Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1543

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1543
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(in millions)Fair value increases (decreases)2024$229 $143 $86 2023281 157 124 2022(360)(171)(189)Unrealized gains (losses)At December 31, 2024$113 $64 $49 At December 31, 2023241 119 122 At December 31, 2022(391)(204)(187)The investment securities held in the Funds continue to be managed with a long-term focus. Accordingly, all purchases and sales within the Funds are presented separately in the statements of cash flows as investing cash flows, consistent with the nature of the securities and purpose for which the securities were acquired.For Alabama Power, approximately $12 million and $13 million at December 31, 2024 and 2023, respectively, previously recorded in internal reserves is being transferred into the Funds through 2040 as approved by the Alabama PSC.The NRC's minimum external funding requirements are based on a generic estimate of the cost to decommission only the radioactive portions of a nuclear unit based on the size and type of reactor. Alabama Power and Georgia Power have filed plans 

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

with the NRC designed to ensure that, over time, the deposits and earnings of the Funds will provide the minimum funding amounts prescribed by the NRC.At December 31, 2024 and 2023, the accumulated provisions for the external decommissioning trust funds were as follows:20242023(in millions)Alabama PowerPlant Farley$1,385 $1,259 Georgia PowerPlant Hatch$735 $705 Plant Vogtle Units 1 and 2460 434 Plant Vogtle Units 3 and 441 24 Total$1,236 $1,163 Site study cost is the estimate to decommission a specific facility as of the site study year. The decommissioning cost estimates are based on removal of the plant from service and prompt dismantlement. The actual decommissioning costs may vary from these estimates because of changes in the assumed date of decommissioning, changes in NRC requirements, or changes in the assumptions used in making these estimates. The estimated costs of decommissioning at December 31, 2024 based on the most current studies were as follows:Alabama PowerGeorgia PowerPlantFarleyPlant Hatch