Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 16

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 5
Chunk 16
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, and the number of customers. Weather-adjusted retail energy sales increased by 1.1 billion KWHs in 2024 as compared to 2023. Weather-adjusted residential KWH sales decreased 0.5% primarily due to decreased customer usage, partially offset by customer growth. Weather-adjusted commercial KWH sales increased 2.2% primarily due to increased customer usage, primarily driven by existing data centers, and customer growth. Industrial KWH sales increased 0.7% primarily due to increases in the pipeline and transportation sectors, partially offset by a decrease in the primary metals sector.

See "Electric Operating Revenues" above for a discussion of significant changes in wholesale revenues related to changes in price and KWH sales.

Fuel and Purchased Power Expenses

The mix of fuel sources for the generation of electricity is determined primarily by demand, the unit cost of fuel consumed, and the availability of generating units. Additionally, the electric utilities purchase a portion of their electricity needs from the wholesale market.

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    Table of Contents                                Index to Financial Statements        COMBINED MANAGEMENT'S DISCUSSION AND ANALYSIS

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

20242023Total generation (in billions of KWHs)(a)188 184 Total purchased power (in billions of KWHs)18 18 Sources of generation (percent) —Gas52 54 Nuclear(a)20 18 Coal18 17 Hydro2 3 Wind, Solar, and Other8 8 Cost of fuel, generated (in cents per net KWH) —Gas2.62 2.77 Nuclear(a)(b)0.86 0.76 Coal3.94 4.33 Average cost of fuel, generated (in cents per net KWH)(a)2.50 2.68 Average cost of purchased power (in cents per net KWH)(c)5.14 5.17 

(a)Excludes KWHs generated from test period energy at Plant Vogtle Units 3 and 4 prior to each unit's respective in-service date. The related fuel costs were charged to CWIP in accordance with FERC guidance. See Note 2 to the financial statements under "Georgia Power – Nuclear Construction" for additional information on Plant Vogtle Units 3 and 4.

(b)Excludes $55 million of credits recorded to nuclear