Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 314

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 314
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 Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$19818.9$2039.0

Georgia Power's net income in the third quarter 2025 was $1.2 billion compared to $1.1 billion for the corresponding period in 2024. The increase was primarily due to higher retail revenues associated with rates and 

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    Table of Contents                                Index to Financial StatementsMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

pricing and sales growth, a decrease in taxes other than income taxes, and an increase in other revenues, partially offset by an increase in depreciation and amortization and weather impacts on retail revenues.

For year-to-date 2025, net income was $2.5 billion compared to $2.2 billion for the corresponding period in 2024. The increase was primarily due to higher retail revenues associated with rates and pricing and sales growth and other revenues, partially offset by an increase in non-fuel operations and maintenance expenses, depreciation and amortization, and income taxes.

Retail Revenues

In the third quarter 2025, retail revenues were $3.4 billion compared to $3.2 billion for the corresponding period in 2024. For year-to-date 2025, retail revenues were $8.8 billion compared to $7.9 billion for the corresponding period in 2024. Details of the changes in retail 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 and pricing$111 3.5 %$501 6.3 %Sales growth89 2.8 154 1.9 Weather(50)(1.6)(41)(0.5)Fuel cost recovery24 0.8 203 2.6 Retail revenues$174 5.5 %$817 10.3 %

Changes in rates and pricing resulted in an increase in revenues in the third quarter 2025 when compared to the corresponding period in 2024 primarily due to base tariff increases and increased ECCR tariff revenues in accordance with the 2022 ARP. Changes in rates and pricing resulted in an increase in revenues for year-to-date 202