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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.
Southern Power announced the operational status of the 136-MW Skookumchuck Wind Facility in Washington, marking its 12th wind facility and the first in the state. The facility comprises 38 Vestas-manufactured turbines and will sell electricity under a 20-year power purchase agreement with Puget Sound Energy, supporting the Green Direct program. Acquired in October 2019, the project created over 380 construction jobs. Southern Power's wind portfolio now exceeds 2,115 MW, part of a total renewable fleet of 4,510 MW across 41 facilities.
Georgia Power and Southern Company provide $1.625 million in funding for Georgia's Historically Black Colleges and Universities (HBCUs) through the Southern Company Foundation. This grant aims to enhance technology tools and infrastructure for the 2020-2021 academic year, part of a broader $50 million HBCU Initiative initiated in January 2020. Six institutions will benefit, including Morehouse College and Spelman College. The support is crucial for assisting these colleges amid pandemic challenges and fosters leadership development among HBCU students.
Georgia Power has been recognized as the number one utility for business customer satisfaction in the South by J.D. Power for 2020, marking the third consecutive year in this ranking. The evaluation, based on 18,457 responses from business customers spending at least $200 monthly on electricity, highlighted Georgia Power's excellence in price and communication. The company emphasizes its commitment to superior customer service and innovative energy solutions while maintaining rates below the national average.
Georgia Natural Gas (GNG) has initiated the call for entries for its 10th Annual TrueBlue Community Awards, focusing on nonprofits providing COVID-19 relief in Georgia. The awards offer $25,000 in grants, distributed among six nonprofits across four categories: children and education, seniors, energy assistance, and the environment. GNG has previously donated nearly $500,000 to local nonprofits. This initiative is part of Southern Company Gas's overall commitment to pandemic relief efforts, totaling over $2.5 million contributed across various communities.
Georgia Power announced progress in closing four ash ponds at Plant Hammond, with dewatering set to start in December 2020. Three ponds will be excavated and stored in a permitted landfill, while one will be closed in place. The process has gained approval from the Georgia Environmental Protection Division (EPD) and involves rigorous monitoring systems to ensure water quality. Georgia Power emphasizes safety and compliance with federal and state regulations. Since 2016, over 550 groundwater monitoring wells have been installed, reinforcing the company's commitment to environmental protection.
Georgia Power supports National Utility Scam Awareness Week from November 16-20, providing tips to protect customers from scams. The company emphasizes that it will never demand credit card payments over the phone or send employees for in-person payment collection. Customers are advised to contact the official customer service line if they suspect fraud. Georgia Power collaborates with law enforcement to combat utility scams and offers resources online for consumer protection.
Southern Company has announced grants to support technology initiatives at 21 historically black colleges and universities (HBCUs) as part of its $50 million HBCU initiative launched in January 2020. This funding addresses challenges worsened by the pandemic, providing essential technology tools and infrastructure. The grants, up to $500,000 each, are aimed at enhancing career readiness for students. Since the initiative began, the company has invested over $6 million in HBCUs, reinforcing its commitment to education and equity in the face of recent calls for social justice.
Georgia Power has successfully restored power to 99% of over 806,000 customers affected by Hurricane Zeta, with only about 1,000 customers still without service. More than 4,000 personnel worked continuously to address extensive damage, including over 700 broken poles and 3,400 spans of downed wire. The hardest-hit areas include Atlanta and North Georgia. Customers with damaged service entry points must make repairs before reconnection. The company emphasizes safety measures in the aftermath of the storm.
Georgia Power restored power to over 97% of its customers affected by Hurricane Zeta, amounting to approximately 798,000 customers. By 5:30 p.m. on Nov. 1, around 10,000 customers remained powerless, with 4,000 personnel and contractors deployed for restoration. Damage assessment revealed over 700 broken poles, 3,400 spans of wire down, and 250 damaged transformers, particularly hitting areas like Atlanta and North Georgia. High winds during the hurricane complicated restoration efforts. The company urges customers to prioritize safety and be cautious around downed power lines.
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