Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 110

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 110
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 in depreciation and amortization.

For year-to-date 2025, consolidated net income attributable to Southern Company was $3.93 billion ($3.56 per share) compared to $3.87 billion ($3.53 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 sales growth and increases in other revenues, allowance for equity funds used during construction, and natural gas revenues associated with base rate increases, partially offset by increases in depreciation and amortization, non-fuel operations and maintenance expenses, and interest expense.

Retail Electric Revenues

In the third quarter 2025, retail electric revenues were $5.7 billion compared to $5.4 billion for the corresponding period in 2024. For year-to-date 2025, retail electric revenues were $15.1 billion compared to $13.8 billion for the corresponding period in 2024. Details of the changes in retail electric revenues were as follows:

 Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)Rates and pricing$218 4.1 %$772 5.6 %Sales growth97 1.8 172 1.2 Weather(68)(1.3)(52)(0.4)Fuel and other cost recovery94 1.8 381 2.8 Retail electric revenues$341 6.4 %$1,272 9.2 %

Changes in rates and pricing resulted in an increase in revenues in the third quarter and year-to-date 2025 when compared to the corresponding periods in 2024 primarily due to base tariff increases and increased ECCR tariff revenues at Georgia Power in accordance with the 2022 ARP and an increase in Rate RSE at Alabama Power. Also contributing to the year-to-date 2025 increase were the inclusion of Plant Vogtle Unit 4 in retail rates net of elimination of the NCCR tariff and higher contributions from commercial and industrial customers with variable demand-driven pricing, both at Georgia Power. See Note 2 to the financial statements under "Alabama Power" and "Georgia Power" in Item 8 of the Form 10-K for additional information.

Changes in sales resulted in an increase in revenues in the third quarter and year-to-date 2025 when compared