Company: SOJE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000092122-25-000076
Chunk: 363

Company: SOUTHERN CO
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 363
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 compared to $73 million for the corresponding period in 2024. The increase was primarily due to $12 million in higher HLBV loss allocations to Southern Power's tax equity partners and $7 million in lower income allocations to Southern Power's equity partners.

Alabama Power

Net Income

Second Quarter 2025 vs. Second Quarter 2024Year-to-Date 2025 vs. Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)$123.3$537.5

Alabama Power's net income in the second quarter 2025 was $381 million compared to $369 million for the corresponding period in 2024. The increase was primarily due to higher retail electric revenues resulting from changes in rates and pricing and increased customer usage, partially offset by weather impacts and an increase in non-fuel operations and maintenance expenses.

For year-to-date 2025, net income was $755 million compared to $702 million for the corresponding period in 2024. The increase was primarily due to higher retail electric revenues resulting from changes in rates and pricing, as well as an increase in other revenues, partially offset by increases in non-fuel operations and maintenance expenses and depreciation and amortization.

Retail Revenues

In the second quarter 2025, retail revenues were $1.7 billion compared to $1.6 billion for the corresponding period in 2024. For year-to-date 2025, retail revenues were $3.4 billion compared to $3.2 billion for the corresponding period in 2024. Details of the changes in retail revenues were as follows:

Second Quarter 2025 vs.Second Quarter 2024Year-to-Date 2025 vs.Year-to-Date 2024(change in millions)(% change)(change in millions)(% change)Rates and pricing$68 4.1 %$159 4.9 %Sales growth23 1.4 — — Weather(40)(2.5)5 0.2 Fuel and other cost recovery20 1.2 64 2.0 Retail revenues$71 4.2 %$228 7.1 %

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

Changes in rates and pricing resulted in increases in revenues