Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 378

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 378
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-to-Date 2024(change in millions)(% change)(change in millions)(% change)$(2)(3.3)$32.7

Mississippi Power's net income for year-to-date 2025 was $114 million compared to $111 million for the corresponding period in 2024. The increase was primarily due to higher retail revenues primarily resulting from changes in rates and pricing, largely offset by an increase in depreciation and amortization.

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    Table of Contents                                Index to Financial StatementsMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL 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,