Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 121

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 121
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 in millions)(% change)(change in millions)(% change)Rates and pricing$123 4.7 %$390 8.2 %Sales growth65 2.5 64 1.4 Weather(57)(2.2)10 0.2 Fuel cost recovery37 1.4 179 3.8 Retail revenues$168 6.4 %$643 13.6 %

Changes in rates and pricing resulted in an increase in revenues in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024 primarily due to the inclusion of Plant Vogtle Unit 4 in retail rates net of elimination of the NCCR tariff, base tariff increases and increased ECCR tariff revenues in accordance with the 2022 ARP, and higher contributions from commercial and industrial customers with variable demand-driven pricing. See Note 2 to the financial statements under "Georgia Power" in Item 8 of the Form 10-K for additional information.

Changes in sales resulted in an increase in revenues in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024. Weather-adjusted residential KWH sales increased 2.1% in the second quarter 2025 primarily due to customer growth and increased customer usage. Weather-adjusted residential KWH sales increased 0.4% for year-to-date 2025 primarily due to customer growth, partially offset by decreased customer usage. Weather-adjusted commercial KWH sales increased 4.4% and 2.9% in the second quarter and year-to-date 2025, respectively, primarily due to increased customer usage, primarily driven by data centers. Weather-adjusted industrial KWH sales increased 3.5% in the second quarter 2025 primarily due to increases in the transportation and paper sectors, partially offset by a decrease in the pipeline sector. Weather-adjusted industrial KWH sales increased 1.8% for year-to-date 2025 primarily due to increases in the transportation and paper sectors, partially offset by decreases in the pipeline and textiles sectors.

Fuel revenues and costs are allocated between retail and wholesale jurisdictions. Retail fuel cost recovery revenues increased in the second quarter and year-to-date 2025 when compared to the corresponding periods in 2024 due to higher recoverable fuel costs. Electric rates include provisions to adjust billings for fluctuations in fuel costs, including the energy component of purchased power costs. Under these fuel cost recovery