Georgia Power Q1 net income rises $30M to $1.36B on sales growth; Alabama rate freeze enacted

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~2 min read

Key Changes

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  Alabama enacted legislation freezing retail electric base rates through January 1, 2029 for PSC-regulated utilities, constraining Alabama Power's ability to raise base rates for approximately $1 million three years and potentially limiting revenue growth from rate increases.

  MD&A: Alabama rate freeze legislation verify on EDGAR →
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  Southern Power committed $660-725M to turbine upgrades at Franklin and Wansley natural gas facilities, adding up to 400 MW of incremental capacity with commercial operations expected between Q2 2029 and Q1 2031.

  MD&A: Southern Power turbine upgrade projects verify on EDGAR →
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  Weather-adjusted commercial KWH sales accelerated to 4.6% growth in Q1 2026 from 0.5% in Q1 2025, driven by increased customer usage largely from data centers at Georgia Power.

  MD&A: Commercial KWH sales growth verify on EDGAR →