Southern Company profits soar as summer heat scorches South

Profits at Southern Company — the parent of Alabama Power — rose to $1.2 billion in the second quarter of 2024, an increase of more than 43% compared to last year, as the company benefitted from a series of electricity rate increases, high temperatures and an influx of data centers to its service territories.

Alabama Power’s net profits in the second quarter were $369 million -- a more than 18% increase from the same period last year.Alabama Power’s operating revenues in the second quarter were $1.87 billion -- a nearly 11% increase from the $1.69 billion for the same period in 2023. In the first half of 2024, Alabama Power recorded $3.66 billion in operating revenues, up 9 percent for the same period last year.

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