“should the Georgia PSC confirm the need for and ultimately certify the entire 10 gigawatts of new generation, there could be up to an additional $4 billion of new state regulated generation capital through 2029.”

In context

“d P. Poroch: Thanks, Chris. Good afternoon, everyone. Earlier this year, in addition to our $63 billion 5-year base capital plan, we highlighted $10 billion to $15 billion of projected potential incremental regulated capital investment through 2029. With the approval of Georgia Power's 2025 IRP, along with the certification filings for new resources we now have improved line of sight on our expected capital opportunities and are adding $12 billion of state regulated capital into our 5-year base capital plan. This represents the capital investment associated with the low end of the 6 to 10 gigawatt range for new resources from the certification processes Chris mentioned earlier, along with investments associated with upgrades and modernization of existing resources approved in the 2025 IRP should the Georgia PSC confirm the need for and ultimately certify the entire 10 gigawatts of new generation, there could be up to an additional $4 billion of new state regulated generation capital through 2029. Separately, Southern Power, our competitive power business has commenced repowering at 3 additional wind facilities in our existing portfolio, all of which have begun construction and are projected to be in service by the first half of 2027. These projects represent approximately $800 million of additional investment, which is now included in our base capital plan. In total, our 5-year base capital plan has increased $13 billion from $63 billion to $76 billion with potential upside of approximately $5 billion still pending tied to the generation procurement certifications in Georgia and potential FERC-regulated gas pipeline expansions at Southern Company Gas. We remain committed to funding our capital plan in a credit supportive manner that supports our strong investment-grade credit rati”