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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.
On March 21, 2023, Alabama Power announced two new incentives aimed at encouraging residential customers to adopt electric vehicles. The EV Home Charger Rebate provides a one-time rebate of
Virginia Natural Gas (VNG) has launched a five-year pilot program approved by the Virginia State Corporation Commission to promote renewable natural gas (RNG) production within its service territory. This initiative is part of VNG's Sustainable Gas Program, aiming for net-zero direct greenhouse gas emissions by 2050. VNG will integrate RNG into its distribution system, marking it as the first local distribution company in Virginia to establish a Commission-approved tariff for RNG interconnections. The initiative supports a clean energy future and enhances local economies while reducing greenhouse gas emissions.
Southern Linc, a subsidiary of Southern Company (SO), has recognized Rich Wiltfang as the 2022 Dealer of the Year for exceptional sales performance. Wiltfang, based in Brunswick, Georgia, is celebrated for being the top sales generator in the company's independent dealer network. He marks his 20th year with Southern Linc, noted for his engaging business name, 'Somebody Call Me'. The recognition occurred during the 2023 Sales Summit in Gulf Shores, Alabama. Wiltfang will be rewarded with a trip to the Grand Cayman Islands alongside other top salespeople. Southern Linc provides secure wireless services across Georgia, Alabama, and Southeast Mississippi.
Southern Company announced the election of David E. Meador and Lizanne Thomas as independent directors, effective April 1, 2023. Meador, a former vice chairman of DTE Energy, brings over 40 years of experience in finance, governance, and energy industry challenges. Thomas, a former partner at Jones Day, is an expert in corporate governance and has extensive experience in mergers and acquisitions. Both are expected to enhance the company's strategic direction, governance, and community engagement as Southern Company navigates the evolving energy landscape.
Alabama Power has announced leadership changes aimed at enhancing customer experience and strengthening community ties. Effective immediately, Alexia Borden has been appointed senior vice president of Customer and Community Engagement; Monica Graveline as senior vice president and General Counsel; Ashley Robinett as senior vice president of Shared Services; Staci Brooks as vice president of Charitable Giving; and Alex McCrary as vice president of Regulatory Affairs. CEO Jeff Peoples emphasized their commitment to meeting customer needs across the state, leveraging their collective expertise.
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