Southern Stock Price, News & Analysis

This holiday season, a collaboration between the Better Business Bureau and utility companies aims to raise awareness about increasing scam attempts targeting consumers. Steve Bernas, CEO of the BBB of Chicago, indicates a rise in imposters posing as utility workers. In 2020, Americans lost over $3.3 billion to fraud, with nearly $1.2 billion due to impersonation scams. The initiative coincides with Utility Scam Awareness Week (Nov. 14-20) to educate customers on protective measures, including verifying identification and never disclosing personal information to unsolicited contacts.

Chattanooga Gas is participating in Utility Scam Awareness Week from Nov. 15-19 to educate customers on prevalent scams, which caused over $3.3 billion in losses in 2020, per the FTC. The company emphasizes the importance of vigilance against tactics used by scammers, such as threats of disconnection and requests for immediate payments through unconventional methods. Chattanooga Gas reassures customers that it employs no aggressive methods and provides tips for identifying legitimate communications.

Atlanta Gas Light joins 150 U.S. and Canadian energy firms for Utility Scam Awareness Week from Nov. 15-19, aiming to educate customers on common scams. In 2020, imposter scams cost consumers over $3.3 billion, with nearly $1.2 billion attributed to imposter scams alone. The company emphasizes customer safety and awareness, advising customers to be vigilant against threats of disconnection, unusual payment requests, and other scam tactics. Atlanta Gas Light will not contact customers regarding natural gas bills, reinforcing its commitment to community awareness and safety.

Southern Company announced the launch of Energy Impact Partners' (EIP) Fund II, securing $1 billion in commitments aimed at advancing climate solutions. The fund focuses on investing in innovative companies enhancing the zero-carbon economy. Southern Company emphasizes its commitment to sustainability and innovation as it collaborates with EIP. Fund II has already invested in over a dozen technology firms critical to energy transition. Southern Company serves 9 million customers and promotes a portfolio of energy resources, including renewables and carbon capture technologies.

Georgia Power announced its commitment to expanding renewable energy, launching a draft Request for Proposals (RFP) for 1,030 MW of new Utility-Scale renewable resources, with in-service dates in 2023 and 2024. This initiative follows the 2019 Integrated Resource Plan, which authorized the procurement of 2,000 MW of renewable resources. Already hosting over 2,700 MW of renewable capacity, Georgia Power aims to enhance its portfolio while offering competitive rates to its customers. Bidding for the RFP will commence in Q1 2022.

The Atlanta Gas Light Foundation has donated $50,000 to the Georgia Justice Project (GJP) to enhance opportunities for rehabilitated individuals impacted by the criminal justice system. This funding aims to assist the estimated 1.5 million eligible Georgians in expunging their criminal records. The initiative aligns with GJP's mission to reduce recidivism through employment and education access. The donation is part of a larger commitment by Southern Company Gas, which is contributing $700,000 to various organizations promoting equity and social justice.

Southern Company reported third-quarter 2021 earnings of $1.1 billion, or $1.04 per share, down from $1.3 billion or $1.18 per share in the same period of 2020. Year-to-date earnings were $2.6 billion, or $2.46 per share, compared to $2.7 billion, or $2.58 per share in 2020. However, excluding certain items, third-quarter earnings improved slightly to $1.30 billion, or $1.23 per share. Operating revenues increased to $6.2 billion in Q3 2021, up 11% year-over-year, driven by higher customer usage and growth, though impacted by $197 million charge related to construction.