Welcome to our dedicated page for The Southern Company news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on The Southern Company stock.
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.
Tropical Storm Elsa is projected to reach Georgia soon, affecting the southern and coastal regions with heavy rainfall and strong winds. Georgia Power urges residents to stay updated on weather conditions and emphasizes safety as their priority. The company is prepared to address service interruptions promptly. They provide various resources, including storm safety videos and outage reporting options through their website and mobile app. Ongoing investments in infrastructure enhance reliability and resiliency against severe weather, ensuring better service for 2.6 million customers.
Southern Company will announce its second-quarter earnings on July 29, 2021, at 7:30 a.m. EDT. The company serves 9 million customers across several states, providing reliable energy solutions. A conference call with CEO Thomas A. Fanning and CFO Andrew W. Evans will take place at 1 p.m. EDT on the same day to discuss earnings details. Investors can access a live webcast of the call, with a replay available for 12 months.
As a leading energy provider, Southern Company focuses on innovation and a low-carbon future, ensuring customer service and reliability.
Georgia Power reminds Georgians about recreational opportunities statewide as summer vacation plans arise. The company operates approximately 100,000 acres of land and 60,000 surface acres of water, making it the largest non-governmental provider of public recreation in Georgia. Visitors can access lakes and facilities through the company's website, where they can purchase passes and reserve camping spots. Georgia Power also emphasizes water safety for families, promoting supervision and swim lessons to prevent accidental drownings, especially during the Independence Day weekend.
Georgia Power has announced a $500,000 investment from the Georgia Power Foundation to the Georgia Justice Project (GJP). This funding aims to remove employment and housing barriers for those with past criminal records, aligning with a broader $75 million commitment over five years. The initiative supports Georgia's new 'expungement law,' benefiting 1.5 million residents by facilitating access to record sealing. GJP will utilize this grant for community outreach, ensuring effective implementation of the law, thereby enhancing opportunities for rehabilitated individuals.
Georgia Power is partnering with the City of Atlanta to install 10,000 energy-efficient streetlights aimed at enhancing safety and reducing crime in high-traffic and high-crime areas. The initiative, part of the "One Atlanta – Light Up the Night" campaign, will lead to a 60% reduction in energy usage and decrease the city's carbon footprint by around 2,000 tons annually. The project follows a comprehensive streetlight inventory conducted by ATL DOT and Georgia Tech, identifying critical areas for lighting improvements.
Nicor Gas has been recognized as the Most Trusted Utility Brand for residential customers in a 2021 study by Escalent. This accolade stems from a survey involving over 76,000 customers across 140 utility companies, measuring factors like reliability and community support. Nicor Gas scored 723 out of 1000, reflecting its efforts in customer assistance and environmental initiatives. Over the past year, the company allocated more than $25 million for bill payment assistance amid the pandemic and pledged to conserve 10,000 acres of open space.
Georgia Power has been recognized as a "Most Trusted Brand" in the utility sector by Escalent's 2021 Cogent Syndicated Utility Trusted Brand & Customer Engagement™: Residential study. This ranking reflects the company's strong performance in communication, customer service, and community support, particularly during the pandemic. The study surveyed over 75,000 customers across 140 utilities. Georgia Power emphasizes its commitment to providing reliable electricity at rates below the national average, focusing on enhanced customer service and energy efficiency initiatives.
Georgia Power has launched initiatives to help customers manage energy costs during the summer season, which typically sees increased energy use. The company's energy efficiency programs include free online energy checkups and rebates for home improvements. Notable programs include the Home Energy Improvement Program and the Home Energy Efficiency Assistance Program for low-income customers. Customers can save significantly by switching to LED bulbs and recycling old refrigerators. Georgia Power emphasizes the importance of thermostat settings and provides tools for tracking energy usage.
Georgia Power is addressing outages caused by heavy rain and gusty winds from Tropical Storm Claudette, affecting around 5,000 customers across central and north Georgia. Crews are encountering downed wires and broken poles due to fallen trees and debris. Residents are urged to prepare for further outages and adhere to safety guidelines. The company emphasizes ongoing infrastructure investments to enhance the resilience and reliability of power services. Customers can seek updates and assistance via their website and mobile app.
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