Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 120

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 120
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 million compared to $187 million for the corresponding period in 2024. The increases for the second quarter and year-to-date 2025 were primarily due to higher pre-tax earnings and decreases of $9 million and $19 million, respectively, in the flowback of certain excess deferred income taxes. See Note (G) to the Condensed Financial Statements herein for additional information.

Georgia Power

Net Income

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(155)(20.3)$50.4

Georgia Power's net income in the second quarter 2025 was $607 million compared to $762 million for the corresponding period in 2024. The decrease was primarily due to higher non-fuel operations and maintenance expenses and depreciation and amortization, weather impacts on retail revenues, and higher income taxes, partially 

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

offset by higher retail revenues associated with increased base tariff and ECCR tariff revenues in accordance with the 2022 ARP, the inclusion of Plant Vogtle Unit 4 in retail rates, and higher contributions from customers with demand-driven pricing. Also partially offsetting this decrease were higher wholesale revenues and other revenues.

For year-to-date 2025, net income was essentially flat compared to the corresponding period in 2024. Higher retail revenues associated with the inclusion of Plant Vogtle Unit 4 in retail rates, increased base tariff and ECCR tariff revenues in accordance with the 2022 ARP, and higher contributions from customers with demand-driven pricing, as well as higher wholesale revenues and other revenues, were largely offset by higher non-fuel operations and maintenance expenses, depreciation and amortization, and income taxes.

Retail Revenues

In the second quarter 2025, retail revenues were $2.8 billion compared to $2.6 billion for the corresponding period in 2024. For year-to-date 2025, retail revenues were $5.4 billion compared to $4.8 billion for the corresponding period in 2024. Details of the changes in retail revenues were as follows:

Second Quarter 2025 vs.Second Quarter 2024Year-to-Date 2025 vs.Year-to-Date 2024(change