Welcome to our dedicated page for The Southern news (Ticker: SO), a resource for investors and traders seeking the latest updates and insights on The 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.
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.
Tropical Storm Fred is anticipated to hit Georgia, prompting Georgia Power to urge residents to prioritize safety. The company has prepared for potential service disruptions and encourages customers to monitor weather conditions. They provide resources like storm videos and an Outage & Storm Center for updates and safety tips. Georgia Power emphasizes the importance of infrastructure investment to enhance reliability during severe weather events and offers various tools for outage reporting and safety.
Southern Company has successfully spun out Cloverly, a leading API for carbon offsetting, retaining a minority stake. Cloverly raised $2.1 million in a seed round, led by Tech Square Ventures, with participation from SoftBank's SB Opportunity Fund and others. This move underscores Southern Company's commitment to innovation and decarbonization, as it aims for net-zero GHG emissions by 2050. Cloverly has already offset over 55 million pounds of carbon since its launch in April 2019 and introduces a unique approach to automating carbon offsets during transactions.
Georgia Power encourages customers to adopt energy-saving measures during the extreme summer heat. With temperatures soaring above 90 degrees, the company stresses the importance of taking action to lower electric bills. Georgia Power offers a range of resources, including energy efficiency tips and a dedicated website with tools to help customers manage their energy usage. Key strategies include optimal thermostat settings, HVAC maintenance, and effective food storage. Additionally, the company provides various rate plans and payment assistance programs tailored to customer needs.