Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 377

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 377
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 be determined at this time. See Note (B) to the Condensed Financial Statements under "Alabama Power – Nuclear Production Tax Credits Order" herein for additional information.

98

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

Georgia Power

2022 ARP

On July 1, 2025, the Georgia PSC approved a settlement agreement among Georgia Power, the staff of the Georgia PSC, and certain intervenors to extend the 2022 ARP for an additional three-year term through December 31, 2028 (ARP Extension). Under the ARP Extension, base rates will not be adjusted in 2026, 2027, or 2028 except for reasonable and prudent storm damage costs incurred through December 31, 2025, which will be determined in a separate regulatory proceeding.

Under the ARP Extension, Georgia Power's retail ROE set point will continue at 10.50% and its equity ratio will continue at 56%. Additionally, the retail ROE range approved by the Georgia PSC in the 2022 ARP, of 9.50% to 11.90%, will continue.

See Note (B) to the Condensed Financial Statements under "Georgia Power – 2022 ARP" herein for additional information.

Integrated Resource Plans

On September 4, 2025, the Georgia PSC approved Georgia Power's June 2025 request to certify a Georgia Power-owned battery energy storage facility with a capacity of 200 MWs and a projected COD in 2027.

On July 30, 2025, Georgia Power requested certification from the Georgia PSC, for which a final decision is expected to be rendered in December 2025, for the following resources:

•As included in the 2022 IRP final order, Georgia Power initiated a request for proposals (RFP) of up to 8,500 MWs of capacity from a variety of resources with projected CODs or delivery commencement dates between 2028 and 2030. The RFP resulted in 18 resources, totaling 7,999 MWs, being selected.

•In July 2025, Georgia Power extended 50 MWs of an existing 750-MW affiliate PPA with Mississippi Power for an additional year through December 31, 2029.

•Additionally, in July 2025, Georgia Power executed a 20-year non-affiliate PPA