Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 43

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 43
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8 through 10Combustion turbine1,326Fourth quarter 2026 through third quarter 20272023 IRP UpdateVarious facilitiesBattery energy storage500Second quarter 2026 through fourth quarter 20262023 IRP Update

Mississippi PowerPerformance Evaluation PlanOn June 17, 2025, the Mississippi PSC approved Mississippi Power's annual retail PEP filing for 2025, resulting in an annual increase in revenues of approximately 4.0%, or $41 million, primarily due to increases in investment and depreciation. In accordance with the PEP rate schedule, an increase of 2.0% of total retail revenues, or approximately $22 million, became effective with the first billing cycle of April 2025, and the remaining approximately $19 million became effective with the first billing cycle of July 2025.Integrated Resource PlansOn July 8, 2025, Mississippi Power extended 50 MWs of an existing 750-MW affiliate PPA with Georgia Power for an additional year through December 31, 2029, subject to approval by the Georgia PSC. The ultimate outcome of this matter cannot be determined at this time. See "Georgia Power – Integrated Resource Plans" herein for additional information.Environmental Compliance Overview PlanOn April 1, 2025, the Mississippi PSC approved Mississippi Power's annual ECO Plan filing for 2025, resulting in a $6 million annual increase in revenues effective with the first billing cycle of May 2025.Ad Valorem Tax AdjustmentOn June 30, 2025, Mississippi Power submitted its annual ad valorem tax adjustment filing for 2025 to the Mississippi PSC, which requested a $7 million annual increase in revenues. The ultimate outcome of this matter cannot be determined at this time.System Restoration RiderOn June 17, 2025, the Mississippi PSC approved Mississippi Power's annual SRR filing for 2025, with no change in retail rates. Mississippi Power's minimum annual SRR accrual increased from $12.6 million to $13.5 million and the target property damage reserve balance increased from $75 million to $125 million. Mississippi Power will continue to record a minimum annual accrual until a target property damage reserve balance of $125 million is met.Reliability Reserve Accounting OrderOn March 17, 2025, Mississippi Power notified the Mississippi PSC of its intent to use a portion of its $57 million reliability reserve balance during 2025