Southern's Georgia Settlement Agreement to Add $4 Billion in CapEx, RBC Says

MT Newswires Live12-13 00:51

Southern's (SO) recent settlement in the Georgia All-Source Request for Proposals is estimated to add $4 billion to the company's capital expenditures, RBC Capital Markets said in a Friday note.

The company's Georgia Power unit said Wednesday that it reached a stipulated agreement with the Public Interest Advocacy staff of the Georgia Public Service Commission for about 9,900 megawatts of new electricity resources.

Southern expects the Georgia Public Service Commission to vote on the settlement on Dec. 19, and RBC said the company's management expressed "high confidence" over the regulator's approval. With the optimism, RBC incorporated the $4 billion incremental capex into its forecasts for Southern.

The investment firm said it cut earnings per share projections for 2026 and 2027 by around 1%, but increased the estimate for 2030 by 0.6%.

RBC lowered its price target for Southern to $99 from $107, while maintaining a sector perform rating.

Price: 84.76, Change: +0.02, Percent Change: +0.03

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