Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 129

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 129
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IAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

Retail Revenues

In the second quarter 2025, retail revenues were $274 million compared to $242 million for the corresponding period in 2024. For year-to-date 2025, retail revenues were $522 million compared to $462 million 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 in millions)(% change)(change in millions)(% change)Rates and pricing$8 3.3 %$9 1.9 %Sales growth4 1.7 6 1.3 Weather(2)(0.8)2 0.4 Fuel and other cost recovery22 9.1 43 9.3 Retail revenues$32 13.3 %$60 12.9 %

Changes in rates and pricing resulted in increases in revenues in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024 primarily due to new PEP rates that became effective for the first billing cycle of April 2025. See Note (B) to the Condensed Financial Statements "Mississippi Power – Performance Evaluation Plan" for additional information.

Changes in sales resulted in increases in revenues in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024. Weather-adjusted residential KWH sales increased 2.4% in the second quarter 2025 primarily due to increased customer usage and were flat for year-to-date 2025. Weather-adjusted commercial KWH sales decreased 0.9% and 0.2% in the second quarter and year-to-date 2025, respectively, primarily due to decreased customer usage. Industrial KWH sales increased 3.7% and 4.3% in the second quarter and year-to-date 2025, respectively, primarily due to increases in the chemical and petroleum sectors.

Fuel and other cost recovery revenues increased in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024 primarily as a result of higher recoverable fuel costs. Recoverable fuel costs include fuel and purchased power expenses reduced by the fuel and emissions portion of wholesale revenues from energy sold to customers outside Mississippi Power's service territory. Electric rates include provisions to adjust