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Wednesday, August 02, 2017 2:52:36 PM
Southern Co. (SO +2.3%) after posting better than expected adjusted Q2 earnings and revenues; on an unadjusted basis, SO recorded a $1.38B loss, almost entirely due to a $2.8B pre-tax charge the company took related to the ultimately unsuccessful attempt to build the Kemper clean coal power plant in Mississippi.
Additionally, SO discloses it will cost at least $25.2B to complete the Vogtle nuclear power plant in Georgia, raising new questions about whether the sole remaining nuclear facility under construction in the U.S. will get built.
The report of the escalating expenses, which have nearly doubled over the past nine years, comes two days after SCANA Corp. abandoned a similar project in South Carolina that also followed years of delays and rising costs.
Recent SO News
- Southern Company (NYSE: SO) Chairman, President and CEO Chris Womack Interviewed by Advisor Access • GlobeNewswire Inc. • 08/20/2024 12:35:00 PM
- Georgia Natural Gas' Greener Life® Program Reaches New Milestones with 500 Million Pounds of Carbon Emissions Offset, New Certified Low-Emissions Gas Offering • PR Newswire (US) • 08/19/2024 02:38:00 PM
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- Georgia Power and Georgia 811 highlight digging safety with new PSA on Georgia 811 Day • PR Newswire (US) • 08/09/2024 03:02:00 PM
- Georgia Power highlights diverse career opportunities in power plants during Generation Appreciation Month • PR Newswire (US) • 08/08/2024 03:14:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 08:00:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/06/2024 08:00:03 PM
- Ericsson, NRTC, Southern Linc and Anterix ink landmark agreements to deliver connectivity for rural electric cooperatives across the U.S. • PR Newswire (US) • 08/06/2024 12:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/06/2024 12:46:48 AM
- Georgia Power mobilizes restoration teams as Hurricane Debby begins to impact Georgia • PR Newswire (US) • 08/05/2024 05:35:00 PM
- Southern Company reports second-quarter 2024 earnings • PR Newswire (US) • 08/01/2024 11:30:00 AM
- Rockefeller Foundation's Economic Opportunity Coalition Announces New Chair & 3 Additional Fortune 500 Companies • PR Newswire (US) • 07/19/2024 03:16:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/16/2024 08:56:05 PM
- Northern Illinois Community Initiatives Delivers $700,000 in Impact Grants to Bolster Local Economies • PR Newswire (US) • 07/15/2024 04:00:00 PM
- Southern Company announces quarterly dividend • PR Newswire (US) • 07/15/2024 03:38:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/08/2024 07:00:03 PM
- Southern Company second-quarter earnings to be released August 1 • PR Newswire (US) • 07/02/2024 12:00:00 PM
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- Virginia Natural Gas fuels workforce development with $620,000 investment • PR Newswire (US) • 06/10/2024 09:56:00 PM
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