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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 Company Gas has announced executive leadership changes as part of its strategic succession planning. Shannon O. Pierce has been appointed senior vice president of Southern Company Gas and president of Virginia Natural Gas, effective September 28. She will assume the role of CEO upon Robert Duvall's retirement on April 1, 2025. Steven M. Murphy has been appointed senior vice president of Southern Company Gas, effective September 28, and will become chief operating officer upon Jay Sutton's retirement on April 1, 2025.
Pierce brings 20 years of experience within Southern Company Gas, while Murphy has over 32 years of company experience. These appointments align with the company's focus on building the future of energy and providing best-in-class service to customers. The transitions are designed to strategically position Southern Company Gas and its subsidiaries to enhance customer value and service quality.
The Georgia Power Foundation has announced the recipients of its Waters for Georgia grant program. The Trust for Public Land and the Seabrook Village Foundation will share $1 million in grants to support water resource-focused projects in Georgia. The program aims to preserve and restore the state's waterways, lakes, and rivers.
The Trust for Public Land will use the funding to restore hydrological infrastructure and establish riverbank plant buffers in Mableton, while the Seabrook Village Foundation will create a living shoreline installation to preserve the Gullah Geechee community's historical heritage site.
Since its launch in 2019, the Waters for Georgia program has supported 18 projects totaling $3 million of investment. The next funding cycle is expected to begin in 2025.
Nicor Gas, in partnership with Rheaply, has expanded its regional Reuse Marketplace to businesses across its Northern Illinois service territory. This expansion follows a successful 2022 pilot and now covers an additional 650 communities. The marketplace facilitates the reuse of surplus inventory and materials from businesses, including furniture, fixtures, and equipment.
During the four-month pilot, the platform saw 137 listings, 198 offers, and 159 completed offers. This resulted in $1.52 million of value created for nonprofit organizations and diverted 80,200 pounds of material from landfills, avoiding approximately 527 kilograms of estimated embodied carbon emissions. Businesses and nonprofits in Nicor Gas' service area can now sign up for the free federated reuse marketplace.
Southern Company has released its 2023 Sustainability Summary, highlighting the company's commitment to providing clean, safe, reliable, and affordable energy while addressing industry challenges. The report focuses on five sustainability pillars: serving customers, advancing clean energy, leading through innovation, investing in people, and elevating communities.
Key achievements include:
- A 49% reduction in greenhouse gas emissions compared to 2007 levels
- Continued focus on energy affordability and expense discipline
- Significant investments in transmission and distribution systems to enhance resilience
- Commitment to workforce development and employee training
The summary serves as a companion to the company's comprehensive sustainability resources available online.
The Georgia Public Service Commission (PSC) has unanimously approved a motion to expedite the return of $122 million to Georgia Power customers starting January 2025. This decision, resulting from recent state tax law changes lowering the company's corporate tax rate, aims to offset inflationary cost increases for customers. The typical residential customer using an average of 1,000 kilowatt hours per month is expected to save approximately $2.25 per month.
This move follows the passage of House Bills 1015 and 1023 by the Georgia General Assembly, signed into law by Governor Brian Kemp in April, which lower the state's income tax rate. Georgia Power maintains a focus on keeping energy affordable, with retail rates averaging 15% below the national average since 1990. The company serves 2.7 million customers across Georgia and is committed to delivering clean, safe, reliable, and affordable energy.
Southern Company has announced that for the third consecutive year, it will provide 100% renewable energy for the TOUR Championship, the PGA TOUR's season-ending event at East Lake Golf Club in Atlanta from Aug. 29-Sept. 1, 2024. The 2023 edition of the tournament achieved GEO Certification for the first time, recognizing its sustainability commitments and progress. Southern Company's sustainable solution for 2024 includes:
- 500,000 kWh of renewable energy credits
- Renewable natural gas for the clubhouse
- 90% electric golf carts
- 11,000 gallons of renewable diesel
- Battery and solar-powered charging stations
- Electric vehicle chargers
This aligns with Southern Company's goal to achieve net zero emissions across its electric and natural gas operations by 2050. The company reduced its GHG emissions by 49% in 2023 compared to 2007 levels.
Georgia Power has identified locations for 500 MW of new battery energy storage systems (BESS) approved in the 2023 Integrated Resource Plan Update. The portfolio includes four projects: Robins BESS (128 MW), Moody BESS (49.5 MW), Hammond BESS (57.5 MW), and McGrau Ford Site Phase II BESS (265 MW). These 4-hour duration BESS will serve as dispatchable capacity resources, providing reliable and economical electricity for winter 2026/2027.
The BESS projects leverage existing infrastructure, reducing deployment time and costs. They qualify for Inflation Reduction Act tax incentives and offer energy arbitrage benefits. Georgia Power is also nearing completion of the 65 MW Mossy Branch Battery Facility and developing the 265 MW McGrau Ford Phase I BESS project.
PowerSecure, a subsidiary of Southern Company (NYSE: SO), has announced a 100% Renewable Fuel Initiative for its Durham campus microgrid. The initiative, starting this month, will use hydrotreated vegetable oil (HVO) as a renewable fuel in the PowerBlock generator, part of the hybrid microgrid.
HVO, a high-quality fuel similar to conventional diesel, is produced through hydrotreatment of vegetable oils or renewable raw materials. This initiative aligns with PowerSecure's commitment to innovation, sustainability, and a clean energy future. CEO Chris Cummiskey emphasized the initiative's role in displacing carbon emissions and serving as a milestone for PowerSecure and its clients.
This move is part of PowerSecure's 'all of the above' energy strategy, designed to provide continued value to customers and communities in the rapidly evolving energy sector.
Georgia Natural Gas® has announced that its Greener Life® program has offset 500 million pounds of carbon emissions, equivalent to removing over 50,000 cars from the road for a year. To celebrate this milestone, the company has enhanced the program to include certified low emissions gas at no additional cost to customers. This gas is sourced from companies using best practices to reduce methane emissions and environmental impact, certified by MiQ, a leading not-for-profit certifier.
Since its launch in 2019, Greener Life has attracted over 30,000 Georgian customers who have made their natural gas usage carbon neutral. The program now offers both carbon offset projects and certified low emissions gas benefits, allowing customers to reduce their emissions footprint more effectively.
Georgia Power, a subsidiary of Southern Company (NYSE: SO), is enhancing its transmission line inspection process by deploying unmanned aerial systems (drones). This innovative approach has led to significant improvements:
- 40% reduction in inspection time
- 60% cost savings compared to traditional methods
- Inspection of 14 miles of transmission lines per day
- Plans to review over 15,000 structures in 2024
The drones capture high-quality images and videos, allowing for detailed inspections of the company's 12,000 miles of transmission lines. This method improves safety, efficiency, and data accuracy while reducing fuel and maintenance costs. The initiative is part of Georgia Power's broader strategy to enhance grid resiliency and operational efficiency.
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