Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 2890

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 4
Chunk 2890
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 reasonably estimable and is reduced as expenditures are incurred. The traditional electric operating companies and the natural gas distribution utilities in Illinois and Georgia have each received authority from their respective state PSCs or other applicable state regulatory agencies to recover approved environmental remediation costs through regulatory mechanisms. Any difference between the liabilities accrued and costs recovered through rates is deferred as a regulatory asset or liability. These regulatory mechanisms are adjusted annually or as necessary within limits approved by the state PSCs or other applicable state regulatory agencies.

Georgia Power has been designated or identified as a potentially responsible party at sites governed by the Georgia Hazardous Site Response Act and/or by the federal Comprehensive Environmental Response, Compensation, and Liability Act, and assessment and potential cleanup of such sites is expected. For 2024, 2023, and 2022, Georgia Power recovered approximately $5 million, $5 million, and $12 million, respectively, through the ECCR tariff for environmental remediation.Southern Company Gas is subject to environmental remediation liabilities associated with former manufactured gas plant sites. Southern Company Gas' accrued environmental remediation liability at December 31, 2024 and 2023 was based on the estimated cost of environmental investigation and remediation associated with these sites.At December 31, 2024 and 2023, the environmental remediation liability and the balance of under recovered environmental remediation costs were reflected in the balance sheets of Southern Company, Georgia Power, and Southern Company Gas as shown in the table below. Alabama Power and Mississippi Power did not have environmental remediation liabilities at December 31, 2024 or 2023.Southern CompanyGeorgiaPowerSouthern Company Gas(in millions)December 31, 2024:Environmental remediation liability:Other current liabilities$37 $13 $24 Accrued environmental remediation198 — 198 Under recovered environmental remediation costs:Other regulatory assets, current$37 $5 $32 Other regulatory assets, deferred212 11 201 December 31, 2023:Environmental remediation liability:Other current liabilities$44 $14 $30 Accrued environmental remediation192 — 192 Under recovered environmental remediation costs:Other regulatory assets, current$45 $5 $40 Other regulatory assets, deferred210 15 195 

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The ultimate outcome of these matters cannot