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.
Southern Company has deployed Scythe Robotics' all-electric semi-autonomous mowers at six power plants. These 20-horsepower machines feature eight cameras and sensors for safe operation, automatically avoiding obstacles and adjusting to grass conditions. The emissions-free mowers integrate with level 2 chargers and collect performance data to optimize workflow and manage landscaping costs. This initiative is part of Southern Company's collaboration with Energy Impact Partners (EIP), a utility-backed clean tech investor coalition with over $4.5 billion in assets, which Southern Company co-founded in 2015.
Georgia Power has commenced commercial operation of its first grid-connected battery energy storage system (BESS) at the Mossy Branch Battery Facility. The facility features 65 megawatts of battery storage capacity deployable over four hours, enhancing grid resilience in Georgia. The project, approved in the 2019 Integrated Resource Plan, can store excess energy during low-demand periods for use during high-demand times. Additionally, Georgia Power is developing the 265 MW McGrau Ford Phase I BESS project in Cherokee County, expected to be operational by 2026, and plans to procure 1,000 MW of new battery storage through competitive bidding.
Southern Company marks 25 years of environmental stewardship with significant conservation initiatives. The company's partnership with the National Fish and Wildlife Foundation, spanning over 20 years, focuses on restoring wildlife habitats and ecosystems. The Renew Our Rivers program, celebrating its 25th anniversary in 2024, has removed 8,351 tons of trash through 131,500 volunteers across Southeastern waterways.
Through Waters for Georgia, the Georgia Power Foundation has provided nearly $3 million in grants for water quality improvement projects. Additionally, Virginia Natural Gas leads the Ryan Resilience Series, focusing on ecosystem preservation and community education about environmental stewardship, particularly in marginalized communities.
The Georgia Power Foundation has announced a $1 million grant distribution through its Waters for Georgia program to The Trust for Public Land and the Seabrook Village Foundation. The grants aim to support water resource-focused projects that deliver measurable environmental benefits across Georgia. The Trust for Public Land will use the funding to restore hydrological infrastructure and establish riverbank plant buffers in Mableton, while Seabrook Village Foundation will implement a living shoreline installation to preserve the Gullah Geechee community's heritage site. Since its 2019 launch, the program has supported 18 projects with $3 million in total investments. The next funding cycle is expected in 2025.
Nicor Gas Energy Efficiency Program's Community Connection Center (C3) has won the 2024 E Source Achievement in Residential Customer Experience Award. Launched in 2022, C3 serves as a one-stop shop connecting income-eligible customers with energy efficiency services, bill payment assistance, and basic needs support.
Since its inception, C3 has helped customers access over $18.5 million in energy assistance grants. The program has provided free energy efficiency services to more than 4,500 customers and free groceries to over 5,000 families. This initiative addresses a critical need in Illinois, where approximately 1.5 million people (12% of the state's population) live at or below the poverty level.
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.
