Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 199

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 199
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2.0% of total retail revenues, or approximately $22 million, became effective with the first billing cycle of April 2025, subject to refund. The related proceedings are projected to conclude in summer 2025. The ultimate outcome of this matter cannot be determined at this time.

On April 3, 2025, the FERC approved a settlement agreement filed by Mississippi Power and Cooperative Energy in December 2024, as part of the MRA tariff.

On April 21, 2025, the Florida PSC preliminarily approved Mississippi Power's acquisition of FP&L's 50% ownership interest in Plant Daniel Units 1 and 2. Interested parties may file an objection or protest by May 12, 2025. The ultimate outcome of this matter cannot be determined at this time.

See Note (B) to the Condensed Financial Statements under "Mississippi Power" herein for additional information.

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    Table of Contents                                Index to Financial StatementsMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

RESULTS OF OPERATIONS

Southern Company

Net Income

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$20518.2

Consolidated net income attributable to Southern Company in the first quarter 2025 was $1.3 billion ($1.21 per share) compared to $1.1 billion ($1.03 per share) for the corresponding period in 2024. The increase was primarily due to an increase in retail electric revenues associated with rates and pricing and weather impacts and an increase in other revenues, partially offset by increases in non-fuel operations and maintenance expenses and depreciation and amortization.

Retail Electric Revenues

In the first quarter 2025, retail electric revenues were $4.6 billion compared to $3.9 billion for the corresponding period in 2024. Details of the changes in retail electric revenues were as follows:

 First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)Rates and pricing$360 9.1 %Sales decline(24)(0.6)Weather117 3.0 Fuel and other cost recovery207 5.2 Retail electric revenues$660 16.7 %

Changes in rates and pricing resulted in an increase in revenues in the first quarter 2025 when compared to the corresponding period in