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.
Georgia Power is urging its 2.6 million customers to prepare for the 2021 Atlantic Hurricane Season, which forecasters anticipate to be above normal with a 60% chance of increased activity. The company emphasizes safety and has launched a video series addressing common questions about storm preparedness and power restoration. Georgia Power promotes year-round readiness tips, such as building an emergency kit and understanding local risks. Investments in infrastructure aim to enhance system reliability and resilience against severe weather.
Georgia Power and its foundation have published their annual Citizenship Report, revealing over $20 million in community investments during 2020. The report highlights efforts towards pandemic relief, education, social justice, and environmental stewardship. The foundation supported over 1,000 nonprofits, with a significant focus on aiding communities affected by the COVID-19 pandemic, providing $2.6 million in relief funds. Georgia Power also engaged employees and retirees in volunteer work, contributing more than 55,000 hours to local initiatives.
Georgia Power has announced that Chris Womack will take over as chairman and CEO starting June 1, succeeding Paul Bowers, who is retiring. Womack aims to enhance customer service and reliability while overseeing the historic launch of the first new nuclear units in the U.S. in decades at the Vogtle 3 & 4 project. This initiative supports Southern Company’s goal of net-zero carbon emissions by 2050. Georgia Power is committed to significant investments in equity and renewable energy, planning to increase its renewable generation capacity by over 72% by 2025.
Georgia Power urges customers to review their energy rate plans as summer temperatures rise to help manage electric bills. The company offers several flexible plans, including FlatBill, PrePay, Pay by Day, Smart Usage, Plug-In Electric Vehicle (PEV), Nights & Weekends, and Residential Service. Each plan caters to different usage patterns, allowing customers to choose what best fits their needs and potentially save on costs. Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO), serves 2.6 million customers across Georgia, focusing on reliable and affordable energy.
Southern Company will hold its 2021 Annual Meeting of Stockholders virtually on May 26, 2021, at 10:00 a.m. ET. During the meeting, Chairman and CEO Thomas A. Fanning will provide a business update, focusing on the company's performance and progress towards net zero emissions and Plant Vogtle Units 3 and 4. Stockholders can access the meeting online, starting at 9:45 a.m. ET. A replay will be available 24 hours post-meeting. Southern Company is known for delivering clean, reliable, and affordable energy across several states.
Georgia Power encourages customers to prepare for the summer heat with tips and resources aimed at reducing energy costs. With temperatures expected to reach 90 degrees, the company highlights customizable rate plans that can help manage electricity bills. Customers are urged to review their current plans and explore energy assistance programs supporting those in need. Free online resources like the Online Energy Checkup and My Power Usage program facilitate energy efficiency. These efforts aim to provide reliable energy while keeping costs below the national average.
Georgia Power has announced a donation of $100,000 to the Center for Pan Asian Community Services (CPACS) to support Asian American and Pacific Islander (AAPI) communities. Funds will aid in providing essential services, including interpretation, translation, and COVID-19 relief. This initiative aligns with Georgia Power's commitment to racial equity and community support, especially in response to increased violence against Asian communities during the pandemic. The company emphasizes its dedication to ending racial discrimination and enriching diverse communities across Georgia.
Georgia Power urges its 2.6 million customers to prepare for the Atlantic Hurricane Season, partnering with GEMA and NWS for National Hurricane Preparedness Week from May 9-15. Key safety tips include building an emergency kit, having a communication plan, and understanding risks associated with severe weather. The company emphasizes generator safety and proper food storage during outages. New resources include educational videos and an outage map for real-time updates. Georgia Power continually invests in infrastructure for reliability and resiliency against severe weather events.
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