Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1761

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1761
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 of $21 million in 2024, which is included in the table below.Storm damage reserve activity for the traditional electric operating companies during 2023 and 2024 was as follows:SouthernCompanyAlabama PowerGeorgia PowerMississippiPower (in millions)Balance at December 31, 2022$216 $97 $83 $36 Accrual61 18 31 12 Weather-related damages(211)(39)(168)(4)Balance at December 31, 2023$66 $76 $(54)$44 Accrual79 34 31 14 Weather-related damages(850)(40)(804)(6)Balance at December 31, 2024$(705)$70 $(827)$52 The traditional electric operating companies accrued the following amounts related to storm damage recovery in 2022:SouthernCompanyAlabamaPowerGeorgiaPowerMississippiPower(in millions)2022$239 $19 $213 $7 

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

In 2022, costs for weather-related damages charged against storm damage reserves totaled $24 million and $82 million for Alabama Power and Georgia Power, respectively, and were immaterial for Mississippi Power.See Note 2 under "Alabama Power – Rate NDR," "Georgia Power – Storm Damage Recovery," and "Mississippi Power – System Restoration Rider" for additional information regarding each company's storm damage reserve.During 2022, the Alabama PSC and the Mississippi PSC authorized Alabama Power and Mississippi Power, respectively, to make accruals to a reliability reserve if certain conditions are met. During 2024, 2023, and 2022, Alabama Power and Mississippi Power accrued the following amounts to their reliability reserves:SouthernCompanyAlabamaPowerMississippiPower(in millions)2024$84 $63 $21 202363 52 11 2022191 166 25 See Note 2 under "Alabama Power – Reliability Reserve Accounting Order" and "Mississippi Power – Reliability Reserve Accounting Order" for additional information.Materials and SuppliesMaterials and supplies for the traditional electric operating companies generally includes the average cost of transmission, distribution, and generating plant materials. Materials and supplies for Southern Company Gas generally includes the average cost of propane gas inventory, liquefied natural gas inventory, fleet fuel, and other materials and supplies. Materials