Continued investments in "smarter grid" result in fewer power outages and quicker restoration times  ATLANTA, March 7, 2024 /PRNewswire/ -- Georgia Power continues to build the future of energy by making valuable investments in Georgia's energy grid to make it stronger and more resilient for customers. Over the past 10 years, the company has invested more than $10 billion in strengthening the power grid through programs and initiatives approved by the Georgia Public Service Commission (PSC). Georgia Power c ...

Southern Co. (SO) closed the latest trading day at $66.86, indicating a -0.58% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.23%, while the tech-heavy Nasdaq appreciated by 1.14%.The the stock of power company has fallen by 4.61% in the past month, lagging the Utilities sector's gain of 0.14% and the S&P 500's gain of 5.2%.Market participants will be closely following the financial results of Southern Co. in ...

Milestone in startup testing marks first generation of electricity from Unit 4 ATLANTA, March 1, 2024 /PRNewswire/ -- Georgia Power announced today that Unit 4 at the Vogtle nuclear expansion project near Waynesboro, Georgia, has achieved another major milestone in startup testing by generating electricity and successfully synchronizing and connecting to the electric grid for the first time. This milestone follows initial criticality, reached on February 14, when operators safely started the nuclear reactio ...

U.S.-based, The Southern Company (SO) has announced that Unit 4 at its Vogtle Nuclear plant has reached initial criticality. This is a crucial step in the start-up testing sequence. The company also mentioned that the initial criticality stage has been reached safely, which means operators have started the nuclear reaction inside the reactor for the first time. The nuclear fuel in the reactor will split the atoms and generate heat, which will be used to produce steam later.Following this achievement, Vogtle ...

Power supplier The Southern Company (SO) reported fourth-quarter 2023 earnings per share (excluding certain one-time items) of 64 cents, ahead of the Zacks Consensus Estimate of 59 cents and significantly above the year-ago adjusted profit of 26 cents. The outperformance reflects lower-than-expected operating expenses to go with the positive effects of weather, rates, usage and pricing changes.Meanwhile, the utility reported revenues of $6 billion. The top line missed the Zacks Consensus Estimate of $7.7 bi ...

Financial Data and Key Metrics Changes - The company reported adjusted earnings per share of $3.65 for 2023, which was at the top of the guidance range [195] - The projected long-term adjusted EPS growth rate is estimated at 5% to 7% [180] - The capital investment forecast totals $48 billion, reflecting a $5 billion increase compared to the previous year, indicating a 12% increase in capital spending [181] Business Line Data and Key Metrics Changes - Weather-adjusted retail electric sales decreased by 0.4% in 2023 compared to 2022, with commercial sales growing by 1.3% and industrial sales down nearly 2% [178][179] - The company added over 46,000 residential electric customers and nearly 27,000 residential gas customers in 2023, marking the highest four-year total in decades [197] Market Data and Key Metrics Changes - Electricity sales growth is projected to remain around 1% to 2% for 2024 and 2025, with an acceleration to approximately 6% annually from 2025 to 2028 [198] - Georgia Power's total retail electric sales growth is projected to be approximately 9% annually over the same period [198] Company Strategy and Development Direction - The company aims to maintain strong investment-grade credit ratings and believes that high-quality credit is essential for being a high-quality equity investment [182] - The focus remains on increasing the resiliency of electric and gas networks and technology infrastructure through disciplined capital forecasting [181] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant inflation and higher interest rates as headwinds, translating to hundreds of millions of dollars in higher interest expenses for 2024 compared to previous assumptions [199] - The completion of Vogtle Unit 4 is projected for April 2024, which is expected to improve the company's financial profile and reduce major project construction risk [175][182] Other Important Information - The company achieved a 49% reduction in greenhouse gas emissions in 2023, moving towards its interim goal of a 50% reduction by 2030 [192] - The company was recognized as the number one most admired electric and gas utility in Fortune magazine's World's Most Admired Companies list for 2024 [192] Q&A Session Summary Question: What drove the assumptions around the capital plan? - The capital plan includes new combustion turbines and specific storage projects, reflecting the company's ongoing resource needs [20] Question: When do you expect to achieve a 17% FFO to debt ratio? - The company anticipates reaching this target by 2025, with incremental capital deployment improving cash flow over time [12] Question: How does load growth impact earnings growth? - Management indicated that while load growth is strong, interest expense is a significant headwind affecting earnings growth [90] Question: Will the dividend growth trajectory change? - The company expects dividend growth to remain below earnings growth for the next few years, maintaining a consistent increase of $0.08 per share [121] Question: How does the company plan to manage operating costs with demand growth? - There is a relationship between demand growth and operating costs, but the company is focused on efficiency and cost management to mitigate increases [122]

>90% of Earnings from state-regulated utilities Customer +8¢ +8¢ Strong near-term adjusted EPS projections and a clean, simple growth story * Future dividends are subject to approval of the Southern Company Board of Directors and depend on earnings, financial condition and other factors. 2002 2023 2020 Southern Company's weighted average long-term debt maturity is over 16 years | --- | --- | --- | --- | --- | |---------------------------------|--------|------------------|--------|-----------| | Long-term De ...

Southern Co. (SO) reported $6.05 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 14.2%. EPS of $0.64 for the same period compares to $0.26 a year ago.The reported revenue represents a surprise of -21.86% over the Zacks Consensus Estimate of $7.74 billion. With the consensus EPS estimate being $0.59, the EPS surprise was +8.47%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...

Exhibit spotlights new Smart Neighborhoods™ collaboration between Nicor Gas, Fox Valley Habitat for Humanity and the City of Aurora AURORA, Ill., Feb. 14, 2024 /PRNewswire/ -- The City of Aurora and Nicor Gas announced today the unveiling of a new educational exhibit on Smart Cities on the first floor of the Development Services Building at City Hall. The ribbon cutting for the new exhibit will take place on February 14, 2024. The exhibit tells the story of how smart and connected technologies, when combine ...

Financial Performance - The Southern Company reported a significant increase in revenue, reaching $20.5 billion for the fiscal year, representing a 10% year-over-year growth[7]. - The company achieved a net income of $3.1 billion, which is a 15% increase compared to the previous year[7]. - Southern Company reported a return on equity (ROE) of 10.5%, which is consistent with its long-term financial targets[19]. - The company anticipates a stable dividend payout, maintaining a dividend yield of approximately 4.5% for shareholders[7]. - Southern Company anticipates a stable dividend payout, maintaining a dividend yield of approximately 4% for shareholders[19]. Customer Growth - Customer growth was noted with an addition of 150,000 new customers, bringing the total customer base to approximately 9.5 million[7]. - Customer growth was noted with an addition of 150,000 new customers, reflecting a 2% increase in the customer base[19]. Investment and Infrastructure - The company plans to invest $5 billion in renewable energy projects over the next five years, aiming for a 30% reduction in greenhouse gas emissions by 2030[7]. - Southern Company plans to invest $5 billion in renewable energy projects over the next five years, aiming to increase its renewable capacity by 30%[19]. - The company has set a capital expenditure guidance of $12 billion for the upcoming fiscal year, focusing on infrastructure improvements and technology upgrades[7]. - Southern Company has initiated a new strategy to enhance its natural gas infrastructure, with plans for a $1.2 billion pipeline expansion[20]. - Southern Company is expanding its market presence by entering into a joint venture for a new natural gas facility expected to generate 1,200 MW of power by 2025[7]. Strategic Acquisitions - Southern Company is actively pursuing strategic acquisitions to enhance its portfolio, with a target of completing at least two acquisitions in the next 18 months[7]. - Southern Company is exploring potential acquisitions in the renewable energy sector to diversify its portfolio and enhance growth[20]. Operational Challenges - Southern Company is facing challenges related to the construction and operation of Plant Vogtle Unit 4, including potential cost overruns and delays due to various factors such as labor costs and contractor performance[20]. - The company is currently managing the financial implications of potential funding obligations to MEAG Power regarding Plant Vogtle Units 3 and 4, which could affect cash flow[22]. - Southern Company is committed to overcoming operational challenges at Plant Vogtle Unit 4, which may include addressing environmental and geological conditions that could delay project timelines[20]. Regulatory and Compliance - Southern Company is focused on maintaining compliance with state and federal regulations, including rate cases and negotiations that could influence return on equity and cost recovery mechanisms[22]. - The company is subject to ongoing litigation and regulatory investigations concerning the Kemper County energy facility and Plant Vogtle Units 3 and 4, which may impact future operations[20]. Market Conditions - Southern Company is assessing the impact of competition from alternative energy sources in its operating markets, which could affect market share and pricing strategies[20]. - Southern Company is monitoring global economic conditions, including inflation and interest rate fluctuations, which could impact financing costs and overall financial performance[22]. Technological Advancements - The company is developing new technologies in energy storage, with a pilot project aimed at increasing battery capacity by 50% by 2024[7]. - Southern Company is exploring advancements in low- to no-carbon energy technologies and battery energy storage, which are critical for future growth and compliance with environmental regulations[22].