Southern Stock Price, News & Analysis

Southern Company is set to release its second quarter earnings on July 30, 2020, at 7:30 a.m. EDT. A conference call with Chairman and CEO Thomas A. Fanning and CFO Andrew W. Evans will follow at 1 p.m. EDT on the same day to discuss the results. Investors and the public can access a live webcast of the call on Southern Company’s investor relations website, which will be available for replay for 12 months. Southern Company serves 9 million customers across various states and is committed to providing clean and reliable energy.

Georgia Power announced a special payment plan for customers struggling with past-due balances due to the COVID-19 pandemic. Customers who enroll by July 15 can defer payments over six months, with no late fees until April 2021. The utility also suspended disconnections until July 15. Additional support includes payment options for PrePay customers and a 17.2% reduction in fuel rates, amounting to $740 million in total savings. Customers may receive a one-time credit of $11.29 on their June bill, enhancing affordability during summer months.

Georgia Power, the largest non-governmental recreation facility provider in Georgia, urges customers and vacationers to adhere to safety guidelines at its lakes during the July 4th weekend. The company emphasizes social distancing, mask-wearing, and group-size restrictions per CDC and Georgia Department of Public Health recommendations. Additionally, Georgia Power supports the SPLASH initiative to reduce drowning incidents, particularly among young children. Key water safety tips include constant supervision of children, wearing life jackets, and being aware of water conditions, ensuring a safe holiday experience.

Southern Company Gas has announced the retirement of Melvin D. Williams, president of Nicor Gas, effective Sept. 1, 2020. Williams has led significant safety improvements and infrastructure rehabilitation during his tenure, including the replacement of over 831 miles of natural gas pipeline and 100,000 service replacements. His successor will be John O. Hudson, III, who previously served as executive vice president and chief external and public affairs officer. Nicor Gas serves over 2.2 million customers in northern Illinois.

Georgia Power announced a resequencing of activities for Plant Vogtle Units 3 & 4 due to COVID-19 impacts and construction productivity challenges. For Unit 3, structural integrity testing will now precede cold hydro testing, which has been delayed to fall 2020. The company aims for a fuel load in 2020, although it's not mandatory until 2021. Current in-service dates remain set for November 2021 and 2022 for Units 3 & 4, respectively. Major milestones achieved include the placement of critical safety modules and completion of testing operations.

On June 22, 2020, Southern Company announced the creation of the Southern Energy Resources Group, uniting Southern Power, PowerSecure, and Southern Holdings under the leadership of Chris Cummiskey as Group CEO. Effective July 1, Cummiskey will oversee competitive power businesses and strategic investments for the company, which serves 9 million customers. Mark Lantrip will continue as chairman of each subsidiary. This restructuring aims to optimize services for large commercial and municipal customers while maintaining brand integrity.

Georgia Power has announced significant leadership changes effective July 1, 2020, aimed at enhancing customer service and operational efficiency. Meredith Lackey will become executive vice president of External Affairs and Nuclear Development, while Sterling Spainhour will take over as senior vice president, General Counsel, Corporate Secretary & Chief Compliance Officer. Additionally, the company's Customer Service and Operations will be restructured into Power Delivery and Corporate and Customer Services to improve reliability and responsiveness. The company's focus remains on delivering clean, reliable energy to 2.6 million customers.

Southern Company Gas has appointed John O. Hudson, III as the new president and CEO of Nicor Gas, effective September 1. Hudson, currently the executive vice president and chief external and public affairs officer, succeeds Melvin D. Williams, who is retiring. Hudson will oversee the delivery of natural gas to over 2.2 million customers in northern Illinois and aims to foster community growth and achieve Illinois' clean energy goals. His previous role included significant regulatory outcomes and the establishment of departments focused on sustainability and innovation.