Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 113

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 113
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 gains associated with price stability products for retail customers on variable demand-driven pricing tariffs, both at Georgia Power, partially offset by a decrease of $15 million in pole attachment revenues at Alabama Power and Georgia Power.

For year-to-date 2025, other electric revenues were $724 million compared to $631 million for the corresponding period in 2024. The increase was primarily due to increases of $30 million in solar application fees at Georgia Power, $24 million in regulated energy services revenues at Alabama Power and Georgia Power, $20 million in regulated outdoor lighting sales at Georgia Power, and $16 million in realized gains associated with price stability products for retail customers on variable demand-driven pricing tariffs at Georgia Power, partially offset by a decrease of $25 million in pole attachment revenues at Alabama Power and Georgia Power.

Natural Gas Revenues

In the third quarter 2025, natural gas revenues were $734 million compared to $682 million for the corresponding period in 2024. For year-to-date 2025, natural gas revenues were $3.6 billion compared to $3.2 billion for the corresponding period in 2024. Details of the changes in natural gas revenues were as follows:

Third Quarter 2025 vs.Third Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)Rates$27 3.9 %$98 3.0 %Gas costs and other cost recovery23 3.4 189 5.9 Gas marketing services5 0.7 40 1.2 Other(3)(0.4)5 0.2 Natural gas revenues$52 7.6 %$332 10.3 %

Changes in rates resulted in an increase in revenues in the third quarter and year-to-date 2025 compared to the corresponding periods in 2024 primarily due to base rate increases at Atlanta Gas Light and Virginia Natural Gas. See Note 2 to the financial statements under "Southern Company Gas – Rate Proceedings" in Item 8 of the Form 10-K for additional information.

Revenues from gas costs and other cost recovery increased in the third quarter and year-to-date 2025 compared to the corresponding periods in 2024 primarily due to higher natural gas prices and gas volumes. Natural gas distribution rates include provisions to adjust billings for fluctuations in natural gas costs. Therefore, gas costs recovered through natural gas revenues generally equal the amount exp