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The Southern Company (NYSE: SO) is a prominent American gas and electric utility holding company headquartered in Atlanta, Georgia, with executive offices in Birmingham, Alabama. As of 2021, it ranks as the second-largest utility company in the U.S. by customer base, serving around 9 million customers. The company's operational footprint spans vertically integrated electric utilities in Georgia, Alabama, and Mississippi, and natural gas distribution utilities in four states. This robust infrastructure includes 50 gigawatts of rate-regulated generating capacity, primarily designated for customer service in these states. Moreover, its subsidiary Southern Power owns 13 gigawatts of natural gas generation and renewable energy facilities across the U.S., selling electricity primarily through long-term contracts.
Southern Company’s commitment to innovation is highlighted by several recent initiatives. Notably, it reported significant financial achievements for 2023, with fourth-quarter earnings of $855 million, or 78 cents per share, compared to a loss in the same period in 2022. The company also completed Plant Vogtle Unit 3, the first new nuclear unit in the U.S. in over three decades, and recently announced that Plant Vogtle Unit 4 has achieved commercial operation, solidifying its position as a leader in clean energy production.
In terms of sustainability, Southern Company is heavily investing in renewable energy projects. The South Cheyenne Solar Facility in Wyoming, the company's 30th solar facility, recently became operational, adding to Southern Power's solar portfolio, which now exceeds 2,740 MW. The company also envisions a significant expansion of its solar and renewable capacity, aiming to reach approximately 20,000 MW by 2030 as part of its net zero greenhouse gas emissions goal by 2050.
Southern Company is also deeply involved in innovative community projects. For instance, Nicor Gas, a subsidiary of Southern Company Gas, recently launched Smart Neighborhoods™ in Aurora, Illinois, emphasizing affordable net-zero energy communities. Furthermore, the company has partnered with WeaveGrid to promote electric vehicle (EV) adoption by introducing programs that simplify home charging and offer utility incentives in Alabama and Georgia.
The company's dedication to community and diversity extends to initiatives like the UNDERRATED Golf Tour, aiming to provide opportunities to aspiring golfers from underrepresented backgrounds. Southern Company’s commitment to integrity, excellence, and respect is mirrored in its partnership with this tour, underlining its broader mission to foster inclusion within the communities it serves.
Southern Company’s corporate culture and hiring practices have earned national recognition from Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, and the Human Rights Campaign, showcasing the company's focus on excellence and innovation. Through ongoing investments in clean energy, smart technologies, and community development, Southern Company continues to transform energy into economic, environmental, and social progress for a sustainable future.
Southern Linc, a Southern Company (NYSE: SO) subsidiary, has appointed Alan McIntyre as Vice President of Engineering and Operations. McIntyre, with 30 years of wireless telecommunications experience, previously served as Engineering Director where he led the company's LTE technology transformation. His achievements include developing and constructing two redundant core data centers, 1,300 LTE cell sites, and implementing VoLTE and mission-critical push-to-talk systems. McIntyre has extensive wireless spectrum expertise, participated in FCC proceedings, and holds degrees in Electrical Engineering and MBA from Auburn University.
Southern Company leads U.S. utility industry in R&D and innovative energy technologies, focusing on clean energy solutions. The company invests in various research areas including carbon capture, advanced nuclear technologies, hydrogen, and energy storage through partnerships with government, laboratories, and universities. As a founding partner of Energy Impact Partners, managing over $4 billion in assets, Southern Company achieved notable engagement metrics in 2023: 500+ employees participated in EIP events, 50+ partner engagements, and 35 innovative solutions implemented. Key projects include Form Energy's 15 MW iron-air battery development for Georgia Power and Urbint's AI-assisted technology for infrastructure safety.
Georgia Power has been awarded over $160 million in funding from the Department of Energy's Grid Deployment Office through the Grid Resilience and Innovation Partnerships (GRIP) Program. The funding will support grid enhancement projects across Georgia, focusing on expanding transmission capacity and improving resilience. The company will deploy new grid-enhancing technologies, including dynamic line rating technology and reconductoring of high voltage power lines. These investments aim to serve existing and new customers while facilitating the connection of clean generation sources. Georgia Power has invested more than $10 billion in strengthening the power grid over the past decade and serves 2.7 million customers across Georgia.
Southern Company (SO) reported strong third-quarter 2024 earnings of $1.5 billion, or $1.40 per share, up from $1.4 billion ($1.30 per share) in Q3 2023. Operating revenues increased 4.2% to $7.3 billion. Excluding special items, adjusted earnings were $1.6 billion ($1.43 per share). For the nine months ended September 2024, earnings reached $3.9 billion ($3.53 per share), compared to $3.1 billion in 2023. Growth was driven by higher utility revenues, partially offset by increased expenses in interest, depreciation, maintenance, and taxes.
Hurricane Helene has caused unprecedented devastation in Georgia, becoming the most destructive hurricane in Georgia Power's 140-year history, surpassing the combined damage of hurricanes Michael, Matthew, and Irma. The storm damaged over 8,300 power poles, 350 transmission structures, 1,000 miles of power lines, and 4,500 transformers. Georgia Power mobilized more than 20,000 personnel for restoration efforts, successfully restoring power to over 1.5 million customers. The company is working with state leaders, agencies, and local authorities in the rebuilding process, while implementing customer support measures including suspended disconnections and waived late fees.
Hurricane Helene, a Category 4 storm with 140 mph winds, caused unprecedented damage to Georgia Power's infrastructure, affecting nearly 1.5 million customers. The storm damaged over 8,300 power poles, 350 transmission structures, and 4,500 transformers. Southern Company mobilized more than 20,000 personnel for restoration efforts, achieving 99% service restoration by October 7. Atlanta Gas Light handled nearly 1,000 emergency leak calls in late September. The company's foundations donated $3 million for relief efforts, suspended disconnections, and waived eligible late fees through December 15, 2024.
Southern Company Gas has appointed Myra Bierria as senior vice president and chief administrative officer, effective Oct. 26. Reporting to CEO Jim Kerr, Bierria will serve as chief of staff and oversee Corporate Communications, Corporate Impact, and Facilities organizations. She transitions from her current role as vice president and corporate secretary at Southern Company, bringing extensive experience in corporate governance, securities law, and natural gas industry expertise. Bierria's background includes previous positions at Southern Company Gas, a New York law firm, and FedEx She holds notable memberships including fellowship in the American College of Governance Counsel and the International Women's Forum.
Southern Company announced that Executive Vice President and Chief Information Officer Martin B. Davis will retire effective April 1, 2025. During his tenure since 2015, Davis led over 2,000 technology professionals, driving innovation in technology, cybersecurity, and customer solutions. Prior to joining Southern Company, Davis served as CTO at Wells Fargo, where he managed the largest technology integration in U.S. financial services history with Wachovia. Davis holds a business administration degree from Winston-Salem State University and currently serves on the boards of Piedmont Healthcare and South State
Georgia Power, serving 2.7 million customers, has been awarded $160 million in funding by the Department of Energy's Grid Deployment Office. The funding, part of the Grid Resilience and Innovation Partnerships (GRIP) Program, aims to enhance grid flexibility, improve power system resilience, and ensure affordable, reliable electricity access.
Projects will include deploying new grid-enhancing technologies such as dynamic line rating and reconductoring of high voltage power lines. These investments are important for serving existing and new customers, connecting clean generation, and increasing energy resilience. Georgia Power plans to share insights and best practices with the broader industry through collaborations with organizations like EEI and EPRI.
The company will work with community organizations and stakeholders, including IBEW union crews, to provide training on new transmission conductor installation. The project is expected to bring community benefits such as decreased environmental impacts, increased clean enterprise contracting, and job creation.
The Nicor Gas Energy Efficiency Program's Community Connection Center (C3) has been honored with the 2024 E Source Achievement in Residential Customer Experience Award. Launched in 2022, C3 is a unique offering that connects income-eligible customers with energy efficiency and bill payment assistance options, as well as basic needs support.
Since its inception, C3 has helped Nicor Gas customers access over $18.5 million in energy assistance grants. The program has provided free energy efficiency services to over 4,500 customers and free groceries to more than 5,000 families. C3 serves as a one-stop shop for connecting customers with local grants, community partners, and free resources that extend beyond energy bills.
This initiative addresses a critical need in Illinois, where nearly 1.5 million people live at or below the poverty level, representing more than 12% of the state's population. Many of these families struggle to maintain basic essentials, including heat, food, housing, and medical assistance.
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