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 reports news about an energy provider serving 9 million customers through electric operating companies in three states, natural gas distribution companies in four states, Southern Power, PowerSecure, fiber optics and telecommunications services. Recurring updates cover earnings, dividend actions and operating developments across Alabama Power, Georgia Power, Mississippi Power, Southern Power and Southern Company Gas.
Company news also includes Georgia Power matters before the Georgia Public Service Commission, including resource planning, capacity procurement, solar resources, transmission and distribution upgrades, grid reliability programs, storm readiness and customer safety communications. PowerSecure updates focus on distributed energy solutions such as utility-scale battery storage, solar generation, backup power and resiliency projects.
Southern Company has earned an A- for the third consecutive year in the 2022 CDP Climate Change Disclosure, showcasing leadership in environmental transparency in North America. This score, indicative of best practices in climate strategy, underscores the company's commitment to reducing greenhouse gas emissions, aiming for net zero by 2050. Key highlights include expanded reporting on Scope 3 emissions, third-party assurances on emissions data, and comprehensive risk analyses related to climate impacts. The company emphasizes ongoing stakeholder engagement through transparent disclosure.
Georgia Power has achieved the top ranking for residential customer satisfaction among large utilities in the South, according to J.D. Power's 2022 Electric Utility Residential Customer Satisfaction Study. The company excelled in key areas such as Price, Corporate Citizenship, and Customer Care. Additionally, it was recognized for business customer satisfaction in the same segment. This recognition underlines Georgia Power's commitment to delivering reliable service to its 2.7 million customers despite rising electric bills nationwide.
On December 14, 2022, Southern Company announced a significant milestone in its partnership with Mississippi State University’s Raspet Flight Research Lab. They successfully demonstrated the capabilities of unmanned aircraft systems (UAS) for mapping critical infrastructure and assessing weather-related damage.
This initiative aims to enhance safety, reliability, and efficiency in utility inspections while pursuing FAA approval for beyond visual line of sight operations. Southern Company also received a pioneering BVLOS waiver, enabling safer and more efficient inspections at Alabama Power's Plant Barry, compared to traditional methods.
Virginia Natural Gas (VNG) has presented a $100,000 grant to the Hampton Roads Workforce Council (HRWC) for the NextGen Regional Internship Program, aimed at providing paid internships for young adults aged 16-21. This program enhances workforce training, helping participants gain valuable skills for future employment. Notably, more than 80% of interns secure high-quality jobs, with 98% continuing further education. VNG's commitment follows previous donations of $10,000 in 2021 and $25,000 in 2019, reinforcing its role in developing a skilled workforce in the Hampton Roads area.
The Georgia Natural Gas Foundation has donated $120,000 to HouseProud Atlanta to support no-cost home repairs for low-income seniors, veterans, and disabled homeowners in Atlanta. This initiative aims to protect vulnerable seniors from 'equity theft' by predatory investors amid rising home values. HouseProud collaborates with local groups to identify those in need and ensure that homes remain safe and livable. The grant reflects the Foundation's commitment to enhancing community welfare and improving the lives of those it serves.
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Virginia Natural Gas (VNG) has announced an increase in its procurement of Next Generation Natural Gas to enhance its commitment to reducing greenhouse gas emissions. As of November 1, up to one-third of annual customer demand will be met by this new supply. VNG has secured agreements with suppliers that focus on lowering methane emissions, marking a significant milestone in sustainable energy practices. The initiative includes a partnership with bp for natural gas from Louisiana's Haynesville basin, certified for emissions performance. VNG aims to deliver reliable energy while fostering a low carbon future.
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Georgia Power has appointed Chimaobi (Chima) Chijioke as the new Vice President of Customer Services, effective January 16. Chijioke, who has over 15 years of experience, previously served as Vice President of Customer Operations at Baltimore Gas and Electric. His role includes overseeing customer engagement, call center operations, and billing. Bentina Terry, Senior Vice President, emphasized Chijioke's expertise will enhance customer satisfaction. Georgia Power is recognized for its innovative service and recently ranked number one for business customer satisfaction among large utilities in the South by J.D. Power.
Caliche Development Partners II, in partnership with Orion Infrastructure Capital and GCM Grosvenor, announced the acquisition of Golden Triangle Storage and plans for Central Valley Gas Storage. This $186 million investment aims to enhance underground storage capabilities in North America, supporting the transition to lower-carbon energy solutions. The Golden Triangle Storage deal closed on November 18, 2022, with the Central Valley acquisition pending regulatory approval in 2023. The partnership underscores the growing demand for natural gas storage amidst increasing reliance on renewable energy sources.