Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 307

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 307
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 revenues $124 $122 $246 $244 PPA energy revenues 345 331 716 612 Total PPA revenues469 453 962 856 Non-PPA revenues 69 60 137 120 Other revenues8 11 14 21 Total operating revenues$546 $524 $1,113 $997 

119

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

In the second quarter 2025, total operating revenues were $546 million, reflecting a $22 million, or 4.2%, increase from the corresponding period in 2024. The change in operating revenues was primarily due to the following:

•PPA energy revenues increased $14 million, or 4.2%, primarily due to an increase of $25 million related to the volume of KWHs sold under natural gas PPAs, partially offset by a decrease of $8 million driven by fuel and purchased power prices.

•Non-PPA revenues increased $9 million, or 15.0%, primarily due to an increase of $10 million driven by the market price of energy.

For year-to-date 2025, total operating revenues were $1.1 billion, reflecting a $116 million, or 11.6%, increase from the corresponding period in 2024. The change in operating revenues was primarily due to the following:

•PPA energy revenues increased $104 million, or 17.0%, due to an increase of $58 million primarily related to the volume of KWHs sold under natural gas PPAs and an increase of $46 million driven by fuel and purchased power prices.

•Non-PPA revenues increased $17 million, or 14.2%, due to an increase of $36 million driven by the market price of energy, partially offset by a decrease of $19 million related to the volume of KWHs sold through short-term sales.

•Other revenues decreased $7 million, or 33.3%, primarily due to a $15 million decrease associated with transmission revenues, partially offset by a $6 million increase in receipts associated with liquidated damages related to generation facility production guarantees and warranty settlements.

Fuel and Purchased Power Expenses

Details of Southern Power's generation and purchased power were as follows:

 Second Quarter 2025Second Quarter 2024Year-to-Date 2025