Southern Stock Price, News & Analysis

Georgia Power is deploying approximately 500 personnel to assist Mississippi Power with storm restoration following Hurricane Ida. This response is part of a mutual assistance network among utilities to provide rapid repairs after severe weather. The company is prepared for local service interruptions and is implementing COVID-19 precautions for its teams. Georgia Power serves 2.6 million customers in Georgia and is recognized for its commitment to reliable energy and customer service. The firm maintains a diverse energy generation mix, focusing on affordability and sustainability.

Georgia Power is enhancing the state's electric mobility ecosystem by supporting the adoption of electric vehicles (EVs). With 30,000 EVs and 930 public charging stations currently in Georgia, the company is investing nearly $6 million by 2022 to expand charging infrastructure. This includes installing 51 Direct Current fast chargers, significantly improving travel convenience across the state. By 2030, the company aims to convert 50% of its fleet to EVs and collaborates with major automotive OEMs. Georgia's favorable business conditions and infrastructure are attracting EV-related investments.

Georgia Power announced the election of Aaron Abramovitz as executive vice president, chief financial officer, and treasurer, effective Sept. 1, 2021. Abramovitz, previously vice president at Southern Nuclear, will oversee accounting and financial functions, focusing on the Vogtle 3 & 4 project. This transition follows Dan Tucker's move to Southern Company as executive vice president and CFO on the same date. Abramovitz brings 20 years of experience with Southern Company, aiming to enhance the company's financial stewardship and stakeholder engagement.

Southern Company announced the retirement of Andrew W. Evans, Executive Vice President and Chief Financial Officer, effective Sept. 1, 2021. He will remain as a senior advisor until Dec. 31, 2021. Daniel S. Tucker, currently CFO of Georgia Power, will succeed him. Evans has been with Southern Company since 2002 and served as CFO since 2018, contributing significantly to financial strategies. Southern Company's leadership transitions are part of long-term succession planning aimed at ensuring business continuity.

Georgia Power is mobilizing over 100 employees to assist with recovery efforts in Connecticut due to Hurricane Henri. The team, including linemen and engineers, departed from Lawrenceville at 6 a.m. on Sunday. The utility company is part of a mutual assistance network, allowing it to offer support to other utilities while maintaining service for its own customers. Georgia Power had previously received support from other utilities during major storms like Hurricanes Michael and Irma. Additionally, the company has pandemic protocols in place to ensure worker and customer safety during storm response efforts.

Georgia Power urges customers to review and select a rate plan that aligns with their energy needs as summer temperatures rise. The company offers various flexible options designed to help customers manage their energy costs, including FlatBill®, PrePay, and Smart Usage plans. Georgia Power aims to deliver reliable and affordable energy while maintaining rates below the national average. The company is recognized for its commitment to customer satisfaction, serving 2.6 million customers in Georgia.

Southern Company Gas has partnered with Grammy-winning artist Chauncey Black of Blackstreet to promote safe digging through a remix of the iconic ’90s hit “No Diggity.” The campaign, launched in August for safe digging awareness month, emphasizes the importance of calling 811 before any digging project. The Common Ground Alliance notes that utility line damage occurs every few minutes due to unmarked digging. Black’s involvement aims to raise awareness about the dangers of unsafe digging and encourage adherence to safety guidelines.

PowerSecure, a subsidiary of Southern Company, has appointed Dat Tran as president, effective August 16, 2021. Tran brings over 27 years of experience in the energy sector, previously serving as president of Southern Company Gas' midstream division. This leadership change comes as PowerSecure experiences significant growth in its distributed infrastructure business amidst increasing demand for resilient energy solutions. CEO Chris Cummiskey emphasized the need for sustainable services, particularly in light of recent extreme weather events.

Georgia Power is responding to approximately 8,000 customer outages due to heavy rain and winds from Tropical Storm Fred as of August 17, 2021. Crews are addressing downed wires and poles caused by fallen trees and debris. The company emphasizes safety precautions for customers and provides resources for storm preparedness and outage reporting. Investments in infrastructure and Smart Grid technology aim to enhance reliability and resilience against severe weather.