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.
The Georgia Power Foundation announced a $1 million investment in environmental grants to support eight organizations in Georgia, aimed at preserving the state's waterways for World Water Day. The funded projects include creek restorations and pollution mitigation initiatives across various counties. The Foundation's philanthropy strategy emphasizes education, environment, and community empowerment. The Waters for Georgia program is designed for measurable environmental benefits, with each project set to be implemented over two years.
Georgia Power alerts customers of impending severe weather, including thunderstorms, damaging winds, and possible tornadoes. The company advises customers to prepare by monitoring local weather updates and following safety protocols. Key preparedness actions include checking emergency kits, securing electrical appliances, and ensuring safe shelter during storms. Georgia Power emphasizes ongoing investments in infrastructure for reliability and resiliency, including Smart Grid technology to enhance outage response. The firm aims to provide clean, reliable energy while maintaining customer service excellence across Georgia.
On March 12, 2021, Georgia Power celebrated National Solar Appreciation Day by highlighting its extensive solar resources and programs available for customers. The company aims to increase its renewable generation by over 72% by 2025, targeting 22% of its energy mix from renewables. Georgia Power currently has over 2,500 MW of renewable resources and plans to add 2,260 MW, with an emphasis on solar. Key programs include Community Solar and Simple Solar, allowing customers to engage with solar energy even without personal installations.
Nicor Gas, serving 2.2 million customers in Northern Illinois, has announced initiatives to assist 250,000 families living at or below the federal poverty line, exacerbated by COVID-19. The company partners with organizations like the Northern Illinois Food Bank and Greater Chicago Food Depository to combat food insecurity, which has surged by 62% in the area. Additionally, Nicor Gas provided care packages to over 2,000 customers and offers energy assistance programs. These efforts aim to alleviate financial burdens during challenging economic times.
Georgia Power has appointed Fran Forehand as the new senior vice president of Power Delivery, effective April 2, 2021. Forehand, who previously served as vice president of Customer Service and Operations at Mississippi Power, has extensive experience in electric system operations. She will oversee the planning, design, and maintenance of the company’s distribution and transmission systems. This change follows the retirement of Glen Grizzle, who had a 40-year career with Georgia Power. The company aims to maintain reliable energy services for its 2.6 million customers across Georgia.
Georgia Power is enhancing electric vehicle (EV) infrastructure in Georgia by investing $6 million over the next three years to install 49 DC fast chargers, allowing drivers to gain 100 miles in just 12 minutes. This initiative is part of the Electric Highway Coalition, enabling seamless EV travel through a coordinated network from Texas to Washington, D.C. Georgia Power's commitment supports the adoption of EVs, with plans to electrify 50% of its fleet by 2030, emphasizing environmental benefits and expanding access for customers.
On March 2, 2021, Southern Company announced its partnership with five other energy firms to form the Electric Highway Coalition, aiming to develop a network of DC fast chargers across major U.S. highways. This initiative addresses concerns about electric vehicle (EV) charging availability during long trips, with projections estimating 18 million EVs on U.S. roads by 2030. The coalition will enhance travel convenience and support Southern Company's commitment to sustainability, pledging net zero greenhouse gas emissions by 2050 and an internal fleet electrification goal by 2030.
Georgia Power's average outage time was 42% lower than the national average in 2019, according to recent data. The company prepared for severe weather by mobilizing over 4,000 personnel during the 2020 storm season, responding to more than 26 severe weather events, including Hurricane Zeta, which impacted over 822,000 customers. Their storm response includes assessing conditions and making swift repairs. Georgia Power emphasizes safety for both workers and customers. The company is a subsidiary of Southern Company (NYSE: SO) and is committed to providing reliable energy across Georgia.
Georgia Power, a subsidiary of Southern Company (NYSE: SO), promotes responsible landscaping on Georgia Arbor Day, emphasizing the importance of planting trees appropriately to enhance power reliability. The company divides planting into three zones and maintains extensive transmission lines to serve 2.6 million customers. Georgia Power planted over 361,000 loblolly pines last year as part of its conservation efforts. Additionally, it encourages customers to call 811 before digging to ensure safety around utility lines.
FAQ
What is the current stock price of The Southern Company (SO)?
What is the market cap of The Southern Company (SO)?
What services does The Southern Company provide?
Where is The Southern Company headquartered?
What recent achievements has The Southern Company made?
What is Southern Company's commitment to renewable energy?
What is Southern Company’s involvement in the Smart Neighborhoods™ project?
How is Southern Company supporting electric vehicle adoption?
What are Southern Company’s values?
How does Southern Company support diversity and inclusion?
How has Southern Company been recognized for its corporate culture?
What is Southern Company’s financial outlook?
