Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 32

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 32
---
 to the Mississippi PSC, indicating no change in retail rates. The filing includes a request to increase the minimum annual SRR accrual from $12.6 million to $13.2 million. The ultimate outcome of this matter cannot be determined at this time.Plant DanielIn November 2024, Mississippi Power entered into an agreement with FP&L to acquire FP&L's 50% ownership interest in Plant Daniel Units 1 and 2. This acquisition will include a payment by FP&L to Mississippi Power of between $35 million and $37 million, which represents an estimate of the incremental cost to Mississippi Power to assume ownership of FP&L's interest, based on the timing of the completion of the transaction. On January 7, 2025, the Mississippi PSC approved Mississippi Power's request for (i) the inclusion of the acquired assets and the associated costs at Plant Daniel in Mississippi Power's retail rate base, upon completion of the transaction, (ii) the establishment of a new regulatory liability account in which all of the proceeds to be paid by FP&L will be recorded, and (iii) Mississippi Power's ability to amortize that regulatory liability by charging certain expenditures against it. On April 21, 2025, the Florida PSC preliminarily approved the transaction. Interested parties may file an objection or protest by May 12, 2025. In the absence of such a filing, the approval will become final and effective upon the issuance of a final order by the Florida PSC. The completion of the transaction is subject to the satisfaction or waiver of certain conditions, including, among other customary closing conditions, a final order from the Florida PSC. The ultimate outcome of this matter cannot be determined at this time.Municipal and Rural Associations TariffOn April 3, 2025, the FERC approved a settlement agreement filed by Mississippi Power and Cooperative Energy in December 2024. The settlement agreement provides for (i) a $1 million increase in annual wholesale base revenues and a refund to customers of approximately $4 million, (ii) a rate escalation of 2.5% on an annual basis in periods subsequent to December 31, 2024 and continuing through the end of the shared service agreement on December 31, 2035, and (iii) a waiver of rights by Mississippi Power and Cooperative Energy to file for any changes in non-fuel rates through the end of the term of the shared service agreement.

Southern Company Gas