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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.
Georgia Power, in partnership with Voices for Georgia's Children, is celebrating Georgia Pre-K Week virtually for the eighth consecutive year due to COVID-19. The initiative features readings by elected officials and Georgia Power representatives to promote literacy and STEM education among Pre-K students. Last year, Georgia Power's Learning Power program reached over 6,600 students, emphasizing energy efficiency and career opportunities. Since 2011, the program has engaged 900,000 students statewide. Georgia Power, a subsidiary of Southern Company (NYSE: SO), aims to deliver reliable energy and customer service across Georgia.
Southern Company Gas has appointed Fredie Carmichael as vice president of corporate communications, effective October 4, 2021. Carmichael will oversee public and media relations, employee communications, and digital initiatives for the company's four natural gas distribution businesses. With over 20 years of experience, including prior roles as director of strategic communications, he aims to enhance the company’s reputation and service delivery. Southern Company Gas serves approximately 4.3 million natural gas customers across four states.
Georgia Power celebrates Environmental Awareness Month by highlighting habitat conservation efforts across Georgia. The company manages over 100,000 acres of land and maintains approximately 12,000 miles of high-voltage transmission lines, creating vital habitats for rare plant species like the Georgia aster and the Smooth Purple Coneflower. Initiatives include special management areas for these plants and a partnership with EPRI for pollinator habitat research aimed at improving soil quality and reducing maintenance costs for solar facilities. Georgia Power remains committed to delivering reliable and affordable energy while prioritizing environmental stewardship.
Georgia Power is enhancing electric vehicle (EV) adoption this National Drive Electric Week by promoting its 'Make Ready' Electric Transportation Program. This initiative funds the installation of charging infrastructure for businesses across Georgia, supporting over 30,000 EVs and 930 public charging stations. The program assists customers with installation and maintenance of charging systems, fostering a robust EV ecosystem. Georgia is now a hub for automotive facilities, generating over $3 billion annually and employing 977,000 workers. For details on funding assistance, visit GeorgiaPower.com/MakeReady.
Southern Company released its 2019/2020 Corporate Responsibility Executive Summary, focusing on ESG disclosures and initiatives. The company aims for net zero GHG emissions by 2050, already achieving a 52% reduction from 2007 levels. Southern commits $200 million over five years for racial equity and social justice, including investing $50 million in HBCUs. The goal is to boost minority business spending to 20% and overall diverse spending to 30% by 2025. Stakeholders can find detailed ESG reports on their website.
Georgia Power's Energy Assistance team has significantly boosted support for customers in need, achieving an 82% increase in assistance provided during 2020. This initiative helped over 8,300 customers receive more than $1.9 million in aid, compared to $728,000 for nearly 4,600 customers in 2019. The company expanded partnerships with community organizations, trained 450 employees, and added numerous resources to support vulnerable groups affected by the pandemic and rising costs. Georgia Power remains focused on enhancing energy assistance programs.
Georgia Power is celebrating Environmental Awareness Month by emphasizing its commitment to protecting Georgia's waterways. The company has showcased its conservation efforts, including the maintenance of 100,000 acres of land and 60,000 acres of water, alongside its role in preserving sensitive species. Notable initiatives include $1 million in water grants for projects across multiple river basins aimed at improving water quality. The company also actively supports shoal bass conservation and engages in community cleanups to enhance the environmental quality of Georgia's lakes and rivers.
Georgia Power's storm teams have successfully returned to Georgia after a 17-day deployment to assist with power restoration efforts in Louisiana and Mississippi following Hurricane Ida. During their mission, crews replaced 475 broken poles and repaired 1,850 spans of wire, benefiting tens of thousands of customers. The effort showcased strong teamwork and communication despite challenging conditions. Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO), remains committed to providing reliable energy to over 2.6 million customers across Georgia.
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