Earnings call transcript Q2 2023

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Operator

Good afternoon. My name is Tommy, and I will be your conference operator today. At this time, I would like to welcome everyone to The Southern Company Second quarter 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. reminder, is a August recorded, As XXXX. Xrd, Instructions] this being conference Thursday, [Operator

like the Treasurer. to Mr. now would I turn Vice sir. Investor ahead, Scott call President, Relations go and Please, Gammill, to over

Scott Gammill

Thank you, to second XXXX quarter and call. Southern Company’s earnings Good Tommy. afternoon welcome

Officer Financial Joining Officer. are Executive President and Company, and Womack, today Southern Dan me Chief Chris of Tucker, Chief

actual addition results be discussed to you, Form differ statements, Let we’ll making factors forward-looking filings. could today forward-looking important me and XX-Q, those cause historical providing in from in to information. materially XX-K, the indicated Various remind statements subsequent our in Form those including

we as are both to at we this financial this addition, information investor.southerncompany.com. which In GAAP the financial conference this call, in present call. the as morning, Relations slides the information released Reconciliations Investor website for well on measure will available non-GAAP applicable are our on included

At this turn over the call time, Chris I’ll Womack. to

Chris Womack

thank us good exciting company. and Scott a is time for for and for you afternoon you, pivotal such what our Thank and joining

announced you we achieved on Monday, commercial Vogtle Plant many of X As operation. Unit know, that successfully

of X,XXX vision. week XX-hour, that millions which X supply a labor when a to pandemic, when can While bring now milestone carbon-free regulators development things something Vogtle online, decade-plus had to of with thousands accomplish Unit of new option be committed of group tens chain, and we global involved common journey with and seven-day celebrated. electricity. Georgia hours, workers others share this customers work is is and in co-owners engineers that an courage managing Unit a through over This global incredible X to serving we remains power a prove a megawatts, support nuclear craft American combined the didn't as monumental

of of our substantial from completion all progress hot functional the continues as last receipt Turning X. project iTAC testing, of so of X and have been testing Commission assemblies, when now through the acceptance turnover call, middle team is Unit XXXG by recently, team's X. criteria fuel working Nuclear highlighted for to signifies final will all Since load the finding complete, receipt XXX Regulatory that operations allow met. Unit fuel to to project focus make most current and The for system Unit

XX as VCM order, file on Georgia load the can X. prudence Service Recall, request his contemplated in Commission following we Power Public with fuel the Unit

of the final team the power production load, initial for conduct side And activities fuel and nuclear achieving the conditions island of pristine electrical project and the Following start-up associated necessary criticality. testing primarily preparations the plant. with will systems in

end project capital and Importantly, fourth last between in quarter forecast quarter. X XXXX the first will continue quarter XXXX. placed we the Unit cost unchanged and late project since is service to be of

The energy We project successful forward George's providing of for look come. this to completion critical decades future. to important for and reliable, to customers our units energy carbon-free nation's these

update. now you the I'll call a to Dan, over for financial turn

Dan Tucker

good afternoon Thanks Chris and everyone.

higher $X.XX XXXX, and second earnings last our than were $X.XX year. share the $X.XX quarter of than adjusted per lower For our estimate

somewhat of drivers in year expenses. normal last O&M and taxes interest expense and depreciation and performance our primary The and conditions, and weather compared were higher milder rates than amortization pricing, income by to changes lower offset

known in aggregate fewest and on to degree during XXXX history has XXXX Atmospheric climate in territories reported been the record commonly as Administration, with service in and days our today's our data XXX-year of Oceanic the and by of earnings the the Weather is adjusted first half mildest NOA. included National more package. release reconciliation results detailed reported A of and compared as the electric

for is months the the our impact $X.XX year range which weather-driven variance year. normal EPS EPS full share ever guidance first relative our headwind of is significant The a six for weather per to a negative negative largest

fix XXXX. the able a which were we roof the well While while into coming in sun XXXX position is year was to the shining company and

and with reliability and remain management, this our keenly been cost the on half focused safety, focus along We on constant in second year. will customer have of satisfaction

adjusted $X.XX the third estimate quarter Our earnings share. of for is XXXX per

commercial Turning positive now with by for We've usage sales Weather-normal the added levels. industrial residential sales. Year-to-date, lower sales pre-pandemic and to XX,XXX in outpace we've in to and gas XXXX. continue which nearly XXXX, first XX,XXX customers, trends retail economy. commercial line of natural customers seen were the levels retail half growth Year-to-date sales strong electric and offset

back turn Chris, call I'll now the over you. to

Chris Womack

closing, Dan. Company ranking number for The moment Forbes like the take was on nine ranking recently In acknowledge of Thank to Southern within awarded employers spot women. best industry. overall America's to a highest you, our I'd that

once to honored are selected We again. be this to list

to leadership serve better tenant diversity and a experiences Workforce of is variety we customers. and our of have ours ensures perspectives and the

all a to goals. where and feel continue employees to professional will culture able respected their We emphasize accomplish valued,

Thank you to for are Southern afternoon take Operator, ready interest your we Company. for questions. in this us joining now and

Operator

with Thank question very Pourreza, ahead. is our Shahriar go you Partners. Guggenheim much. the line from And first on Please we'll proceed

Chris Womack

Shar good afternoon.

Shahriar Pourreza

Chris, Good the the morning. prepared world was record that fastest for remarks.

one. that on here congrats So,

Chris Womack

appreciate perspective. and Always your your your comments Thanks. And analysis.

Shahriar Pourreza

new major a And in state? now been economic new guess, that starting Georgia versus prior you change industrial Just you update have How needs. the backdrop. the George's pace guys step seeing obviously, many, seen the announcing capacity gigawatts with customers have I are in on

IRP viability remaining How this incremental sort we about as demand. including assets What should is the thinking you're think to the about updates prior of coal the any needs, embed? of capacity

filed? see drastically we being a Thanks. different IRP could So

Chris Womack

Shar, through we're that now. working And analysis

the across you Georgia wonderful said of and we've commented couple activity we've I conic of all past to about think before, the we over years. state have seen development that the

of Some XXX-plus has XX,XXX investment, I billion the that governor reported. jobs some know projects, $XX-plus

on sure needs at into this So, forthcoming, capacity the I'm But activity a it's the time. impressive then the and all not it little I we're that work think needs terms we've bit work what talked figure what premature. We've for think turned commission That's we'll means seen. some about in means us doing. I that And going that with of capacity out that forward.

Dan Tucker

Look, again, through seen having potentially of it's announcement to the economic what given is we're analysis, the thousands terms hundreds in in year. of development fair going we've past megawatts the it's a perspective we're from a in And announcements. but say now maximum kind instances where of at

has accelerated. so And the pace just

a And certainly of playing that's that, you industrial, of places. industrials It's centers. involved electric it's data in around there's story also the a large lot but particularly transportation a sector. with mentioned lot out

mean, into an I here today, percentage that for seeing. data of electric double example in as terms of we load. years of the be ours. well growth we're overall X.X% Five sit are of centers our will digits the now, as load pace from roughly Just our That's

Chris Womack

excited very about We're it.

we're real positive factor that the about positive a it's in think contribution, state. I excited here

Shahriar Pourreza

the it's you potential update early I the a the Texas, we're around are that Chris, Do opportunity. on to material. seeing know very moving when obviously that Dan customers it's but have team sense, amount and really could you Cam us and of and and in process,

Georgia, to really So, material. which I is mean,

the what So, time? I'm curious on kind of just

Chris Womack

Yes. Sure.

I'm that I and get that think you soon as sure a share figure with it's to the out But we share we with little a we'll point, premature. as the industry. conversation have and that bit commission. with

Shahriar Pourreza

if approaching for we're the case you then settlement, a about about thinking provide lastly, case? how Unit Okay, or Chris, like be process, perfect. be potential load we fuel to a the impact thinking once And fuel could X prudency obviously whether all, can load. see long rate we especially the and the we should like at And takes potential special election should a plan. if Anything

Chris Womack

think are questions. of a Yes. couple there Shar, I

together. there embedded You

important. First, we that proven, process. we Once fuel then to But what with and the we'll staff get load. process figure having the on work in out. to feel, is we have around right happens once now, the that load, We'll the transparency commission get get figure we'll fuel out the very

that mean, with get think current the reference the makeup we'll I you prudence I through the made commission, -- the the sense to I is of commission.

for nothing can courts. no by in point idea have the Rose still will I what decision decision in say order about this that there's that the time. case, waiting that we're at We But more so happen for

Shahriar Pourreza

and Very Perfect. helpful. you, appreciate Dan. I Chris Okay. it Thank and congrats.

Chris Womack

Thank you.

Operator

It And line. we'll to the Please is Davenport get Carly with go question Goldman Sachs. from on next our ahead.

Chris Womack

Carly how are you?

Carly Davenport

strong. as to could quite talk looks you evolving and quarter well. in saw questions see continue still the just Doing kind the are today. demand Can weaker to evolving what during so weather-normalized forecast much commercial the relative a things we move for through year? taking I Thanks how about we just of little Maybe for side, the you how terms your that but industrial it. on appreciate of starting bit

Dan Tucker

we're And well. two -- Carly. those are that dynamics this year this negatively the From industrial saw we absolutely, housing is perspective, -- Yes, seeing sector. earlier And impacting as growth. one an play different out

So, we're broader the particularly clean in usage textiles, our where given it like to just degree when things trends involves it some industry, comes impact lumber, a housing of in to short-term. glass stone the carpet, seeing the that

from other the a perspective. is then chemicals an thing And industrial

of out that end in of of year. we've some So kind as residential put wasn't we're and the by so pretty the our was facility we're really early forecast just had together has side. what anticipated, particular year, anticipated What the we seeing before the Alabama slowed anticipated playing very just in encouraged right one commercial Again, and on that significantly. we it's when

perspective, in a the And were commercial what to perspective, out customer I a sustained of that stories again, different lot seeing levels spoke that seen we're above residential just from regard. seeing playing from we've a growth well pre-pandemic. we

residential economic lot of I dynamic center it its certainly, mentioned. of just of is commercial it naturally Some following And growth. that a the some this development, is data

a of our like impact to a important $XX to more two how is on relative the these here in residential industrial contribution as As $XX is of commercial about is X% pertains revenue change million. it million of remember A to $XX classes it's and sales million kind results, X% impacting in only basis. change what's

in getting on a terms we're benefit of the industrial. So we're offsetting commercial for what of seeing us, implication residential net more than the

Carly Davenport

super maybe the Got the then environment. front And you. rate helpful. Thank on in context the it. of financing current just That's

still of year. the financing outstanding you've some kind rest Just this of for got

you you are how of the XXXX? through execution have thinking Just move that as plan we about

Dan Tucker

kind flexibility. always Yes, the of Carly. options keep Look, our open, we're going to

early us seen instrument debt Lot year. the across basis stuff parent. towards the franchises. just used utility of unsecured the at do on we've We You've different typically instruments lean convertible this ongoing senior an

between mix as we're market and when we anything the and about the and getting to to monitoring is the rates are characterize sure to it makes wouldn't maturities about sure as of in the out as plans making be thoughtful as can market monitoring I fixed the our going doing, make We're ordinary. being sense. variable everyone we we're actively like always

Carly Davenport

you. Thank color. the Appreciate

Dan Tucker

Thank bet You you. Carly.

Operator

And question right It we'll get to our on Dumoulin-Smith, is from Bank line. Julien ahead. of America. Go next the

Chris Womack

you Julien, doing? how are

Julien Dumoulin-Smith

for it. last quarter of thoughts, appreciate just front other to think time. on Thanks back latest Hey on both subject on that this Really to that always kind I half your the been in looking procurement utility is back here. we and this of and that the much. had year. the front. -- the so look, renewables How side here about Thanks on Curious Great. hear Georgia? ownership know coming talked renewables

here, think, I the in tad separately, like connected the in talking and projects is? was environment. progress a of some your you it And side and actually Dan, to terms Do just ability more win Power about last looking rate of Southern this were maybe time house. we that want with where accrue it effort competitive then about talk the the to the you environment of evolution from

Chris Womack

with me on renewables Yes, Julien, the start front. let

you IRP, in X,XXX Georgia XX of proceeding. had doing the megawatts know, As renewables that approved another

later IRP operation between of year, XXXX. dates first this resources The begin targeting will and renewable with XXXX some megawatts X,XXX

six-year a may some Alabama seen Power have modified you renewable think X,XXX certification megawatts I guidance period. over also generation

also later be I that think this So will year.

our and to proceeding own to more we're of got from opportunities we're pursuing we perspective. for to us we've from it normalization think the looking cost renewables. So, tax forward we'll And support ITCs to take treatment best renewables. of some Clearly, and for us a between and advantage commissions own PTCs

looking year. processes later we're those to as they proceed forward this So,

to want I think your pricing? other you Dan, question, talk about

Dan Tucker

look, strong we think Southern question continue in as I The ever hold And it's way and the Power able deploy the as Well, radar of to there. opportunities for Southern fully been. right the yes, active, Julian, other continues was true. is screen be same viable around expect Power to to capital to

keep in creditworthy of things the look my there There's just the short think stay be same happening. risk long-term terms but Southern We'll we message discipline we've hurdles would always Power I tuned. had contracts, for, counterparty, the profile, on good

Chris Womack

regulated play bottom for -- So Julien, on out optimistic later very what that see renewables. plays And side line, we'll holds I of begin to the the think out future how year? this we're

Julien Dumoulin-Smith

then the will. second you about renewable generation ago, ability prior generation tax Excellent. with, you through some And kind to that think at alluded it. as just been aligned of utility poking a Got to if of questioners credit the added the own here, have you this needs as optimization, really

could I that RFPs forecast the you talk opportunity the out? prior IRP Can seeing just and ultimately know and but about to getting alluded play that the line we CapEx cycle, load specifically that together coming to starting proposals, that itself you just maybe updated? see time

Chris Womack

again, Julien, do RFPs, some Clearly, and I loads. we've Clearly, premature meaningful to -- that Yes, see spoke we analyze got the we this and that as second a the as later is as we development implications I process it's forthcoming for once work night in little earlier, what the activity renewable think the year. of regard. about more to

move right few need you let months as process. the process But keep And now play years. we'll the next next few so out. updated simply the and we RFP to over through we

Dan Tucker

Yes.

come Chris together forecast As our latter a plan before, horizon. will just this of what with said in capital consistent the and from said, perspective deployment part we've

is So it XXXX opportunity XXXX of the meaningful terms deployment was where capital exists. in not a not that real but but probably thing a might beyond --

all thing other territories, increasingly development I generation, to to service the help the support renewable as to are choosing mentioned and locate these just be that's our aspect, think that's they Julian, trying you everything we're customers And coming economic with drive demanding together to in this. helping served are do. And

Julien Dumoulin-Smith

see I block All to you guys guys best hear Wish you. you hope I soon. Take care. and right.

Chris Womack

Julian. right, All

Operator

you Thank on right JPMorgan. Jeremy with much. question next the is get We'll to Go from Tonet very ahead. line our

Chris Womack

Jeremy. Hey

Jeremy Tonet

afternoon. good Hi,

see issues guess, start-off issues that at line any same the with here, away for finish what type of Just wondering I that? issues want like or you there to kind you see, the that? do the off learnings of Unit gear, materializing Vogtle take can some of from here just head And X weren't

Chris Womack

a Jeremy, lessons transfer we be of X. X for the And now unit few one would unit things commented over we've years there -- as we set a learned from prior for to that

me Unit out. of took how XX X. It testing hot examples you is some that give Unit On XX functional took on Let X playing just days. days

XX X, Unit X. from complete days forward was to testing start XXX days X. days. to move Unit XXX on hot took to on And X on XX It coal from functional Unit Unit Hot test days -- days to on hydro, XXX functional was XXXG XX

are how those as X. to that over X will learned show examples from And that lessons Unit I work So, X. think continue, of you're move -- seeing being learned think, lessons we I Unit through clear itself Unit

Jeremy Tonet

it. -- just of helpful. here. That's Got And pivoting Thanks. kind

path forward? I what's this do saw overruled the approval exchange up market, year? for think of make the the you core what Southeast you that just And Energy its D.C.

Chris Womack

be issues has back participate around mean, questions and I is there Yes. to it couple clarify interconnections. the some to could it and who about FERC seeing in are a to remanded it pool, that who of power

of remanded there. I nothing couple back but clarification issues, of So big simply for they're think a

we've to well. pleased very and with continues operate is results Everybody seen. performed the mean I very seeing

it's like -- to of be remanded FERC, will I with to for it that issues said, going they'll clarify be couple back seen a forward. So, going

Jeremy Tonet

the are helpful. Got be you Vogtle you last Southern hydrogen just it. What And hydrogen? green on participate and for potential Thanks. if with reg what potential one, do could from That's And expecting think treasury? Power's I could. to

Chris Womack

something from any hub. treasury. participating I'll and has of let Let hydrogen, DOE in hydrogen Dan processes me say touch a about on rules with quickly number We're

that. about excited we're So

XX% may did you blend site. McDonough Platt our we recall, As at Gas a

off-takers. we the transportation right, product mean, the Vogtle find and So on going technology so by we and pricing can all right get to activity we're get seeing this forward Georgia. if the of and I can that We market in can about considerations look the excited continue serve the we're then the hydrogen. to thrilled are develop and around how possibility customers

are aspects Clearly, of to that it viably commercial there to lot point that through we've got make viable. get -- lot excited work of that's got really -- of there's So work to we be hydrogen a to that a commercially to get about.

Daniel Tucker

Yes. prohibitive the Otherwise, that be it those broadness it a the going a I in kind broadness transitions permanent are like certainly, rig, be that's terms in specific, whether industry, makes broad out it's as in hands I there. the may more just in technology. that's And that deployment people as Jeremy, help a Treasury get cost Group. or it possible to something of most to us, And treasury going drive the for of lot the sense for of think think the temporary of to to of

And is counterparty, our play contract, another same scale, or certainly expands an all it's creditworthy this Southern opportunity and extent opportunities certainly, space In meets to it long-term we renewable wheelhouse criteria. It opportunities. find the Power's universe to there, of with electrolyzer Southern the serve Power's and to providing terms of that entity to utility in counterparties. a a generation of

Jeremy Tonet

Got it there. leave helpful. I Thanks. it. That's

Daniel Tucker

you. Thank

Operator

Arcaro David Go from we'll And Morgan the ahead. get question on next with our line is to Stanley.

Christopher Womack

Dave. Hey,

Daniel Tucker

David? you, are How

David Arcaro

to [ph]. on Hey, my might a touch you Forum Wondering good. little for if questions. bit able taking be Thanks Energy

wondering Power agreement thinking storage reached system long you're Georgia time? an was how . this might role a I You in your quarter. duration play to energy over had

Christopher Womack

Forum. about excited relationship we're again, the Once we've established with that

We we to to the going -- think of got a XXX-megawatt be on to storage of be have utilized it's battery system and X-hour batteries a duration the forward. grid loan a X- got part mix of the the XX and megawatts kind XXX-hour has part

Forum ago. their excited ribbon month were up doing. ground so West a We Virginia we're or breaking -- in at about So what cutting is

of to So going has they're hoping be we we development to their we are think we we're a forward, be about part to looking and go go got forward. technology forward excited and But successful. mix Forum as this as the

of we and reliable and And we sure we As grid, resilient you is very know, think of it's whether at think technology we a pay critical. maintain a lot advancement lot a research to control attention just we development. making as or solutions, look submissions very,

And work with the we're partner so is glad to and doing, excited about we're -- them. form that

David Arcaro

sense. the in your able offsetting manage areas at to secondly, And through. And makes headwind are you're That where the And year? control obviously, a level on could -- cost that in of find being you and your the looking terms this Great. for in budget then weather O&M big touch working key that you're just confidence so flex far? headwind

Christopher Womack

Yes.

think and we'll earlier keenly remain Dan management. it said I cost on in that the conversation -- focused

that cost to focus so And management. similar got correspond we've on with with

efforts to do feel of we good know make forward of now, lot we company And a sure year. more through go on so the there we've across we as are, number we the about got around but we where to And cost the are right controls. executing management work rest that are going a

David Arcaro

Congratulations Understood. appreciate I And again. Vogtle it. Unit Okay. thanks on X.

Chris Womack

very you Thank much.

Operator

the Evercore Chopra line. Go next We'll with you. on It get our ahead. Thank Durgesh ISI. from is question

Durgesh Chopra

brief, seconds afternoon keep prepared I'll XX good it of and real Hey, hopefully. remarks. X guys. minutes

following up question. on Just David's

delivered other that weather higher had unfavorable should Is and you cuts, versus all we actually quarter, think normal, that or we this $X.XX things than of about estimates. your there just cost are or So $X.XX but other onetime things?

Dan Tucker

it's takes cost highlight to different in to question little to and frankly, significant This particular are labor. any doing primarily And and we're where, It's I terms overall, out of a it and there's of business the some doing we need fruit just original all lift, little always here our there we're where of mean Dave's forecast. Durgesh. that that everything the doing a do going be deliver. than back pulling stops to reductions, area Yeah. But doing our disservice a the and because is everywhere. we're puts

Durgesh Chopra

if I'll just Okay, can, solid. then with follow you Scott. just And maybe up otherwise,

initial takes on July Just any weather?

Dan Tucker

It hasn't half. first looked like the

Durgesh Chopra

Okay. Thanks Appreciate so the much. time.

Operator

question on from much. Barclays. very We’ll It’s ahead. Nick the Campanella you next Thank Go get from to line. our

Nick Campanella

Hi, for congrats taking Hope news. question. and my X well, everyone. Unit the doing on you're Thanks

Chris Womack

Nick. Thanks

Nick Campanella

absolutely. Yes,

Dan, flows plan cognizant use forward Unit in X So $XXX slides to cash I'm us of in soon lot And the that quarter. also to sheet knowing we can just just detailed talked you you're that in that and the improving remind as your getting I looking balance CapEx your but about region? in on CFO. here you uplift your we're a know then you million fourth those closer of the preferred roll different forward past, opportunities talking up maybe

Dan Tucker

we'll be been construction the It Yeah. kind question. and is all and of cash So strategy, historically that of you which on right? had size plan, terms where primarily opportunity capital above our X, of the operating cash. times BOGO heavy thanks of things three represents common positioned And if said over on, for kind we this is as you the in we're the will, use ROEs one, to fund dividend. that flow to three X Nick, and focused of pre-penalty our the really

we're lot we credit the so for this XX, we're priority of this to range to number provide to to awful that expect debt. metrics to such And does an is credit what XX-plus that continue that things mentioned flow cash plan in thing of that’s grow one leaves one, this the also deploy capital our uplift you the against is quality. on, And FFO focused more an

once of to future. some utility the then get currency things, credit use premium that's back is there these well-above our raise as not opportunity the position again sort being to just and a thresholds that opportunity the that and for maintaining foreseeable at to And do levels

too. So that's thing

And more I the the below little Chris talked likely then a about so XXXX, lot XX%, Board that for to is at kind more recommendation growth gets, ratio and or of, and third payout a our the to but we've earnings thing that make as maybe to have called we'll XXXX, the go sustainably opportunity to growth. a be maybe our opportunity rate increase with of to aligned our an dividend that

So it's, again, all of the above, but really do. important things that this enables us to

Nick Campanella

from All right. That’s that. Thanks for it Appreciate it. me today.

Chris Womack

Nick. Thanks,

Nick Campanella

Thank you.

Operator

And on our Storozynski to ahead. next we'll Seaport. question the line Go from Angie with get is

Chris Womack

how Hi, Angie. Angie, are you?

Angie Storozynski

Very good. Thanks.

a just you just combat -- you. I'm And picture of last like. and have there's or But feels prudence still mode it this So trying the -- to guys back the that decade I to southern basics mode. for review been in know for ahead

look So one. I mean, what does it like? even So that's

you online is What is, you mean, that X has further you just -- stock And here? stock think Unit re-rated Well, do? from somewhat. the number clearly it to two can the putting I besides re-rate

Chris Womack

is question Angie, boring. stay going beautiful. boring think in me terms with combat we're part first say in execution. to in We we're Yes, in terms doing combat this your being the period. let going little to of a And of of start mode be vogtle I'd hopefully, mode

but that language of mode, they circle we're your environment service using paying sure focused world-class of sure doing customers around that a aggressive we're But to we're but do constructive perspective, issues and a giving but center customers reliability, attention in what on sure we're in being make also regulatory a the a way at need life, making providing maintaining we aggressively to of the from making everything portability. be also going very combat on resilient focus that incredibly

a of we So lot do. have work to

we And be so and that execution. we going that's focused I classic. back make think to singly important to very And that old Southern deserve going also days returning valuation we're the the of as be to premium on very case

Dan Tucker

of first accident deck circle no one. and a page our mistake no is life has that the of It

Angie Storozynski

anything Okay. change regulatory just that your more And to grid the through violent like impact Is else, assure with you of also setup perspective a going guys then just there point, you have, storms recovery know, the any those smaller would territory. maybe and service timely investment you, one and hardening basically? but help climate could everybody associated costs from

Chris Womack

resiliency resiliency our to for to also and system. weather, storms work improve focus so that the different at I out the but it's with capital enhance our large extreme technology help and of with systems And conditions budget getting but are of doing attention no improvement there reliability, but and of these to improve lot today work us and and a scale I would more pass programs, to with so tackling blocking that look more grid of you are paying projects, kind basic a changing transmission lot with improving say, mean, circuits really prepare our distribution if maintain reliability undergrounding, on and

Angie Storozynski

Great. Thank you.

Operator

much. are question-and-answer remarks? very that session. Sir, you today's And there any Thank closing will conclude

Chris Womack

time press thank again, everybody that everybody, and calls we're as today. everybody the for But your today. we'll on very let again, and wonderful be thank with X progress unit Once ahead forward. to safe. continue brought Unit we for me much, and Southern for a and Company commercial making joining us move Thank It's you

Operator

concludes XXXX Ladies sir. you, earnings and the call. quarter Thank Southern Company second gentlemen, this

and have of great disconnect, the now may a rest You day.

The Southern Company (SO) 3 Aug 232023 Q2 Earnings call transcript