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.
The board of directors of Alabama Power Company has announced quarterly dividends on its preferred stock for the quarter ending March 31, 2021. The dividends include:
- 4.20% - $1.05 per share
- 4.52% - $1.13 per share
- 4.60% - $1.15 per share
- 4.64% - $1.16 per share
- 4.72% - $1.18 per share
- 4.92% - $1.23 per share
- Class A: 5.00% - $0.3125 per share
These dividends will be payable on April 1, 2021, to shareholders of record as of March 17, 2021.
Southern Company and Apple have partnered to launch the Propel Center, a digital learning hub and incubator in Atlanta, Georgia, dedicated to students from historically black colleges and universities (HBCUs). Each company has pledged $25 million towards this initiative, part of a broader $50 million commitment aimed at enhancing opportunities for HBCU students across several states. The Propel Center will provide vital resources, promote innovation, and aim to improve diversity in STEM fields, addressing the underrepresentation of Black and Hispanic professionals.
Georgia Power has announced adjustments to the construction timeline for Plant Vogtle Units 3 and 4 due to increasing COVID-19 cases and related productivity challenges. The project team is evaluating schedules for hot functional testing and fuel load for Unit 3, anticipating shifts in these key milestones. Despite these delays, Georgia Power remains committed to meeting the November 2021 and 2022 in-service dates. The company will provide further updates during the Southern Company's earnings call in February 2021.
Southern Company has launched a Sustainable Financing Framework, marking it as the first large-cap utility in the U.S. to do so. This Framework allows the issuance of sustainable financing instruments to fund projects in renewable energy, energy efficiency, and social initiatives. The inaugural green bond of $400 million was issued by Southern Power on January 8, 2021, contributing to a total of nearly $3.9 billion in green bonds issued by the company. The Framework aligns with various sustainability principles and goals, reinforcing Southern Company's commitment to a net-zero future.
Nicor Gas has successfully upgraded over 2.2 million natural gas meters as part of its Meter Modernization program, which began two years ago. This initiative aims to enhance customer communication and improve the reliability of meter reading and billing. The upgrades include the installation of two-way communication devices that automate meter readings, allowing for timely and accurate data transmission. The project has also created over 200 jobs during the pandemic, with remaining upgrades primarily needing indoor access. The program aims to further empower customers in managing their energy use and reducing carbon footprints.
Georgia Power is closely monitoring severe weather expected to impact Georgia on New Year's Day. Heavy rain and saturated soil could lead to downed trees and power outages. The company urges customers to prepare by checking emergency kits and staying informed through their storm resources. Storm safety tips include assessing risks before storms, seeking shelter during storms, and avoiding contact with downed power lines afterward. Georgia Power emphasizes its readiness, backed by investments in Smart Grid technology to enhance service reliability.
Georgia Power announced the distribution of 8,000 energy efficiency kits and 150,000 ENERGY STAR® LED bulbs to income-qualified customers in Georgia. The energy kits aim to improve home efficiency and reduce electricity costs. Items included in the kits are LED bulbs, heat shrink wrap, furnace filters, and more. The LED bulbs are expected to save users up to 90% on energy costs. This initiative reflects Georgia Power's commitment to providing affordable energy solutions and enhancing customer satisfaction.
Georgia Power, a subsidiary of Southern Company (NYSE: SO), has shared energy efficiency tips for customers as winter approaches. Key suggestions include maximizing natural sunlight, maintaining heating systems, installing smart thermostats, and improving insulation. The company encourages customers to explore its online Marketplace for energy-efficient products and tools, aiming to help reduce energy costs. Georgia Power prioritizes delivering reliable and affordable energy to over 2.6 million customers, focusing on customer satisfaction and maintaining rates below the national average.
Southern Company announced the appointment of Chris Cummiskey as the new Chief Commercial and Customer Solutions Officer effective January 1, 2021, succeeding Mark Lantrip, who is retiring after 40 years. Cummiskey's role focuses on delivering growth and customer solutions across subsidiaries, emphasizing customer satisfaction and collaboration.
Lantrip's retirement will be effective in April 2021. He has been instrumental in the company’s innovation and growth strategies. Southern Company continues to prioritize a transition to net zero emissions, aligning with its commitment to sustainability and clean energy solutions.
Southern Power, a subsidiary of Southern Company, announced the transfer of 2,409 acres of endangered species habitat in Georgia to the Open Space Institute at a discounted rate. This move contributes to over 10,000 acres preserved for species conservation in the state. The property supports critical wildlife such as the gopher tortoise and hairy rattleweed. Southern Power Chairman Mark Lantrip emphasized the company's commitment to environmental stewardship. The initiative aligns with conservation goals, aiding in the protection of the endangered species and enhancing local ecosystems.