity unless the issuing agency has expressly waived it. Now that may change with HB 59, “State tort claims; waiver of sovereign immunity for declatory judgment or injunctive relief; provide”. It has six co-sponsors, including Jay Powell, District 171, Camilla, Mitchell County, GA.

Here’s the key part: Continue reading →

Southern Company downgraded to sell over Kemper coal and Vogtle nuclear

Time to break out of the utility death spiral by breaking away from cost overruns at Kemper “clean” Coal and the Plant Vogtle nuclear boondoggle and getting on with real renewable solar and wind power.

UBS wrote 5 May 2014, Southern Company: Kemper Tantrums; Reducing to Sell,

Reducing to Sell on continued delays for the Kemper IGCC project

With further delays and increased costs for the Kemper IGCC project resulting in yet another $380M of writedowns (further slippage costing $25M/month) and now the likely loss of $120M-$150M of bonus depreciation as well, we view the current premium P/E multiple as untenable. While the Vogtle nuclear project appears to be on track, the presence of two major risky projects, Continue reading →