v3.26.1
Regulatory Matters (Tables)
6 Months Ended
Jun. 30, 2026
Regulated Operations [Abstract]  
Schedule of Cost Recovery Clauses
The recovery balances for retail fuel and storm/property damage for the traditional electric operating companies and natural gas cost for Southern Company Gas at June 30, 2026 and December 31, 2025 were as follows:
Recovery/Regulatory ClauseBalance Sheet LocationAt June 30, 2026At December 31, 2025
(in millions)
Alabama Power
Rate ECR
Other regulatory assets, current
$7 $— 
Other regulatory assets, deferred212 146 
NDROther regulatory liabilities, deferred29 60 
Georgia Power
Fuel cost recovery
Receivables – under recovered retail fuel clause revenues
$161 $310 
Deferred under recovered retail fuel clause revenues151 212 
Storm damage recoveryOther regulatory assets, current187 31 
Other regulatory assets, deferred784 880 
Mississippi Power
Fuel cost recovery(*)
Receivables – under recovered retail fuel clause revenues$55 $— 
Deferred under recovered retail fuel clause revenues— 40 
Property damage reserveOther regulatory liabilities, deferred56 57 
Southern Company Gas
Natural gas cost recoveryNatural gas cost over recovery$191 $158 
(*)Mississippi Power also has wholesale MRA and Market Based (MB) fuel cost recovery factors. At June 30, 2026 and December 31, 2025, wholesale MRA fuel cost under recovery was $10 million and $6 million, respectively, and was included in customer accounts receivable, net on Mississippi Power's balance sheets. The wholesale MB fuel cost recovery was immaterial for both periods presented.
Schedule of Construction Projects
Resource/Project
Approximate Nameplate Capacity
(MW)
Actual/Projected COD
Projects Under Construction at June 30, 2026
Battery Energy Storage
McGrau Ford Phase 2
265
Third quarter 2026
McGrau Ford Phase 1265Fourth quarter 2026
Hammond Phase 158
Fourth quarter 2026
Hammond Phase 2193Fourth quarter 2030
Twiggs County200Fourth quarter 2027
Wadley260Fourth quarter 2027
Bowen Phase 1
250Fourth quarter 2028
Bowen Phase 2
250Fourth quarter 2029
South Hall250Fourth quarter 2028
Wansley
500Fourth quarter 2028
Yates Phase 1
320Fourth quarter 2028
Yates Phase 2
250Fourth quarter 2028
Thomson500Fourth quarter 2029
McIntosh
250Fourth quarter 2030
Solar with Battery Energy Storage
Laurens County 200Fourth quarter 2028
Plant Mitchell 150Fourth quarter 2028
Combined Cycle
Plant Bowen Unit 7741Fourth quarter 2029
Plant Bowen Unit 8741Second quarter 2030
Plant Wansley Unit 10727Fourth quarter 2029
Plant Wansley Unit 11727Second quarter 2030
Plant McIntosh Unit 12757Fourth quarter 2030
Combustion Turbine
Plant Yates Unit 8(*)
442Fourth quarter 2026
Plant Yates Unit 9(*)
442Second quarter 2027
Plant Yates Unit 10(*)
442Third quarter 2027
Projects Completed During the Six Months Ended June 30, 2026
Battery Energy Storage
Robins
128March 2026
Moody50April 2026
(*)Pursuant to the 2023 IRP Update, cost recovery over the certified amount is limited.