The Mississippi Public Service Commission is giving Mississippi Power Co., and regulators more time for settlement discussions concerning the utility’s $7.5 billion power plant in Kemper County.

Public Service Commission Chairman Brandon Presley announced the extension Friday afternoon on his Twitter page, tweeting that the deadline for settlement discussions has been extended to Sept. 5.

According to a PSC press release, Mississippi Power and Public Utilities staff were unable to reach a settlement by Monday’s deadline after the commission’s July 6 order for Mississippi Power and “other parties” to reach a settlement concerning the plant within 45 days.

The PSC on Monday said in a press release that it would order a status conference by Friday in which “parties will update the Commission on the status of negotiations as well as provide direction to parties of record moving forward,” the release said.

A spokesman with Mississippi Power on Friday said the company will participate in all negotiations.

In its filing, Mississippi Power says it wants customers to pay for $277 million more in assets than the Public Utilities Staff believes is necessary, the Associated Press reported on Tuesday.

This will have little impact on rates in the beginning, but Public Utilities Staff Executive Director Virden Jones said customers over time would pay more under this plan, the AP reported.

The PSC order included relicensing the plant as a natural gas facility and ensuring that rates do not increase. The PSC also suggested that customers see a decrease in rates.

According to a Mississippi Power press release, its settlement agreement includes “the removal of risk to our customers for the gasifier and related assets, no rate increase to customers and operation of Kemper as a natural gas facility.”

“The company believes this is a fair resolution that will make sure customers are not subjected to a rate increase related to the Kemper gasifier,” Mississippi Power Chairman, President and CEO Anthony L. Wilson said in the release. “It is unfortunate that some parties are more interested in proposals that could decrease the strength of the company and place our operations at risk. We stand ready to continue discussions with other parties on this settlement to reach an equitable solution for all.”

Atlanta-based Southern Co., the parent company of Mississippi Power, announced recently that it would absorb an additional $2.8 billion in losses from the Kemper County power plant’s lignite coal operation — bringing the total to nearly $6 billion in losses.

Charges recorded through May 2017 were $3.07 billion, according to a statement from Mississippi Power.

“…[The] company does not expect that the gasification portions of the project are probable of rate recovery,” the release said. “Therefore, Mississippi Power and Southern Company recorded an additional $2.8 billion charge in June 2017, which includes estimated costs associated with the gasification portions of the plant and lignite mine.”