Company: SOJE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000092122-25-000042
Chunk: 154

Company: SOUTHERN CO
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 154
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10-K for additional information.On April 1, 2025, the Mississippi PSC approved a stipulation between Mississippi Power and the Mississippi Public Utilities Staff for an $8 million increase in total annual depreciation effective January 1, 2025.

(B) REGULATORY MATTERS

See Note 2 to the financial statements in Item 8 of the Form 10-K for additional information relating to regulatory matters.The fuel and natural gas cost recovery balances for the traditional electric operating companies and Southern Company Gas, respectively, at March 31, 2025 and December 31, 2024 were as follows:Regulatory ClauseBalance Sheet Line ItemMarch 31, 2025December 31, 2024(in millions)Alabama PowerRate ECROther regulatory assets, deferred$18 $— Other regulatory liabilities, current— 29 Georgia Power Fuel Cost RecoveryReceivables – under recovered retail fuel clause revenues$694 $713 Deferred under recovered retail fuel clause revenues389 453 Mississippi PowerFuel Cost Recovery(*)Receivables – customer accounts, net$13 $— Deferred under recovered retail fuel clause revenues— 32 Over recovered retail fuel clause revenues— 32 Southern Company GasNatural Gas Cost RecoveryNatural gas cost over recovery$16 $193 (*)Mississippi Power also has wholesale MRA and Market Based (MB) fuel cost recovery factors. At March 31, 2025 and December 31, 2024, wholesale MRA fuel costs were over recovered $13 million and $19 million, respectively, and were included in other current liabilities on Mississippi Power's balance sheets. The wholesale MB fuel cost recovery was immaterial for both periods presented.

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    Table of Contents                                Index to Financial StatementsNOTES TO THE CONDENSED FINANCIAL STATEMENTS (Continued)(UNAUDITED)

Georgia Power

Nuclear ConstructionGeorgia Power placed Plant Vogtle Units 3 and 4 in service on July 31, 2023 and April 29, 2024, respectively. Georgia Power's net capital costs incurred through March 31, 2025 in connection with Plant Vogtle Units 3 and 4, and its approximate proportionate share of remaining capital costs to be incurred after March 31, 2025, including completion of site demobilization and remaining contractor obligations, is as follows:(in millions)Total project capital cost forecast(a)(b)$10,732 Net