Southern Stock Price, News & Analysis

Georgia Power has been recognized as the top utility company for business customer satisfaction in the South, according to the 2022 Electric Utility Business Customer Satisfaction Study by J.D. Power. This ranking marks a year-over-year improvement for Georgia Power, contrasting the broader industry's decline in customer satisfaction. The study involved 18,694 online interviews of business clients from February to October 2022. Georgia Power caters to 2.7 million customers, offering customized rate plans and energy-saving solutions.

Georgia Power, a subsidiary of Southern Company, is leading a coalition of Southeast utility companies to create a hydrogen hub aimed at reducing carbon emissions. This initiative aligns with the U.S. Department of Energy's $8 billion funding for regional hydrogen hubs under the Infrastructure Investment and Jobs Act. With hydrogen's potential for economic development and decarbonization, Georgia Power has successfully demonstrated a hydrogen-natural gas fuel blend, achieving a 7% reduction in emissions. Since 2007, the company has cut its carbon emissions by over 60%.

Southern Company reported third-quarter 2022 earnings of $1.5 billion, or $1.36 per share, surpassing $1.1 billion ($1.04 per share) from 2021. For the first nine months, earnings reached $3.6 billion ($3.38 per share), up from $2.6 billion ($2.46 per share) year-over-year. Operating revenues surged 34.3% to $8.4 billion in Q3, attributed to increased usage and pricing. Key advancements include the successful initial fuel load at Plant Vogtle Unit 3, enhancing future operational capabilities.

Nicor Gas and Southern Company are collaborating with Habitat for Humanity to create Smart Neighborhood communities in Aurora and Northern Fox Valley, Illinois. The initiative will develop 30 net zero emissions homes, featuring renewable energy technologies to provide affordable housing while minimizing environmental impact. The Aurora site is set for groundbreaking in spring 2023, while development in Northern Fox Valley is scheduled for 2024. This project aims to make energy-efficient homes accessible to low-income families and promote job creation and sustainable practices.

Southern Company and TerraPower achieved a major milestone by completing the installation of the Integrated Effects Test, a significant step in developing the world's largest molten chloride fast reactor (MCFR) technology. This project, part of the Department of Energy's Advanced Reactor Concepts program, aims for a commercial-scale, carbon-free energy source by 2035. The test involved a $76 million investment with a 60%-40% public-private cost share, and it supports future deployment and safety validation of next-generation nuclear reactors, crucial for sustainability and achieving net-zero emissions.

Southern Company has declared a quarterly dividend of 68 cents per share on common stock, set for payment on December 6, 2022. Shareholders of record by November 21, 2022 will receive this dividend. This marks over 70 years of consistent dividend payments at or above the previous quarter's rate. The company serves around 9 million customers, providing reliable energy across multiple states with a commitment to innovation and sustainability.

Virginia Natural Gas (VNG) is expanding its workforce in response to growth in the energy sector, which saw a 4% job increase in 2021. Following a 30% hiring increase in 2020, VNG plans to add nearly 40 new positions in 2022, focusing on utility workers, engineers, and project coordinators. With an aging workforce, they are proactively hiring entry-level roles to ensure continuity. As a recognized Top Workplace, VNG emphasizes employee retention and career growth, aligning with the industry's promising future.