Southern - SO STOCK NEWS

Southern Linc, a Southern Company (NYSE: SO) subsidiary, has appointed Alan McIntyre as Vice President of Engineering and Operations. McIntyre, with 30 years of wireless telecommunications experience, previously served as Engineering Director where he led the company's LTE technology transformation. His achievements include developing and constructing two redundant core data centers, 1,300 LTE cell sites, and implementing VoLTE and mission-critical push-to-talk systems. McIntyre has extensive wireless spectrum expertise, participated in FCC proceedings, and holds degrees in Electrical Engineering and MBA from Auburn University.

Southern Company leads U.S. utility industry in R&D and innovative energy technologies, focusing on clean energy solutions. The company invests in various research areas including carbon capture, advanced nuclear technologies, hydrogen, and energy storage through partnerships with government, laboratories, and universities. As a founding partner of Energy Impact Partners, managing over $4 billion in assets, Southern Company achieved notable engagement metrics in 2023: 500+ employees participated in EIP events, 50+ partner engagements, and 35 innovative solutions implemented. Key projects include Form Energy's 15 MW iron-air battery development for Georgia Power and Urbint's AI-assisted technology for infrastructure safety.

Georgia Power has been awarded over $160 million in funding from the Department of Energy's Grid Deployment Office through the Grid Resilience and Innovation Partnerships (GRIP) Program. The funding will support grid enhancement projects across Georgia, focusing on expanding transmission capacity and improving resilience. The company will deploy new grid-enhancing technologies, including dynamic line rating technology and reconductoring of high voltage power lines. These investments aim to serve existing and new customers while facilitating the connection of clean generation sources. Georgia Power has invested more than $10 billion in strengthening the power grid over the past decade and serves 2.7 million customers across Georgia.

Southern Company (SO) reported strong third-quarter 2024 earnings of $1.5 billion, or $1.40 per share, up from $1.4 billion ($1.30 per share) in Q3 2023. Operating revenues increased 4.2% to $7.3 billion. Excluding special items, adjusted earnings were $1.6 billion ($1.43 per share). For the nine months ended September 2024, earnings reached $3.9 billion ($3.53 per share), compared to $3.1 billion in 2023. Growth was driven by higher utility revenues, partially offset by increased expenses in interest, depreciation, maintenance, and taxes.

Hurricane Helene has caused unprecedented devastation in Georgia, becoming the most destructive hurricane in Georgia Power's 140-year history, surpassing the combined damage of hurricanes Michael, Matthew, and Irma. The storm damaged over 8,300 power poles, 350 transmission structures, 1,000 miles of power lines, and 4,500 transformers. Georgia Power mobilized more than 20,000 personnel for restoration efforts, successfully restoring power to over 1.5 million customers. The company is working with state leaders, agencies, and local authorities in the rebuilding process, while implementing customer support measures including suspended disconnections and waived late fees.

Hurricane Helene, a Category 4 storm with 140 mph winds, caused unprecedented damage to Georgia Power's infrastructure, affecting nearly 1.5 million customers. The storm damaged over 8,300 power poles, 350 transmission structures, and 4,500 transformers. Southern Company mobilized more than 20,000 personnel for restoration efforts, achieving 99% service restoration by October 7. Atlanta Gas Light handled nearly 1,000 emergency leak calls in late September. The company's foundations donated $3 million for relief efforts, suspended disconnections, and waived eligible late fees through December 15, 2024.

Southern Company Gas has appointed Myra Bierria as senior vice president and chief administrative officer, effective Oct. 26. Reporting to CEO Jim Kerr, Bierria will serve as chief of staff and oversee Corporate Communications, Corporate Impact, and Facilities organizations. She transitions from her current role as vice president and corporate secretary at Southern Company, bringing extensive experience in corporate governance, securities law, and natural gas industry expertise. Bierria's background includes previous positions at Southern Company Gas, a New York law firm, and FedEx She holds notable memberships including fellowship in the American College of Governance Counsel and the International Women's Forum.

Southern Company announced that Executive Vice President and Chief Information Officer Martin B. Davis will retire effective April 1, 2025. During his tenure since 2015, Davis led over 2,000 technology professionals, driving innovation in technology, cybersecurity, and customer solutions. Prior to joining Southern Company, Davis served as CTO at Wells Fargo, where he managed the largest technology integration in U.S. financial services history with Wachovia. Davis holds a business administration degree from Winston-Salem State University and currently serves on the boards of Piedmont Healthcare and South State

Georgia Power, serving 2.7 million customers, has been awarded $160 million in funding by the Department of Energy's Grid Deployment Office. The funding, part of the Grid Resilience and Innovation Partnerships (GRIP) Program, aims to enhance grid flexibility, improve power system resilience, and ensure affordable, reliable electricity access.

Projects will include deploying new grid-enhancing technologies such as dynamic line rating and reconductoring of high voltage power lines. These investments are important for serving existing and new customers, connecting clean generation, and increasing energy resilience. Georgia Power plans to share insights and best practices with the broader industry through collaborations with organizations like EEI and EPRI.

The company will work with community organizations and stakeholders, including IBEW union crews, to provide training on new transmission conductor installation. The project is expected to bring community benefits such as decreased environmental impacts, increased clean enterprise contracting, and job creation.