Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 379

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 379
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 respectively, primarily due to decreased customer usage. Industrial KWH sales increased 3.7% and 4.3% in the second quarter and year-to-date 2025, respectively, primarily due to increases in the chemical and petroleum sectors.

Fuel and other cost recovery revenues increased in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024 primarily as a result of higher recoverable fuel costs. Recoverable fuel costs include fuel and purchased power expenses reduced by the fuel and emissions portion of wholesale revenues from energy sold to customers outside Mississippi Power's service territory. Electric rates include provisions to adjust billings for fluctuations in fuel costs, including the energy component of purchased power costs. Under these provisions, fuel revenues generally equal fuel expenses, including the energy component of purchased power costs, and do not affect net income. See Note 2 to the financial statements in Item 8 of the Form 10-K for additional information.

Wholesale Revenues – Non-Affiliates

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$814.8$2017.7

In the second quarter 2025, wholesale revenues from sales to non-affiliates were $62 million compared to $54 million for the corresponding period in 2024. The increase was primarily due to an increase associated with MRA customers largely due to higher recoverable fuel costs.

For year-to-date 2025, wholesale revenues from sales to non-affiliates were $133 million compared to $113 million for the corresponding period in 2024. The increase was primarily due to a $14 million increase associated with MRA customers largely due to higher recoverable fuel costs and a $5 million increase associated with changes in power supply agreements.

Wholesale revenues from sales to non-affiliates will vary depending on fuel prices, the market prices of wholesale energy compared to the cost of Mississippi Power's and the Southern Company system's generation, demand for energy within the Southern Company system's electric service territory, and the availability of the Southern Company system's generation. Increases and decreases in energy revenues that are driven by fuel prices are 

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

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