Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 3647

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 3647
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 life of the asset. Certain of Southern Power's generation assets related to natural gas-fired facilities are depreciated on a units-of-production basis, using hours or starts, to better match outage and maintenance costs to the usage of, and 

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

revenues from, these assets. The primary assets in Southern Power's property, plant, and equipment are generating facilities, which generally have estimated useful lives as follows:Southern Power Generating FacilityUseful lifeNatural gasUp to 50 yearsSolarUp to 35 yearsWindUp to 35 yearsWhen Southern Power's depreciable property, plant, and equipment is retired, or otherwise disposed of in the normal course of business, the applicable cost and accumulated depreciation is removed and a gain or loss is recognized in the statements of income. Southern Power reviews its estimated useful lives and salvage values on an ongoing basis. The results of these reviews could result in changes which could have a material impact on Southern Power's net income.Joint Ownership AgreementsAt December 31, 2024, the Registrants' percentage ownership and investment (exclusive of nuclear fuel) in jointly-owned facilities in commercial operation were as follows:Facility (Type)PercentOwnershipPlant in ServiceAccumulatedDepreciationCWIP(in millions)Alabama PowerPlant Greene County (natural gas) Units 1 and 260.0 %(a)$192 $140 $1 Plant Miller (coal) Units 1 and 291.8 (b)2,180 829 7 Georgia PowerPlant Hatch (nuclear) Units 1 and 250.1 %(c)$1,464 $604 $66 Plant Vogtle (nuclear) Units 1 and 245.7 (c)3,621 2,342 162 Plant Vogtle (nuclear) Units 3 and 445.7 (c)7,953 119 45 Plant Scherer (coal) Units 1 and 28.4 (c)289 140 4 Plant Scherer (coal) Unit 375.0 (c)1,316 720 22 Rocky Mountain (pumped storage)25.4 (d)182 160 6 Mississippi PowerPlant Greene County (natural gas) Units 1 and 240.0 %(a)$125 $88 $2 Plant