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.
The Southern Company (SO) generates a steady flow of news through its electric and natural gas subsidiaries, regulatory filings and capital markets activity. As an energy provider serving approximately 9 million customers across the Southeast and beyond, its announcements often focus on generation projects, regulatory decisions, financing transactions and community initiatives. Investors and observers following SO news can see how the company’s strategy unfolds across electric utilities, natural gas distribution and related infrastructure businesses.
A significant portion of recent coverage centers on Georgia Power, the largest electric subsidiary of Southern Company. News items describe developments in nuclear energy at Plants Hatch and Vogtle, including long-term operation milestones and the role of Vogtle’s four units as a major source of clean energy. Other releases highlight natural gas generation projects such as new combustion turbine units at Plant Yates, as well as integrated resource plans that outline thousands of megawatts of new gas-fired generation, battery energy storage and solar-plus-storage resources.
Regulatory and rate-related news is another key theme. Georgia Power’s agreements with the Georgia Public Service Commission’s Public Interest Advocacy Staff, multi-year rate plans and certifications of new resources are detailed in press releases and Form 8-K filings. These items explain how base rates, earnings ranges and large-load customer contributions are structured to manage customer bills while funding substantial capital investments.
Southern Company news also includes capital markets transactions, such as the pricing and issuance of equity units that combine stock purchase contracts with remarketable senior notes. In addition, subsidiaries like Southern Company Gas and Georgia Natural Gas issue releases about community support, energy assistance programs and charitable grants. By following SO news, readers can track developments in nuclear and gas generation, grid and transmission upgrades, regulatory outcomes, financing decisions and community engagement across the Southern Company system.
Georgia Power announced a special payment plan for customers struggling with past-due balances due to the COVID-19 pandemic. Customers who enroll by July 15 can defer payments over six months, with no late fees until April 2021. The utility also suspended disconnections until July 15. Additional support includes payment options for PrePay customers and a 17.2% reduction in fuel rates, amounting to $740 million in total savings. Customers may receive a one-time credit of $11.29 on their June bill, enhancing affordability during summer months.
Georgia Power, the largest non-governmental recreation facility provider in Georgia, urges customers and vacationers to adhere to safety guidelines at its lakes during the July 4th weekend. The company emphasizes social distancing, mask-wearing, and group-size restrictions per CDC and Georgia Department of Public Health recommendations. Additionally, Georgia Power supports the SPLASH initiative to reduce drowning incidents, particularly among young children. Key water safety tips include constant supervision of children, wearing life jackets, and being aware of water conditions, ensuring a safe holiday experience.
Southern Company Gas has announced the retirement of Melvin D. Williams, president of Nicor Gas, effective Sept. 1, 2020. Williams has led significant safety improvements and infrastructure rehabilitation during his tenure, including the replacement of over 831 miles of natural gas pipeline and 100,000 service replacements. His successor will be John O. Hudson, III, who previously served as executive vice president and chief external and public affairs officer. Nicor Gas serves over 2.2 million customers in northern Illinois.
Georgia Power announced a resequencing of activities for Plant Vogtle Units 3 & 4 due to COVID-19 impacts and construction productivity challenges. For Unit 3, structural integrity testing will now precede cold hydro testing, which has been delayed to fall 2020. The company aims for a fuel load in 2020, although it's not mandatory until 2021. Current in-service dates remain set for November 2021 and 2022 for Units 3 & 4, respectively. Major milestones achieved include the placement of critical safety modules and completion of testing operations.
On June 22, 2020, Southern Company announced the creation of the Southern Energy Resources Group, uniting Southern Power, PowerSecure, and Southern Holdings under the leadership of Chris Cummiskey as Group CEO. Effective July 1, Cummiskey will oversee competitive power businesses and strategic investments for the company, which serves 9 million customers. Mark Lantrip will continue as chairman of each subsidiary. This restructuring aims to optimize services for large commercial and municipal customers while maintaining brand integrity.
Georgia Power has announced significant leadership changes effective July 1, 2020, aimed at enhancing customer service and operational efficiency. Meredith Lackey will become executive vice president of External Affairs and Nuclear Development, while Sterling Spainhour will take over as senior vice president, General Counsel, Corporate Secretary & Chief Compliance Officer. Additionally, the company's Customer Service and Operations will be restructured into Power Delivery and Corporate and Customer Services to improve reliability and responsiveness. The company's focus remains on delivering clean, reliable energy to 2.6 million customers.
Southern Company Gas has appointed John O. Hudson, III as the new president and CEO of Nicor Gas, effective September 1. Hudson, currently the executive vice president and chief external and public affairs officer, succeeds Melvin D. Williams, who is retiring. Hudson will oversee the delivery of natural gas to over 2.2 million customers in northern Illinois and aims to foster community growth and achieve Illinois' clean energy goals. His previous role included significant regulatory outcomes and the establishment of departments focused on sustainability and innovation.
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Georgia Power has introduced a special payment plan to assist customers facing past-due balances due to the COVID-19 pandemic, allowing payments over six months without late fees from October 2020 to March 2021. The disconnection suspension has been extended to July 15. Customers can also benefit from reduced fuel rates by 17.2%, leading to a $10.26 monthly savings for typical residential customers. Additionally, a one-time $51.5 million credit will offer $11.29 off June bills. The company encourages energy assistance through various programs and online tools.
Georgia Power has been designated as a StormReady Supporter by the National Weather Service, recognizing its commitment to storm safety and preparedness. The certification confirms that Georgia Power meets essential criteria, including 24/7 emergency operations and effective storm communication strategies. Storm Center manager David Maske emphasized the partnership with the NWS for enhanced storm response. The company provides resources for customer safety before, during, and after storms, bolstering its reputation for reliability and customer service in the energy sector.