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.
The Georgia Public Service Commission approved Georgia Power's 2022 Integrated Resource Plan (IRP), outlining a roadmap for transitioning to cleaner energy sources. Key objectives include:
- Retirement of coal units by 2028, excluding Plant Bowen
- Doubling renewable energy capacity by adding 6,000 MW by 2035
- Investments in battery storage and smart grid technologies
- Introduction of diverse customer programs, including a pilot for income-qualified solar access
This strategic plan aims to ensure reliable and affordable energy for Georgia's 2.7 million customers.
Southern Company announced a regular quarterly dividend of 68 cents per share on its common stock, payable on Sept. 6, 2022. Shareholders of record as of Aug. 15, 2022 will receive this payment. This marks over 70 years of consistent dividend payments, maintaining or exceeding the previous quarter's dividend.
Southern Company serves 9 million customers across multiple states, emphasizing innovation and a low-carbon future in its energy solutions.
The board of directors of Alabama Power has declared a quarterly dividend of $.3125 per share on its Class A Preferred Stock, reflecting a 5.00% yield, for the quarter ending September 30, 2022. This dividend will be payable on October 1, 2022, to shareholders of record as of September 16, 2022. Alabama Power, a Southern Company subsidiary, serves 1.5 million customers in Alabama, providing reliable and affordable electricity.
Billy Andrade, a veteran of the PGA TOUR, has been named the 2022 recipient of the PGA TOUR's Payne Stewart Award, recognizing his character and commitment to charity. The award will be presented on August 23, 2022, during a televised ceremony at the TOUR Championship. Andrade has a notable career spanning 35 years and has raised over $30 million for children's charities through his initiatives. The award includes a $500,000 grant for charities, with Andrade directing funds to several organizations, highlighting his dedication to giving back to the community.
Southern Company will release its second quarter 2022 earnings on July 28, 2022 at 7:30 a.m. EDT. A conference call, featuring CEO Thomas A. Fanning and CFO Daniel S. Tucker, is scheduled for 1 p.m. EDT the same day, aimed at financial analysts. Investors and the public can access a live webcast of the call, with a replay available for a year. Southern Company serves 9 million customers across the U.S., providing energy solutions that include renewables and carbon-free technologies.
Georgia Power has announced a groundbreaking project at Plant Bowen to excavate millions of tons of coal ash for beneficial use in construction materials like concrete. This initiative represents the largest beneficial use project in the U.S. The collaboration with Eco Material Technologies aims to extract and repurpose up to 9 million tons of ash, significantly impacting infrastructure development while reducing landfill usage. The project is set to begin ash removal by 2024, targeting an annual extraction of 600,000 tons.
Georgia Power has submitted a proposal to the Georgia Public Service Commission, seeking permission to invest nearly $7 billion in enhancing electric grid reliability and expanding renewable energy resources over the next three years. The initiative includes doubling solar energy generation and transitioning away from coal, with plans to retire approximately 3,600 MW of coal- and oil-fired generation by 2028. If approved, residential rates will increase by nearly 12%, totaling $16.29 over three years, which is lower than inflation rates.
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Alabama Power has received two Edison Electric Institute (EEI) Emergency Response Awards for its recovery efforts after severe weather events. The awards highlight the company's commitment to restoring power swiftly following disruptions caused by storms and extreme weather, including Winter Storm Landon and severe thunderstorms in Alabama. Alabama Power deployed significant resources, including 173 lineworkers and 178 trucks, to assist in recovery efforts. The company has now earned this award 31 times since 1998, reflecting its dedication to customer service and operational excellence.
Virginia Natural Gas has launched an Energy Efficiency Program to help customers save energy and money as summer temperatures rise. Key tips include:
- Regularly changing air filters to improve HVAC efficiency.
- Adjusting thermostats to higher settings for lower energy consumption.
- Sealing air leaks to maintain cool air indoors.
- Maintaining HVAC systems to ensure optimal performance.
For more tips, customers are directed to visit virginianaturalgas.com/energyefficiency.