Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 385

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 385
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 due to higher natural gas prices and gas volumes. Natural gas distribution rates include provisions to adjust billings for fluctuations in natural gas costs. Therefore, gas costs recovered through natural gas revenues generally equal the amount expensed in cost of natural gas and do not affect net income from the natural gas distribution utilities.

Revenues from gas marketing services increased in the third quarter and year-to-date 2025 compared to the corresponding periods in 2024 primarily due to higher commodity prices.

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

Other Revenues

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$51.8$15418.8

In the third quarter 2025, other revenues were $288 million compared to $283 million for the corresponding period in 2024. The increase included an increase of $12 million in unregulated sales primarily associated with power delivery construction and maintenance projects at Georgia Power, offset by a decrease of $12 million in revenues at PowerSecure primarily related to distributed infrastructure projects.

For year-to-date 2025, other revenues were $974 million compared to $820 million for the corresponding period in 2024. The increase was primarily due to increases of $88 million in unregulated sales primarily associated with power delivery construction and maintenance, resiliency, and renewables projects at Georgia Power and $69 million in revenues at PowerSecure primarily related to distributed infrastructure projects.

Fuel and Purchased Power Expenses

 Third Quarter 2025 vs.Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024 (change in millions)(% change)(change in millions)(% change)Fuel$199 17.4 %$579 18.2 %Purchased power10 4.0 100 14.9 Total fuel and purchased power expenses$209 $679 

In the third quarter 2025, total fuel and purchased power expenses were $1.6 billion compared to $1.4 billion for the corresponding period in 2024. The increase was due to a $122 million increase related to the average cost of fuel and purchased power and a $27