Southern Stock Price, News & Analysis

Georgia Power has been recognized as a "Top U.S. Utility for Economic Development" for the 22nd year in a row by Site Selection magazine. This award highlights the company's significant role in assisting 99 businesses with relocation and expansion, resulting in over 16,000 jobs and $5.2 billion in investments. Over the past decade, Georgia Power has supported over 1,000 companies, creating approximately 161,000 jobs and directing $37 billion in investment into Georgia. This recognition reflects Georgia Power's commitment to fostering economic growth in the state.

Georgia Power crews returned home after a week in Louisiana aiding hurricane restoration efforts following Hurricane Laura. About 100 personnel worked on restoring power, replacing 217 broken poles, 932 spans of wire, and 180 transformers. The company's operations manager emphasized the importance of their dedicated teams and highlighted the Mutual Assistance Network, allowing for efficient responses during storms. With the hurricane season ongoing until November 30, Georgia Power encourages customers to prepare and remain vigilant, sharing safety tips for before, during, and after storms.

Alabama Power has announced important leadership changes aimed at enhancing customer experience and community support. Tony Smoke is now senior vice president of Marketing and Economic Development, bringing over 35 years of experience. Myla Calhoun has been appointed vice president of the Birmingham Division, focusing on operations and community development. Lastly, Tequila Smith will lead philanthropic initiatives as vice president of Charitable Giving. These changes are expected to leverage their extensive backgrounds to better serve over 1.4 million customers across Alabama.

Dr. Selwyn M. Vickers, senior vice president of medicine and dean at the University of Alabama School of Medicine, has been appointed to the board of directors of Alabama Power. This decision, announced on September 3, 2020, was welcomed by Mark Crosswhite, Alabama Power's chairman, highlighting Vickers' expertise as valuable for the company and its customers. Vickers is a renowned pancreatic cancer surgeon and researcher, actively engaged with UAB Medicine and multiple prestigious medical associations. Alabama Power is a subsidiary of Southern Company (NYSE: SO), serving over 1.4 million customers.

Georgia Power, the largest non-governmental recreation facility provider in Georgia, reminds customers and vacationers about safety guidelines as Labor Day weekend approaches. The company emphasizes adherence to social distancing and safety protocols advised by health authorities. With a surge in visitors expected at Georgia's lakes, Georgia Power stresses water and boating safety, highlighting critical tips from the SPLASH initiative to prevent drowning, particularly for young children, who are at a higher risk. For detailed safety information, visit Georgia Power's website.

Georgia Power announced a one-time $12 credit for typical residential customers using 1,000-kilowatt hours on their October bill, as approved by the Georgia Public Service Commission. This credit is part of a $61.6 million customer relief program stemming from Georgia Power's 2019 financial results. Customers who had accounts active as of December 31, 2019, will receive this and two other credits this year, totaling over $45. Combined with lower fuel rates, customers will experience a reduction exceeding $17 in their October bills.

Georgia Power reported that the Vogtle nuclear expansion project is now approximately 87% complete, with in-service dates set for November 2021 for Unit 3 and November 2022 for Unit 4. The company achieved critical testing milestones for Unit 3, including closed vessel testing and successful completion of the final module placement. More than 7,000 workers are currently on site, with over 800 permanent jobs expected once operations begin. Georgia Power emphasizes that safety and quality remain top priorities amidst the ongoing COVID-19 pandemic.

As Hurricane Laura made landfall, Georgia Power dispatched approximately 100 personnel to Baton Rouge to assist Entergy Louisiana with storm restoration efforts. An additional 300 support staff stand ready for further assistance. Georgia Power's mutual assistance network allows collaboration with other utilities to restore power efficiently. The company has also implemented pandemic preparedness measures to ensure the safety of its teams and customers during storm responses.