Southern Company
12/10/2025 | Press release | Distributed by Public on 12/10/2025 06:40
Material Event (Form 8-K)
Item 8.01 Other Events.
On December 9, 2025, Georgia Power Company ("Georgia Power" or the "Company") and the Georgia Public Service Commission ("PSC") Public Interest Advocacy Staff reached a settlement agreement (the "Settlement Agreement") that, if approved by the Georgia PSC, would resolve the Company's Application for the Certification of Capacity from the 2029-2031 All-Source Request for Proposals and Application for the Certification of Supplemental Resources for 2028-2031 Capacity (collectively, the "All-Source Certification Proceeding").
Under the terms of the Settlement Agreement, all 9,885 megawatts of requested resources in the All-Source Certification Proceeding would be approved and certified at their respective individual project cost. Included in these resources are the Company-owned projects totaling approximately $16.3 billion of projected capital investment, excluding allowance for funds used during construction, of which approximately $14 billion is expected to be incurred in 2026 through 2029. The Company-owned projects would require construction monitoring by the Georgia PSC.
The Company would agree to file its next base rate case in a manner that will ensure the incremental revenue from large load customers has downward pressure, on a levelized basis, of at least $556 million per year, which is equivalent to $8.50 per month (or approximately $102 per year) to the typical residential customer using an average of 1,000 kilowatt-hours per month, for the years 2029, 2030 and 2031.
The Settlement Agreement must be approved by the Georgia PSC. Accordingly, the terms of the Settlement Agreement are subject to change and the terms of any final agreement approved by the Georgia PSC may differ materially from the terms of the Settlement Agreement. The Georgia PSC is scheduled to vote on December 19, 2025 to resolve all matters in the All-Source Certification Proceeding, including the Settlement Agreement. The ultimate outcome of this matter cannot be determined at this time.
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