Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 213

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 213
---
3. Georgia Power proposed no fuel cost recovery rate change and is required to monitor and report to the Georgia PSC monthly as long as the under recovered fuel balance is above $200 million. On July 15, 2025, Georgia Power filed its most recent IFR plan and notification which also proposed no fuel cost recovery rate change. Georgia Power is scheduled to file its next fuel case no later than February 28, 2026. See Note 2 to the financial statements under "Georgia Power – Fuel Cost Recovery" in Item 8 of the Form 10-K for additional information.

Nuclear ConstructionGeorgia Power placed Plant Vogtle Units 3 and 4 in service on July 31, 2023 and April 29, 2024, respectively. As of June 30, 2025, site demobilization efforts were largely complete. Georgia Power is finalizing remaining contractor obligations. Georgia Power's net capital costs incurred through June 30, 2025 in connection with Plant Vogtle Units 3 and 4, and its approximate proportionate share of remaining capital costs to be incurred after June 30, 2025, is as follows:(in millions)Total project capital cost forecast(a)(b)$10,732 Net investment at June 30, 2025(b)(10,690)Remaining estimate to complete$42 (a)Includes approximately $1.2 billion of costs that are not shared with the other Vogtle Owners. Excludes financing costs capitalized through AFUDC of approximately $440 million accrued through Unit 4's in-service date.(b)Net of $1.7 billion received from Toshiba under the Guarantee Settlement Agreement and approximately $188 million in related customer refunds.Other ConstructionAt June 30, 2025, Georgia Power had recorded approximately $1.3 billion of combined capital costs, excluding AFUDC, for the projects reflected in the table below. The total certified amounts related to these projects are 

49

    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

approximately $2.8 billion, excluding AFUDC. The ultimate outcome of these matters cannot be determined at this time.ProjectResourceApproximate Nameplate Capacity(MW)Projected CODRegulatory ApprovalProjects Under Construction at June 30, 2025McGrau FordBattery energy storage265Fourth quarter 20262022 IRPPlant Yates Units