- Southern Company Q2 2014 revenue was up 5.2% over Q2 2013 on a more than doubling of Q2 2013’s $297 million in earnings to $611 million in Q2 2014, the result of an electricity sales growth that is expected to continue.
- Construction is progressing at the 2,400 megawatt Units 3 and 4 of Southern’s Plant Vogtle, subsidiary Mississippi Power is making good progress at the Kemper County Energy Facility’s 582 megawatt integrated gasification combined cycle Plant Ratcliffe, and Southern just completed acquisition of New Mexico’s biggest solar installation, the 50 megawatt Macho Springs Solar Facility, its seventh solar deal in partnership with Turner Renewable Energy, bringing their co-holdings to over 290 megawatts.
- Southern’s $6.22 billion in 12-month cash flow, its 13 consecutive months of industrial sector load growth, and the 90% of its key customers who believe their 2H 2014 sales will match or better their 1H 2014 sales all indicate a broader economic recovery in the Southeast that should further improve the utility’s financial health.
Exports from Alabama and Georgia expanded by 4.1% from Q2 2013 to Q2 2014, roughly double the overall U.S. rate.
New housing activity in the Southeast for 1H 2014 jumped 17% over the 1H 2013 activity.