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.
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Southern Power, a subsidiary of Southern Company, has entered into two 20-year power purchase agreements with Southern California Edison to enhance its solar facilities in California. They will incorporate battery energy storage systems to improve grid reliability. The Garland Solar Facility will add 88 MW and 352 MWh, while the Tranquillity Solar Facility will add 72 MW and 288 MWh of storage. These projects align with Southern Power's strategy of sustainable growth through long-term contracts, further integrating renewable energy into the grid.
On February 2, 2021, Southern Company received an A- from the CDP Climate Change Disclosure for its leadership in environmental transparency in North America. This marks an improvement from a B in 2019. The company aims for net zero emissions by 2050, building on a 50% emissions reduction goal by 2030 from 2007 levels. By participating in the CDP disclosure, Southern Company shows its commitment to environmental accountability. Over 9,600 companies disclosed through CDP in 2020, indicating a growing trend in corporate environmental responsibility.
Georgia Power is urging its 2.6 million customers to prepare for severe weather during Severe Weather Awareness Week from February 1 to 5. Each day focuses on different types of severe weather and safety actions, including family preparedness, thunderstorm safety, tornado safety, lightning safety, and flooding. Georgia Power emphasizes the importance of having an emergency kit, staying updated with weather forecasts, and using their Outage Alert service for notifications. The company maintains a commitment to reliable service and prepares to respond promptly to severe weather-related outages.
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Southern Company is set to release its fourth quarter and full-year 2020 earnings on February 18, 2021, at 7:30 a.m. EST. The conference call, featuring Chairman Thomas A. Fanning and CFO Andrew W. Evans, will take place at 1 p.m. EST. This earnings report will provide insights into the company’s performance and future outlook, impacting its 9 million customers across several states. Investors can access the live webcast and a replay at investor.southerncompany.com/webcasts.
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Southern Company announced a quarterly dividend of 64 cents per share on its common stock, with payment scheduled for Mar. 8, 2021. Shareholders of record as of Feb. 16, 2021 will receive this payment. This marks over 70 years of consistent quarterly dividends being paid at equal or higher rates than the previous quarter. Southern Company provides energy services to approximately 9 million customers across multiple states, focusing on clean, reliable, and affordable energy solutions.
Georgia Power has received two prestigious awards from the Edison Electric Institute (EEI) for its storm response efforts during the 2020 hurricane season. The company was honored with the Emergency Recovery Award for restoring power after Hurricane Zeta and the Emergency Assistance Award for aiding First Energy following Hurricane Isaias. Damage from Hurricane Zeta included approximately 700 broken power poles and more than 822,000 outages. This marks Georgia Power's ninth Emergency Recovery Award and sixth Emergency Assistance Award, recognizing their commitment to public service during challenging times.
Georgia Power is set to commence the dewatering process at Plant Mitchell's ash ponds in February 2021, an important step towards closure. This initiative will facilitate the removal of approximately two million tons of coal ash for reuse in Portland cement manufacturing, marking a significant environmental advancement in Georgia. The plan adheres to both federal and state regulations, ensuring water quality protection. Georgia Power aims for transparent communication with the community, having installed over 550 monitoring wells to safeguard groundwater quality since 2016.