Southern Company is an electric and natural gas utility and wholesaler with 9 million customers and 41,000 megawatts of generating capacity. Its natural gas subsidiary also provides distribution and wholesale natural gas services. Retail electric power accounts for about 60% of revenue, while natural gas operations account for about 25%. The company is headquartered in Atlanta and provides natural gas to customers in Illinois, Georgia, Virginia and Tennessee, and has operations in Georgia, Alabama. The state and Mississippi have regulated electric utilities. Its largest utility, Georgia Power, accounts for about 40% of its annual revenue. The company also provides digital wireless and fiber optic services. SO’s current fuel mix is 52% natural gas, 17% coal, 16% nuclear energy and 15% renewable energy. It is aiming to achieve net-zero greenhouse gas emissions by 2050, later than some peers. The fuel mix will change once the company adds the last of its new nuclear reactors to its three existing nuclear units at the Vogtel power plant in Georgia. The company faces rising costs and coronavirus-related delays. The reactors are the first nuclear power units built in the United States in the past 30 years. Vogtle 3 will enter service in July 2023, and Vogle 4 is expected to enter service early in the first quarter of 2024. The company also suffered more than $5 billion in cost overruns and damage to its reputation over the now-cancelled Kemper County clean-coal power plant. In 2016, Southern Company Gas acquired AGL Resources’ natural gas infrastructure and liquefied natural gas. Business. SO stock is a component of the S&P 500 Index. The company has a market capitalization of $74 billion.
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