Welcome to our dedicated page for Southern news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on Southern stock.
Southern Company (NYSE: SO) provides essential energy services to millions across the Southeastern United States through electric utilities, natural gas distribution, and innovative infrastructure solutions. This news hub offers investors and stakeholders direct access to the company's official communications and strategic developments.
Stay informed with verified updates spanning earnings announcements, regulatory milestones, grid modernization projects, and sustainability initiatives. Our curated collection ensures timely access to filings, operational updates, and leadership insights directly affecting SO's market position.
Key coverage areas include rate case decisions, renewable energy partnerships, infrastructure investments, and technology deployments. Track the company's progress in balancing traditional utility operations with emerging energy solutions while maintaining regulatory compliance.
Bookmark this page for streamlined monitoring of SO's financial performance, dividend declarations, and long-term growth strategies. Regular updates provide critical context for evaluating this utility leader's role in America's evolving power sector.
Georgia Power has announced the completion of critical inspections for Vogtle Unit 3, with all 398 Inspections, Tests, Analyses, and Acceptance Criteria (ITAACs) successfully met. This step is crucial for the Nuclear Regulatory Commission (NRC) to issue the 103(g) finding needed for fuel loading. Upon receipt of this finding, the startup sequence can begin. The new units aim to supply clean energy to over 500,000 homes while operating with no carbon emissions for 60 to 80 years, affirming Georgia Power's commitment to reliable energy delivery.
Southern Company reported impressive second-quarter earnings of $1.1 billion, or $1.04 per share, significantly up from $372 million, or 35 cents per share, in 2021. For the first half of 2022, earnings reached $2.1 billion, or $2.01 per share, compared to $1.5 billion, or $1.42 per share, last year. Operating revenues surged to $7.2 billion, a 38.6% increase, attributed to higher fuel costs and increased energy usage. The company noted stronger performance from its generation fleet during a record-setting heatwave in June.
The Georgia Public Service Commission approved Georgia Power's 2022 Integrated Resource Plan (IRP), outlining a roadmap for transitioning to cleaner energy sources. Key objectives include:
- Retirement of coal units by 2028, excluding Plant Bowen
- Doubling renewable energy capacity by adding 6,000 MW by 2035
- Investments in battery storage and smart grid technologies
- Introduction of diverse customer programs, including a pilot for income-qualified solar access
This strategic plan aims to ensure reliable and affordable energy for Georgia's 2.7 million customers.
Southern Company announced a regular quarterly dividend of 68 cents per share on its common stock, payable on Sept. 6, 2022. Shareholders of record as of Aug. 15, 2022 will receive this payment. This marks over 70 years of consistent dividend payments, maintaining or exceeding the previous quarter's dividend.
Southern Company serves 9 million customers across multiple states, emphasizing innovation and a low-carbon future in its energy solutions.
The board of directors of Alabama Power has declared a quarterly dividend of $.3125 per share on its Class A Preferred Stock, reflecting a 5.00% yield, for the quarter ending September 30, 2022. This dividend will be payable on October 1, 2022, to shareholders of record as of September 16, 2022. Alabama Power, a Southern Company subsidiary, serves 1.5 million customers in Alabama, providing reliable and affordable electricity.
Billy Andrade, a veteran of the PGA TOUR, has been named the 2022 recipient of the PGA TOUR's Payne Stewart Award, recognizing his character and commitment to charity. The award will be presented on August 23, 2022, during a televised ceremony at the TOUR Championship. Andrade has a notable career spanning 35 years and has raised over $30 million for children's charities through his initiatives. The award includes a $500,000 grant for charities, with Andrade directing funds to several organizations, highlighting his dedication to giving back to the community.
Southern Company will release its second quarter 2022 earnings on July 28, 2022 at 7:30 a.m. EDT. A conference call, featuring CEO Thomas A. Fanning and CFO Daniel S. Tucker, is scheduled for 1 p.m. EDT the same day, aimed at financial analysts. Investors and the public can access a live webcast of the call, with a replay available for a year. Southern Company serves 9 million customers across the U.S., providing energy solutions that include renewables and carbon-free technologies.
Georgia Power has announced a groundbreaking project at Plant Bowen to excavate millions of tons of coal ash for beneficial use in construction materials like concrete. This initiative represents the largest beneficial use project in the U.S. The collaboration with Eco Material Technologies aims to extract and repurpose up to 9 million tons of ash, significantly impacting infrastructure development while reducing landfill usage. The project is set to begin ash removal by 2024, targeting an annual extraction of 600,000 tons.
Georgia Power has submitted a proposal to the Georgia Public Service Commission, seeking permission to invest nearly $7 billion in enhancing electric grid reliability and expanding renewable energy resources over the next three years. The initiative includes doubling solar energy generation and transitioning away from coal, with plans to retire approximately 3,600 MW of coal- and oil-fired generation by 2028. If approved, residential rates will increase by nearly 12%, totaling $16.29 over three years, which is lower than inflation rates.
