Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 296

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 296
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 to the corresponding periods in 2024. Weather-adjusted residential KWH sales increased 2.7% in the third quarter 2025 primarily due to increased customer usage and customer growth. Weather-adjusted residential KWH sales increased 

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

1.2% for year-to-date 2025 primarily due to customer growth. Weather-adjusted commercial KWH sales increased 3.5% and 2.6% in the third quarter and year-to-date 2025, respectively, primarily due to increased customer usage, largely driven by data centers at Georgia Power. Industrial KWH sales increased 1.5% in the third quarter 2025 primarily due to increases in the primary metals and electronics sectors. Industrial KWH sales increased 1.6% for year-to-date 2025 primarily due to increases in the primary metals, paper, and electronics sectors, partially offset by decreases in the pipeline and textiles sectors.

Fuel and other cost recovery revenues increased $94 million and $381 million in the third quarter and year-to-date 2025, respectively, compared to the corresponding periods in 2024 primarily due to higher recoverable fuel costs. Electric rates for the traditional electric operating companies include provisions to adjust billings for fluctuations in fuel costs, including the energy component of purchased power costs. Under these provisions, fuel revenues generally equal fuel expenses, including the energy component of PPA costs, and do not affect net income. The traditional electric operating companies each have one or more regulatory mechanisms to recover other costs such as environmental and other compliance costs, storm damage, new plants, and PPA capacity costs. See Note 2 to the financial statements in Item 8 of the Form 10-K and Note (B) to the Condensed Financial Statements herein for additional information.

Wholesale Electric Revenues

Third Quarter 2025 vs. Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$11115.4$33817.6

In the third quarter 2025, wholesale electric revenues were $832 million compared to $721 million for the corresponding period in 2024. For year-to-date 2025, wholesale electric revenues were $2.3 billion compared to $