Southern Co & Georgia Power File 8-K, Confirming Unchanged Info & Debt

TL;DR

**Southern Co and Georgia Power filed a routine 8-K, confirming no changes to contact info and listing various junior subordinated notes.**

AI Summary

On February 1, 2024, The Southern Company and its subsidiary, Georgia Power Company, filed an 8-K report to update their corporate information, specifically confirming their addresses and telephone numbers remain unchanged. This filing also lists various junior subordinated notes, such as Southern Company's Series 2017B 5.25% notes due 2077 and Georgia Power's Series 2017A 5.00% notes due 2077. This matters to investors because it confirms routine corporate compliance and provides transparency regarding their outstanding debt instruments, which can impact future financial flexibility and dividend stability.

Why It Matters

This filing confirms routine corporate information and lists specific outstanding junior subordinated notes, providing transparency on the companies' debt structure which is crucial for assessing financial health and risk.

Risk Assessment

Risk Level: low — This 8-K is a routine informational filing and does not indicate any new material risks or changes to the company's operations or financial standing.

Analyst Insight

Investors should note this filing as a routine compliance update, confirming stability in corporate contact details and providing a snapshot of outstanding junior subordinated debt. No immediate action is required based on this specific filing, but it serves as a reference for the companies' capital structure.

Key Numbers

• 2077 — Maturity Year (Maturity year for Southern Company's Series 2017B 5.25% Junior Subordinated Notes and Georgia Power's Series 2017A 5.00% Junior Subordinated Notes)
• 2080 — Maturity Year (Maturity year for Southern Company's Series 2020A 4.95% Junior Subordinated Notes)
• 2060 — Maturity Year (Maturity year for Southern Company's Series 2020C 4.20% Junior Subordinated Notes)
• 2081 — Maturity Year (Maturity year for Southern Company's Series 2021B 1.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes)

Key Players & Entities

• The Southern Company (company) — registrant
• Georgia Power Company (company) — registrant and subsidiary of The Southern Company
• February 1, 2024 (date) — date of earliest event reported and filing date
• 30 Ivan Allen Jr. Boulevard, N.W. Atlanta, Georgia 30308 (address) — business address for The Southern Company
• 241 Ralph McGill Boulevard, N.E. Atlanta, Georgia 30308 (address) — business address for Georgia Power Company
• 5.25% (dollar_amount) — interest rate for Southern Company's Series 2017B Junior Subordinated Notes
• 5.00% (dollar_amount) — interest rate for Georgia Power Company's Series 2017A Junior Subordinated Notes

Forward-Looking Statements

• The Southern Company and Georgia Power Company will continue to maintain their current business addresses and contact information for the foreseeable future. (The Southern Company, Georgia Power Company) — high confidence, target: 2025-02-01
• The listed junior subordinated notes will remain outstanding according to their terms, with no early redemptions or significant changes expected in the near term. (Southern Company's Series 2017B 5.25% Junior Subordinated Notes Due 2077, Georgia Power Company's Series 2017A 5.00% Junior Subordinated Notes Due 2077, etc.) — medium confidence, target: 2025-02-01

FAQ

Key Financial Figures

• $5 — outhern Company Common Stock, par value $5 per share SO New York Stock Exchange T
• $15 million — nt owner cost sharing impacts) of up to $15 million per month, which would be charged to in
• $30 million — ve impacts to earnings of approximately $30 million per month until the month following the

Filing Documents

• so-20240201.htm (8-K) — 46KB
• 0000092122-24-000003.txt ( ) — 260KB
• so-20240201.xsd (EX-101.SCH) — 4KB
• so-20240201_def.xml (EX-101.DEF) — 19KB
• so-20240201_lab.xml (EX-101.LAB) — 40KB
• so-20240201_pre.xml (EX-101.PRE) — 20KB
• so-20240201_htm.xml (XML) — 9KB

01 Other Events

Item 8.01 Other Events. On February 1, 2024, Georgia Power Company ("Georgia Power") announced that during the start-up and pre-operational testing for Plant Vogtle Unit 4, Southern Nuclear Operating Company, Inc. ("Southern Nuclear") identified, and has remediated, vibrations associated with certain piping within the cooling system. The vibrations and methods of remediation were similar in nature to those experienced during pre-operational testing for Plant Vogtle Unit 3 and certain other AP1000 nuclear units. Considering the remaining pre-operational testing, Georgia Power now projects that the Unit 4 in-service date will occur during the second quarter 2024. This schedule extension is not expected to affect the total project capital cost forecast; however, any extension of the in-service date beyond the second quarter 2024 is estimated to result in additional base capital costs for Georgia Power (including joint owner cost sharing impacts) of up to $15 million per month, which would be charged to income, as well as any additional related construction, support resources, or testing costs. In addition, if commercial operation for Unit 4 is not achieved by March 31, 2024, Georgia Power's return on equity used to determine its Nuclear Construction Cost Recovery tariff and calculate allowance for funds used during construction will be reduced to zero, which will result in estimated negative impacts to earnings of approximately $30 million per month until the month following the date commercial operation for Unit 4 is achieved. With the completion of the previously-announced replacement of one of the four reactor coolant pumps and the completion of the remediation for the vibration issues discussed above, the projected schedule for Unit 4 significantly depends on the progression of start-up and pre-operational testing, which may be impacted by equipment or other operational failures. As Unit 4 progresses further through testing, ongoing and potential future challeng

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 1, 2024 THE SOUTHERN COMPANY GEORGIA POWER COMPANY By /s/Melissa K. Caen Melissa K. Caen Assistant Secretary 4

View Full Filing

View this 8-K filing on SEC EDGAR