Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 404

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 2
Chunk 404
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 increase of $60 million related to credits recorded in the third quarter 2024 resulting from litigation related to nuclear fuel disposal costs.

For year-to-date 2025, total fuel and purchased power expenses were $2.7 billion compared to $2.3 billion for the corresponding period in 2024. The increase was due to a $228 million net increase related to the volume of KWHs generated and purchased, an increase of $145 million related to the average cost of fuel and purchased power, and an increase of $60 million related to credits recorded in the third quarter 2024 resulting from litigation related to nuclear fuel disposal costs.

See Note 3 to the financial statements under "Nuclear Fuel Disposal Costs" in Item 8 of the Form 10-K for additional information.

Fuel and purchased power energy transactions do not have a significant impact on earnings since these fuel expenses are generally offset by fuel revenues through Georgia Power's fuel cost recovery mechanism. See Note 2 to the financial statements under "Georgia Power – Fuel Cost Recovery" in Item 8 of the Form 10-K for additional information.

Energy purchases from non-affiliates will vary depending on the market prices of wholesale energy as compared to the cost of the Southern Company system's generation, demand for energy within the Southern Company system's electric service territory, and the availability of the Southern Company system's generation.

Energy purchases from affiliates will vary depending on the demand and the availability and cost of generating resources at each company within the Southern Company system. These purchases are made in accordance with the IIC or other contractual agreements, all as approved by the FERC. See Note 2 to the financial statements under "Georgia Power – Integrated Resource Plans" in Item 8 of the Form 10-K for information regarding two new PPAs with Southern Power.

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    Table of Contents                                Index to Financial StatementsMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

Details of Georgia Power's generation and purchased power and the related costs were as follows:

Third Quarter 2025Third Quarter 2024Year-to-Date 2025Year-to-Date 2024Total generation (in billions of KWHs)(a)19185050Total purchased power (in billions of KWHs)1092823Sources of generation (percent) —Gas41434043Nuclear(a)33313533Coal24242221Hydro and other2233Cost of fuel, generated (in