Southern Expands Power Spending

Georgia regulators have approved Southern Co.'s plan to potentially increase spending by $15 billion. This investment aims to meet the anticipated surge in electricity demand from data centres, new manufacturing facilities and the growing electric vehicle market.

The decision comes as US electricity consumption is experiencing a boom, placing strain on the power grid and creating opportunities for infrastructure investment. Southern Company's existing investment plan allocates $63 billion through 2030. The company projects an additional load of over eight gigawatts within the next six years. To meet this demand, Southern's Georgia Power unit plans to delay coal plant retirements and invest in clean energy sources.

Southern Company anticipates significant growth in the data centre market, estimating that 80% of its electricity revenues come from data centres. This market is expected to play a major role in the company's sales growth over the next three years. The company's strategy includes investments in regulated utilities and state-regulated assets, with a focus on capital projects.