Southern Company

What Southern Company does

Southern Company is a publicly traded, rate-regulated utility holding company headquartered in Atlanta, Georgia, that serves approximately 9 million electricity and natural gas customers across the southeastern United States. The company operates through a vertically integrated portfolio of subsidiaries: Alabama Power, Georgia Power, and Mississippi Power for regulated retail electric distribution; Southern Power for wholesale generation; Southern Nuclear for nuclear operations including Plant Vogtle Units 3 and 4, the first newly constructed nuclear units in the U.S. in more than three decades; Southern Company Gas (Atlanta Gas Light, Chattanooga Gas, Nicor Gas, Virginia Natural Gas) for natural gas distribution; PowerSecure for distributed energy infrastructure; and Southern Linc for wireless communications services.

The underlying technology base spans nuclear (Plant Vogtle Units 3 and 4, each capable of powering approximately 500,000 homes and businesses), natural gas, hydroelectric, solar, battery energy storage, and over 1,300 miles of planned new transmission. The $26.54 billion DOE loan, the largest single loan commitment in DOE history, supports approximately 5 GW of new natural gas generation, 6 GW of nuclear uprates, hydropower modernization, battery storage, and transmission expansion through 2033.

Revenue is generated primarily through rate-regulated retail electricity and natural gas subscriptions approved by state public service commissions, supplemented by usage-based wholesale electricity sales to large-load customers. The company's most significant growth vector is contracted capacity agreements with hyperscalers including Google, Meta, Microsoft, and Compass Datacenters, totaling 11 GW with an additional 23-34 GW in the pipeline. Data center power consumption grew 42% year-over-year. The company has maintained 79 consecutive years of dividend payments and 25 consecutive years of dividend increases.

Name

Southern Company

Legal name

Southern Company

Website

https://southerncompany.com

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Southern Company is a public, rate-regulated utility holding company headquartered in Atlanta, Georgia, serving approximately 9 million electricity and natural gas customers across the southeastern United States through Alabama Power, Georgia Power, Mississippi Power, and Southern Company Gas subsidiaries.

Ownership category

akta.pro rank

Product category

Regulated Electric and Gas Utility

NAICS

Natural Gas Distribution (22121), Utilities (22), Electric Power Generation, Transmission and Distribution (2211)

SIC

Natural Gas Distribution (4924), Gas & Other Services Combined (4932), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Local Distribution Company (LDC) Natural Gas Distribution Utilities (TLAGADAA)

akta.pro secondary industries

Municipal & Public Gas Utility Sales (EUAAADAE), Regulated Residential & SMB Retail Supply (Default/Standard Offer) (EUAGABAA), Green Gas / RNG Retail Programs & Claims Marketing (EUAAADAG)

Keywords

• Regulated electric utilities
• Natural gas distribution
• Nuclear power generation
• Renewable energy services
• Utility infrastructure

Headquarters

HQ city

Atlanta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Retail Electric Operations: Rate-regulated retail electricity sales through operating subsidiaries (Alabama Power, Georgia Power, Mississippi Power) to approximately 9 million customers across the Southeast U.S.
2. Gas Utilities: Natural gas distribution through Southern Company Gas subsidiaries including Atlanta Gas Light, Chattanooga Gas, Nicor Gas, and Virginia Natural Gas
3. Wholesale Electricity Sales: Commercial electricity sales to large-load customers including data centers, with 42% year-over-year growth in data center power consumption and contracted capacity exceeding 11 GW

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Southern Company is a rate-regulated utility holding company that generates, transmits, and distributes electricity and natural gas to approximately 9 million customers across the Southeast United States through its operating subsidiaries (Alabama Power, Georgia Power, Mississippi Power, Southern Company Gas, Southern Nuclear, Southern Power, and PowerSecure). Its portfolio includes nuclear, natural gas, hydroelectric, solar, and battery storage generation, with the largest nuclear station in the U.S. at Plant Vogtle Units 3 and 4.

Product overview

Southern Company operates as a vertically integrated regulated utility with a portfolio of subsidiary brands serving approximately 9 million customers across the southeastern United States. The company is organized around core electric utility operations (Alabama Power, Georgia Power, Mississippi Power) and wholesale generation (Southern Power), supported by nuclear operations (Southern Nuclear), natural gas distribution (Southern Company Gas through Atlanta Gas Light, Chattanooga Gas, Nicor Gas, and Virginia Natural Gas), distributed energy infrastructure (PowerSecure), and wireless communications (Southern Linc). The product portfolio centers on regulated electricity generation, transmission, and distribution alongside natural gas distribution services, with supplementary offerings including carbon offset programs and utility-scale energy storage solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Georgia Power: Largest electric utility in Georgia, serving 2.4 million customers
• Alabama Power
• Mississippi Power
• PowerSecure
• Southern Linc
• Georgia Natural Gas
• Atlanta Gas Light
• Nicor Gas
• Virginia Natural Gas

Products and services

• Alabama Power Electricity Service
• Georgia Power Electricity Service
• Mississippi Power Electricity Service
• Southern Power Wholesale Generation
• Southern Nuclear Operations
• Southern Company Gas Distribution
• PowerSecure Distributed Energy Solutions
• Southern Linc Wireless Communications
• Georgia Natural Gas Greener Life Carbon Offset Program

Quantifiable outcome

• 42% year-over-year increase in data center power consumption
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Turner Enterprises and Turner Renewable EnergyminorStrategic or Co-development Partner · 6 May 2026Ted Turner's companies partnered with Southern Company to develop utility-scale solar projects including Cimarron Solar in New Mexico, Campo Verde Solar, and Morelos del Sol Solar in California. These collaborations helped establish Southern Company's first utility-scale solar operations.
• Powder River Energy Corporation (PRECorp)minorStrategic or Co-development Partner · 17 April 2026PowerSecure, a Southern Company subsidiary, is collaborating with PRECorp and NRTC on a utility-scale battery energy storage and solar generation project in Moorcroft, Wyoming. The system includes a 5 MW battery storage facility with 21.6 MWh capacity and 1.25 MW ground-mount solar generation, expected to reduce PRECorp's annual wholesale power costs by up to $1 million.
• Blount County, AlabamaminorStrategic or Co-development Partner · 17 March 2026Southern Linc, a Southern Company subsidiary, partnered with Blount County, Alabama to integrate VHF and P25 radio networks with its LTE network, enhancing public safety communication coverage, reliability, and interoperability.
• U.S. Army Reserve Private Public Partnership (P3)coreStrategic or Co-development Partner · 26 August 2025Southern Company signed an agreement with the Army Reserve's P3 program to provide meaningful career opportunities to Army Reserve soldiers, veterans, and their families. The partnership opens a pipeline of ready-now, top-trained talent for critical jobs across Southern Company.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Entergy Corporation: Regulated electric utility serving Louisiana, Mississippi, Texas, Arkansas with substantial nuclear generation – overlapping with Southern Company's Mississippi Power territory and nuclear operational profile.
• NextEra Energy: Largest U.S. renewable energy generator and parent of Florida Power & Light. Comparable in scale and as a regulated utility with significant generation portfolio, though with greater renewable weighting than Southern Company's nuclear/gas mix.
• Dominion Energy: Vertically integrated regulated electric and gas utility with significant data center exposure in Virginia, making it a highly comparable peer on the hyperscaler demand theme and gas distribution business model.
• Xcel Energy: Regulated electric and gas utility operating across multiple Midwestern and Western states with significant generation portfolio diversification, comparable in business mix and capital deployment scale.
• American Electric Power: One of the largest U.S. electric utility holding companies with transmission-heavy operations across multiple states, providing a comparable multi-jurisdiction regulated utility model with similar capital intensity.
• WEC Energy Group: Regulated electric and gas utility holding company serving Wisconsin, Illinois, Minnesota, and Michigan. Comparable in combining regulated electric and gas distribution with similar rate-regulated earnings model.
• DTE Energy: Diversified regulated electric and gas utility based in Michigan. Comparable mid-large cap regulated utility with similar gas distribution business and generation portfolio; board members Anthony Earley Jr. and David Meador previously led DTE.
• Duke Energy: Large regulated electric and gas utility holding company serving the Southeast and Midwest U.S. with comparable nuclear, gas, and renewable generation mix and similar hyperscaler data center exposure. Closest direct comparable to Southern Company in scale, geography, and business mix.

Broad incumbents

• PG&E Corporation: Large California-based regulated electric and gas utility. While serving a different geography, it represents a comparable regulated utility business model with nuclear and gas generation experience; board member Anthony Earley Jr. previously led PG&E as CEO.
• Constellation Energy: Largest U.S. operator of nuclear power plants with significant commercial/industrial customer exposure including data centers. Closely comparable on the nuclear generation platform and hyperscaler customer thesis underlying Southern Company's growth narrative.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/southerncompany
• YouTubeyoutube.com/user/socompany
• Facebookfacebook.com/SOCompany
• LinkedInlinkedin.com/company/southern-company
• Instagraminstagram.com/southerncompany

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries11 records

Funding overview

Funding rounds6 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Southern Company