Southern Stock Price, News & Analysis

On December 7, 2020, Georgia Power and the Atlanta Business Chronicle announced the third annual Business of Film Rising Star Student Scholarship. This $5,000 scholarship aims to support Georgia students pursuing degrees in film-related studies. This year's recipient is Mia D'Zerrea Taylor, a senior at Oglethorpe University majoring in Theatre. Georgia Power aims to nurture talent in the growing film industry in Georgia by providing resources such as industrial properties and power needs.

Southern Company Gas has appointed David Poroch as the new executive vice president and chief financial officer, effective Jan. 1, 2021. He succeeds Dan Tucker, who will transition to a similar role at Georgia Power. Poroch, who joined Southern Company in 2012, has held key financial roles within the organization, including his recent position as CFO at Georgia Power. His extensive experience in the energy and financial services sectors is expected to drive growth and innovation at Southern Company Gas, which serves approximately 4.2 million natural gas customers.

Georgia Power has appointed Dan Tucker as the new executive vice president, chief financial officer, and treasurer, starting January 1, 2021. Tucker, who has over 20 years of experience at Southern Company, will oversee financial functions at Georgia Power. Previously, he served as CFO at Southern Company Gas, managing finance and risk. His predecessor, David Poroch, will take over his role at Southern Company Gas. Georgia Power continues to focus on providing reliable and affordable energy, serving around 2.6 million customers across Georgia.

Georgia Power concludes the 2020 Atlantic hurricane season, responding to 26 severe weather events, a record number. The season featured Hurricane Zeta, which caused significant damage affecting over 822,000 customers. Over 4,000 personnel were mobilized for restoration efforts, following more than 22,650 outage events and repairs to nearly 400 miles of power lines. The company emphasizes the importance of a mutual assistance network with other utilities and encourages safety awareness for customers. Additionally, Georgia Power prepares for winter weather while maintaining pandemic health protocols.

Southern Power announced the operational status of the 136-MW Skookumchuck Wind Facility in Washington, marking its 12th wind facility and the first in the state. The facility comprises 38 Vestas-manufactured turbines and will sell electricity under a 20-year power purchase agreement with Puget Sound Energy, supporting the Green Direct program. Acquired in October 2019, the project created over 380 construction jobs. Southern Power's wind portfolio now exceeds 2,115 MW, part of a total renewable fleet of 4,510 MW across 41 facilities.

Georgia Power and Southern Company provide $1.625 million in funding for Georgia's Historically Black Colleges and Universities (HBCUs) through the Southern Company Foundation. This grant aims to enhance technology tools and infrastructure for the 2020-2021 academic year, part of a broader $50 million HBCU Initiative initiated in January 2020. Six institutions will benefit, including Morehouse College and Spelman College. The support is crucial for assisting these colleges amid pandemic challenges and fosters leadership development among HBCU students.

Georgia Power has been recognized as the number one utility for business customer satisfaction in the South by J.D. Power for 2020, marking the third consecutive year in this ranking. The evaluation, based on 18,457 responses from business customers spending at least $200 monthly on electricity, highlighted Georgia Power's excellence in price and communication. The company emphasizes its commitment to superior customer service and innovative energy solutions while maintaining rates below the national average.

Georgia Natural Gas (GNG) has initiated the call for entries for its 10th Annual TrueBlue Community Awards, focusing on nonprofits providing COVID-19 relief in Georgia. The awards offer $25,000 in grants, distributed among six nonprofits across four categories: children and education, seniors, energy assistance, and the environment. GNG has previously donated nearly $500,000 to local nonprofits. This initiative is part of Southern Company Gas's overall commitment to pandemic relief efforts, totaling over $2.5 million contributed across various communities.

Georgia Power announced progress in closing four ash ponds at Plant Hammond, with dewatering set to start in December 2020. Three ponds will be excavated and stored in a permitted landfill, while one will be closed in place. The process has gained approval from the Georgia Environmental Protection Division (EPD) and involves rigorous monitoring systems to ensure water quality. Georgia Power emphasizes safety and compliance with federal and state regulations. Since 2016, over 550 groundwater monitoring wells have been installed, reinforcing the company's commitment to environmental protection.