Southern - SO STOCK NEWS

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.

Georgia Power and Georgia 811 have launched a new public service announcement (PSA) for 811 Day on August 11, emphasizing the importance of contacting the national 'Call Before You Dig' number. The PSA, available in English and Spanish, features Georgia Power employees and Georgia 811's mascot, Digger Dog. Both customers and excavators are advised to call 811 at least three business days before starting any digging projects to have underground facilities marked.

Georgia Power is celebrating 50 years of partnership with Georgia 811, which now includes over 850 utility members and processes more than 1.3 million tickets annually. The initiative aims to prevent damage to underground utilities and ensure safety. For more information, visit www.GeorgiaPower.com/Dig.

Georgia Power is celebrating Generation Appreciation Month this August, highlighting diverse career opportunities in power plants. The company employs over 1,100 team members across the state in various roles, including Engineering, Maintenance, and Operations. Georgia Power hired 80+ team members last year and expects this trend to continue. The company emphasizes its diverse generation mix, including traditional and renewable sources, and the need for an equally diverse workforce.

The company's generation fleet maintained high reliability in 2023, with a low equivalent forced outage rate (EFOR) of 1.49%. Georgia Power continues to add renewable energy and battery storage to its mix while focusing on reliability. The company invites potential employees to explore career opportunities in power generation, offering strong training programs and apprenticeships.

Ericsson (NASDAQ: ERIC) has announced a landmark collaboration with NRTC, Southern Linc, and Anterix (NASDAQ: ATEX) to deliver cutting-edge private network solutions to electric cooperatives across the United States. This partnership aims to provide reliable, resilient, and secure network infrastructure for modernizing grid infrastructure.

Key aspects of the collaboration include:

• NRTC augmenting its fiber capabilities with Ericsson's cellular and microwave technologies
• Southern Linc providing core hosting solutions
• Anterix offering 900 MHz spectrum and ecosystem access
• Enabling co-ops to construct, own, and maintain LTE/5G-ready sites

This initiative is set to revolutionize co-op communications, setting new standards for reliability and security in the digital age.