Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 231

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 231
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 as the authority to spend up to $25 million to undertake engineering studies related to two additional hydro facilities.•RFP for at least 1,100 MWs of utility scale and distributed generation renewable resources.•Issuance of a capacity RFP to procure resources to meet capacity needs in 2032 and 2033.•Strategic power delivery infrastructure plan necessary to help ensure adequate reliability and serve the projected future load growth expected in Georgia.•Certification of approximately 187 MWs of wholesale capacity associated with Plant Scherer Unit 3 to be placed in retail rate base, some of which will be available beginning in 2026.In addition, the 2025 IRP assumes Plant Bowen Units 1 and 2 will operate through at least the end of 2035.Fuel Cost RecoveryOn May 14, 2025, Georgia Power submitted an Interim Fuel Rider (IFR) notification and plan informing the Georgia PSC that Georgia Power's under recovered fuel balance accumulated since May 31, 2023 exceeded the IFR threshold of $200 million, established in a Georgia PSC stipulation approved in May 2023. Georgia Power proposed no fuel cost recovery rate change and is required to monitor and report to the Georgia PSC monthly as long as the under recovered fuel balance accumulated since May 31, 2023 is above $200 million. On September 15, 2025, Georgia Power filed its most recent IFR plan and notification which also proposed no fuel cost recovery rate change. At September 30, 2025, Georgia Power's under recovered fuel balance accumulated since May 31, 2023 did not exceed the IFR threshold of $200 million. Georgia Power is scheduled to file its next fuel case no later than February 28, 2026.

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    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

Nuclear ConstructionGeorgia Power placed Plant Vogtle Units 3 and 4 in service on July 31, 2023 and April 29, 2024, respectively. During the third quarter 2025, following the completion of site demobilization efforts, Southern Nuclear evaluated the remaining contractor obligations and reduced the remaining estimate to complete forecast by approximately $33 million. Accordingly, Georgia Power recorded a pre-tax credit to income of approximately $33 million ($25 million after tax) in the third quarter 2025 to