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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.
Alabama Power has appointed Nicole Faulk as vice president of Transmission Construction and Protection & Control, effective April 1. She will lead teams focused on transmission line and substation construction, enhancing project implementation efficiency. Previously, Faulk served as Georgia Power's senior vice president of Customer Strategy and Solutions, with a strong background in customer service and operations. She holds both bachelor's and master's degrees in mechanical engineering from Auburn University, where she was recognized as the Mechanical Engineering Alumna of the Year in 2018.
Southern Company hosted a virtual event titled Investing in Tomorrow, Today, emphasizing the significance of a diverse talent pipeline in the clean energy sector. Key participants included U.S. Senator Raphael Warnock and Georgia Power’s CEO Chris Womack. The event highlighted a $50 million investment by Southern Company in HBCUs since 2021, aimed at enhancing educational equity and supporting diverse energy workforce initiatives. The company affirmed its commitment to diversity, equity, and innovation in building a clean energy future.
Southern Company will host a virtual event, Investing in Tomorrow, Today, on March 8 at 12:00 pm EST, in partnership with Black Enterprise. The event features notable speakers including U.S. Senator Raphael Warnock and Chris Womack from Georgia Power, discussing the significance of inclusive innovation in the energy sector. The discussions will highlight how diverse talent pipelines and HBCUs can foster opportunities for innovation. The event aims to promote a clean and equitable energy economy.
On March 8th at 12:00 pm EST, Southern Company (NYSE: SO) will co-host a virtual event titled Investing in Tomorrow, Today, focusing on diversity and equity in the energy sector. The event will feature notable speakers including Georgia’s Senator Raphael Warnock and Georgia Power CEO Chris Womack. Discussions will revolve around the significance of inclusive innovation, the role of Historically Black Colleges and Universities (HBCUs), and creating a diverse workforce in the energy field. The event is open for free RSVP.
Virginia Natural Gas (VNG) announced a $100,000 donation to YELLOWHAB, a private school founded by Grammy Award-winning artist Pharrell Williams, to support its 'Nourish Youth' initiative. This initiative aims to introduce healthy eating practices to 40 students in Norfolk, Virginia, primarily those from low-income backgrounds. The funding will provide nutritional meals and educational resources. This partnership builds on VNG's previous collaboration with Williams and highlights the company's commitment to community support and enhancement of student well-being.
Southern Company reported a loss of $215 million, or 20 cents per share, in Q4 2021, down from a profit of $387 million in Q4 2020. Full-year earnings fell to $2.39 billion, or $2.26 per share, compared to $3.12 billion in 2020. Adjusted earnings for Q4 were $380 million, with operating revenues increasing by 12.7% to $5.8 billion. Despite these challenges, the company maintains a positive outlook, projecting 2022 adjusted earnings between $3.50 and $3.60 per share and long-term growth of 5% to 7%.
Southern Company released its 2021 Transformation Report, emphasizing its commitment to diversity, equity, and inclusion (DE&I). Key highlights include that 58% of hires in 2021 were from underrepresented groups, and all operating companies have implemented DE&I training. The company donated $66 million to advance racial equity and plans to invest $225 million through 2025. Additionally, they pledged $40 million of a $50 million commitment to HBCUs. The report underscores Southern Company's intention to align its operations with equity goals.
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