Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 300

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 300
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 to nuclear fuel disposal costs.

For year-to-date 2025, total fuel and purchased power expenses were $4.5 billion compared to $3.8 billion for the corresponding period in 2024. The increase was due to a $464 million net increase related to the average cost of fuel and purchased power and a $155 million increase related to the volume of KWHs generated and purchased. Also contributing to the increase was $60 million related to credits recorded at Georgia Power in the third quarter 2024 resulting from litigation related to nuclear fuel disposal costs.

See Note 3 to the financial statements under "Nuclear Fuel Disposal Costs" in Item 8 of the Form 10-K for additional information.

Fuel and purchased power energy transactions at the traditional electric operating companies are generally offset by fuel revenues and do not have a significant impact on net income. See Note 2 to the financial statements in Item 8 of the Form 10-K for additional information. Fuel expenses incurred under Southern Power's PPAs are generally the responsibility of the counterparties and do not significantly impact net income.

Energy purchases will vary depending on demand for energy within the Southern Company system's electric service territory, the market prices of wholesale energy as compared to the cost of the Southern Company system's generation, and the availability of the Southern Company system's generation.

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

Details of the Southern Company system's generation and purchased power and the related costs were as follows:

Third Quarter 2025Third Quarter 2024Year-to-Date 2025Year-to-Date 2024Total generation (in billions of KWHs)(a)5353144145Total purchased power (in billions of KWHs)651613Sources of generation (percent) —Gas53555152Coal21192018Nuclear(a)19181919Hydro1133Wind, Solar, and Other6778Cost of fuel, generated (in cents per net KWH)—Gas3.132.473.402.62Coal3.684.183.814.00Nuclear(a)(b)0.840.910.850.87Average cost of fuel, generated (in cents per net KWH)(a)(b)2.782.512.942.53Average cost of purchased power (in cents per net KWH)(c)4.944.875.