SAN FRANCISCO, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Southern Company (NYSE: SO) is an energy company providing electric and gas service to nine million customers across the United States through its subsidiaries. The company is focused on making, moving and selling reliable, low-cost energy solutions from traditional and renewable power sources, as well as providing superior customer service. Recognizing the rapid evolution of the energy sector, including new technologies, customer preferences, and environmental, social, and governance initiatives, Southern Company is working to advance its solar, wind, and nuclear holdings, develop microgrids and significantly reduce its system’s greenhouse gas emissions.
- Over 9 million customers across seven utility subsidiaries
- 300 consecutive quarterly dividends equal to or greater than those in the previous quarter (for 75 years)
- Developing microgrids and deploying energy storage systems throughout the U.S.
- Subsidiary Southern Power provides wholesale solar, wind, fuel cell and natural gas generation in 14 states
- Subsidiary PowerSecure is the nation’s leading distributed energy innovation company
Advisor Access spoke with Southern Company’s chairman, president and CEO, Tom Fanning, about the company’s business model, culture and plans for future growth.
Advisor Access: Let’s start with the basics. Please describe Southern Company’s core business and strategy.
Tom Fanning: Southern Company is a leading U.S. utility holding company serving 9 million customers through our various subsidiaries. We own and operate seven state-regulated electric and gas companies spanning six states and a competitive generation company that serves wholesale customers throughout the country…
AA: A tagline for the company is “building the future of energy.” What does this mean for Southern Company and why is it important?
TF: For more than five decades, Southern Company’s world class research and development organization has remained on the forefront of innovation…
AA: Southern Company's Vogtle Units 3 and 4 will be the first new nuclear units built in the United States in more than three decades. Could you describe why this asset will be an important generation asset for customers for decades to come?
TF: We are in the final innings of construction and start-up at Plant Vogtle Units 3 and 4. When completed, these units will provide a clean, safe, reliable and cost-effective source of electricity that will provide stable prices and improve Georgia’s communities for generations to come.
AA: Southern Company has a very robust capital investment plan over the next several years. Could you talk a little bit about what you are investing in?
TF: Southern Company’s $41 billion capital investment plan supports our long-term 5% to 7% earnings per share growth objective1 and is primarily composed of regulated investment, with over 95% of investments being made through our seven state-regulated electric and gas subsidiaries…
AA: Southern Company has paid a remarkable 300 consecutive quarterly dividends that have been equal to or greater than the previous quarter. Can you talk a bit about why the dividend is so important to Southern Company?
TF: This year represents our 21st consecutive annual dividend increase, and for 75 years—dating back to 1948—Southern Company has paid a dividend that was equal to or greater than that of the previous year. We have never decreased our dividend. This is a record that we are very proud of…
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Click Here to Read the Complete Answers to these Questions and the Entire In-Depth Article Online
AA: The energy mix of your portfolio has evolved dramatically over the last decade. Can you describe what has changed and what you expect to occur over the next decade?
TF: Our generation portfolio has seen a drastic transformation over the past decade as our fleet has transitioned from coal to natural gas and renewable generation…
AA: Southern Company’s subsidiaries consistently rank among the top of the industry with regards to customer satisfaction. Georgia Power, Southern Company’s largest electricity subsidiary, was just ranked #1 for business satisfaction in its segment by J.D. Power. Would you tell us about the company’s emphasis on customer satisfaction?
TF: Our pledge to put the customer at the center of everything we do is the key to our success…
AA: Is there anything else you’d like investors to know about Southern Company?
TF: The energy sector is rapidly evolving, driven by innovation, technology advancements, customer preferences, resiliency efforts and environmental, social, and governance initiatives. With evolution comes tremendous opportunity, and Southern Company, with our customer-centric business model, is well poised to provide continued value to our customers and communities in this changing landscape…
AA: Thank you, Tom.
DISCLOSURES
The material, information and facts discussed in this report are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. This is not an offer or solicitation of the securities discussed. Advisor-Access LLC and/or its employees, contractors and owners, may purchase or sell the securities mentioned in this report from time to time. Any opinions or estimates in this report are subject to change without notice. This report contains forward-looking statements that can be identified by the use of words such as “expect,” “intend,” “potential.” Forward-looking statements are predictions based on current expectations and assumptions regarding future events and are not guarantees or assurances of any outcomes, results, performance or achievements. You are cautioned not to place undue reliance upon these statements. These forward-looking statements are subject to a number of estimates and assumptions, and known and unknown risks, uncertainties and other factors. Southern Company actual results may vary materially from those discussed in the forward-looking statements as a result of factors and uncertainties disclosed in Southern Company’s reports filed with the Securities and Exchange Commission, which should be reviewed together with these forward-looking statements. The securities discussed may involve a high degree of risk and may not be suitable for all investors. Southern Company has paid Advisor Access a fee to distribute this press release. Southern Company had final approval of the content and is wholly responsible for the validity of the statements and opinions.
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