Company: SOJE
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000092122-25-000084
Chunk: 145

Company: SOUTHERN CO
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 145
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 2024(in millions)PPA capacity revenues $148 $147 $394 $390 PPA energy revenues 397 373 1,114 985 Total PPA revenues545 520 1,508 1,375 Non-PPA revenues 65 71 201 191 Other revenues3 9 17 31 Total operating revenues$613 $600 $1,726 $1,597 

In the third quarter 2025, total operating revenues were $613 million, reflecting a $13 million, or 2.2%, increase from the corresponding period in 2024. The change in operating revenues was primarily due to the following:

•PPA energy revenues increased $24 million, or 6.4%, due to an increase of $18 million related to the volume of KWHs sold under natural gas PPAs and an increase of $6 million driven by fuel and purchased power prices.

•Non-PPA revenues decreased $6 million, or 8.5%, due to a decrease of of $24 million related to the volume of KWHs sold through short-term sales, largely offset by an increase of $18 million driven by the market price of energy.

For year-to-date 2025, total operating revenues were $1.7 billion, reflecting a $129 million, or 8.1%, increase from the corresponding period in 2024. The change in operating revenues was primarily due to the following:

•PPA energy revenues increased $129 million, or 13.1%, primarily due to an increase of $72 million related to the volume of KWHs sold under natural gas PPAs and an increase of $59 million largely driven by fuel and purchased power prices.

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

•Non-PPA revenues increased $10 million, or 5.2%, due to an increase of $54 million driven by the market price of energy, largely offset by a decrease of $44 million related to the volume of KWHs sold through short-term sales.

•Other revenues decreased $14 million, or 45.2%, due to a $22 million decrease associated with transmission revenues, partially offset by an $8 million increase in receipts associated with liquidated damages related to generation facility production guarantees, warranty settlements,