Southern Stock Price, News & Analysis

Georgia Power and its foundation have published their annual Citizenship Report, revealing over $20 million in community investments during 2020. The report highlights efforts towards pandemic relief, education, social justice, and environmental stewardship. The foundation supported over 1,000 nonprofits, with a significant focus on aiding communities affected by the COVID-19 pandemic, providing $2.6 million in relief funds. Georgia Power also engaged employees and retirees in volunteer work, contributing more than 55,000 hours to local initiatives.

Georgia Power has announced that Chris Womack will take over as chairman and CEO starting June 1, succeeding Paul Bowers, who is retiring. Womack aims to enhance customer service and reliability while overseeing the historic launch of the first new nuclear units in the U.S. in decades at the Vogtle 3 & 4 project. This initiative supports Southern Company’s goal of net-zero carbon emissions by 2050. Georgia Power is committed to significant investments in equity and renewable energy, planning to increase its renewable generation capacity by over 72% by 2025.

Georgia Power urges customers to review their energy rate plans as summer temperatures rise to help manage electric bills. The company offers several flexible plans, including FlatBill, PrePay, Pay by Day, Smart Usage, Plug-In Electric Vehicle (PEV), Nights & Weekends, and Residential Service. Each plan caters to different usage patterns, allowing customers to choose what best fits their needs and potentially save on costs. Georgia Power, the largest electric subsidiary of Southern Company (NYSE: SO), serves 2.6 million customers across Georgia, focusing on reliable and affordable energy.

Southern Company will hold its 2021 Annual Meeting of Stockholders virtually on May 26, 2021, at 10:00 a.m. ET. During the meeting, Chairman and CEO Thomas A. Fanning will provide a business update, focusing on the company's performance and progress towards net zero emissions and Plant Vogtle Units 3 and 4. Stockholders can access the meeting online, starting at 9:45 a.m. ET. A replay will be available 24 hours post-meeting. Southern Company is known for delivering clean, reliable, and affordable energy across several states.

Georgia Power encourages customers to prepare for the summer heat with tips and resources aimed at reducing energy costs. With temperatures expected to reach 90 degrees, the company highlights customizable rate plans that can help manage electricity bills. Customers are urged to review their current plans and explore energy assistance programs supporting those in need. Free online resources like the Online Energy Checkup and My Power Usage program facilitate energy efficiency. These efforts aim to provide reliable energy while keeping costs below the national average.

Georgia Power has announced a donation of $100,000 to the Center for Pan Asian Community Services (CPACS) to support Asian American and Pacific Islander (AAPI) communities. Funds will aid in providing essential services, including interpretation, translation, and COVID-19 relief. This initiative aligns with Georgia Power's commitment to racial equity and community support, especially in response to increased violence against Asian communities during the pandemic. The company emphasizes its dedication to ending racial discrimination and enriching diverse communities across Georgia.

Georgia Power urges its 2.6 million customers to prepare for the Atlantic Hurricane Season, partnering with GEMA and NWS for National Hurricane Preparedness Week from May 9-15. Key safety tips include building an emergency kit, having a communication plan, and understanding risks associated with severe weather. The company emphasizes generator safety and proper food storage during outages. New resources include educational videos and an outage map for real-time updates. Georgia Power continually invests in infrastructure for reliability and resiliency against severe weather events.

On May 5, 2021, Southern Company Gas took ownership of the Meadow Branch Landfill Methane Recovery Facility, forming a new subsidiary, Southern Company Gas Renewables. This facility enhances the company's ability to provide renewable natural gas (RNG), aligning with its goal of achieving net-zero greenhouse gas emissions by 2050. In 2020, the facility produced 340,000 MMBtu of RNG, enough to power 3,400 homes for a year, while reducing CO2 emissions by nearly 18,000 metric tons. The initiative aims to create economical, sustainable fuel solutions and support local job creation.