Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 272

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 272
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CUSSION AND ANALYSIS OF FINANCIAL CONDITIONAND RESULTS OF OPERATIONS (Continued)

Other Revenues

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)$981.8

In the first quarter 2025, other revenues were $20 million compared to $11 million for the corresponding period in 2024. The increase was primarily due to customer charges related to contributions in aid of construction included in rates.

Fuel and Purchased Power Expenses

First Quarter 2025 vs. First Quarter 2024(change in millions)(% change)Fuel$50 47.6 %Purchased power5 83.3 Total fuel and purchased power expenses$55 

In the first quarter 2025, total fuel and purchased power expenses were $166 million compared to $111 million for the corresponding period in 2024. The increase was due to a $37 million increase related to the average cost of fuel and purchased power and an $18 million increase related to the volume of KWHs generated and purchased.

Fuel and purchased power energy transactions do not have a significant impact on earnings since energy expenses are generally offset by energy revenues through Mississippi Power's fuel cost recovery clause.

Energy purchases 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. These purchases are made in accordance with the IIC or other contractual agreements, as approved by the FERC.

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

First Quarter 2025First Quarter 2024Total generation (in millions of KWHs)4,5383,952Total purchased power (in millions of KWHs)188171Sources of generation (percent) –Gas9191Coal99Cost of fuel, generated (in cents per net KWH) –Gas3.502.69Coal4.944.70Average cost of fuel, generated (in cents per net KWH)3.652.88Average cost of purchased power (in cents per net KWH)5.783.64

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

Other Operations and Maintenance Expenses

First Quarter 2025