Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 225

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 225
---
8 of the Form 10-K for additional information relating to regulatory matters.The fuel and natural gas cost recovery balances for the traditional electric operating companies and Southern Company Gas, respectively, at September 30, 2025 and December 31, 2024 were as follows:Regulatory ClauseBalance Sheet Line ItemAt September 30, 2025At December 31, 2024(in millions)Alabama PowerRate ECROther regulatory assets, current$14 $— Other regulatory assets, deferred69 — Other regulatory liabilities, current— 29 Georgia Power Fuel Cost RecoveryReceivables – under recovered retail fuel clause revenues$487 $713 Deferred under recovered retail fuel clause revenues197 453 Mississippi PowerFuel Cost Recovery(*)Receivables – customer accounts, net$30 $— Deferred under recovered retail fuel clause revenues— 32 Over recovered retail fuel clause revenues— 32 Southern Company GasNatural Gas Cost RecoveryNatural gas cost over recovery$163 $193 (*)Mississippi Power also has wholesale MRA and Market Based (MB) fuel cost recovery factors. At September 30, 2025 and December 31, 2024, wholesale MRA fuel cost over recovery was immaterial and $19 million, respectively, and was included in other current liabilities on Mississippi Power's balance sheets. The wholesale MB fuel cost recovery was immaterial for both periods presented.

Alabama PowerPetition for Certificate of Convenience and NecessityOn August 13, 2025, the Alabama PSC approved Alabama Power's petition for a certificate of convenience and necessity authorizing Alabama Power to complete the acquisition of Tenaska Alabama Partners, L.P., which had been approved by the FERC on June 6, 2025. The transaction closed on September 30, 2025. Tenaska Alabama Partners, L.P. had owned and operated the Lindsay Hill Generating Station, an approximately 855-MW combined cycle generation facility in Autauga County, Alabama. Alabama Power expects to recover all approved costs associated with the acquisition through existing rate mechanisms as outlined in Note 2 to the financial statements under "Alabama Power – Petition for Certificate of Convenience and Necessity" in Item 8 of the Form 10-K. See Note (K) under "Alabama Power" for additional information.Jurisdictional Separation Study OrderOn June 5, 2025, the Alabama PSC approved an order authorizing Alabama Power to implement changes related to the Jurisdiction