Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 384

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 384
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 electric revenues were $262 million compared to $222 million for the corresponding period in 2024. The increase was primarily due to increases of $29 million in solar application fees and $24 million in realized gains associated with price stability products for retail customers on variable demand-driven pricing tariffs, both at Georgia Power, partially offset by a decrease of $15 million in pole attachment revenues at Alabama Power and Georgia Power.

For year-to-date 2025, other electric revenues were $724 million compared to $631 million for the corresponding period in 2024. The increase was primarily due to increases of $30 million in solar application fees at Georgia Power, $24 million in regulated energy services revenues at Alabama Power and Georgia Power, $20 million in regulated outdoor lighting sales at Georgia Power, and $16 million in realized gains associated with price stability products for retail customers on variable demand-driven pricing tariffs at Georgia Power, partially offset by a decrease of $25 million in pole attachment revenues at Alabama Power and Georgia Power.

Natural Gas Revenues

In the third quarter 2025, natural gas revenues were $734 million compared to $682 million for the corresponding period in 2024. For year-to-date 2025, natural gas revenues were $3.6 billion compared to $3.2 billion for the corresponding period in 2024. Details of the changes in natural gas 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$27 3.9 %$98 3.0 %Gas costs and other cost recovery23 3.4 189 5.9 Gas marketing services5 0.7 40 1.2 Other(3)(0.4)5 0.2 Natural gas revenues$52 7.6 %$332 10.3 %

Changes in rates resulted in an increase in revenues in the third quarter and year-to-date 2025 compared to the corresponding periods in 2024 primarily due to base rate increases at Atlanta Gas Light and Virginia Natural Gas. See Note 2 to the financial statements under "Southern Company Gas – Rate Proceedings" in Item 8 of the Form 10-K for additional information.

Revenues from gas costs and other cost recovery increased in the third quarter and year-to-date 2025 compared to the corresponding periods in 2024 primarily