Customers across Alabama and Georgia are set to benefit from a historic U.S. government investment into energy infrastructure and grid reliability. Southern Company’s subsidiaries, Georgia Power and Alabama Power, have received a loan package of up to $26.54 billion from the Department of Energy’s Office of Energy Dominance Financing (EDF). Over the approximately 30-year term of the loans, customers are expected to recognize estimated savings of $7 billion.
Southern Company Chairman, President & CEO Chris Womack, Department of Energy Secretary Chris Wright
Southern Company’s vertically integrated, state regulated‑model provides an orderly and transparent framework for working with regulators to deploy essential energy infrastructure investments – like those supported by the EDF loans for the benefit of customers. Under these new EDF loans, Southern Company subsidiaries will be among the first to take advantage of the funding provided by President Trump’s Energy Dominance Financing Program created by the Working Families Tax Cut and will finance a portfolio of projects across its Southeastern service territory.
Southern Company subsidiaries are investing in transmission system improvements and grid enhancements across Georgia and Alabama to deliver reliable energy for millions of electric customers. 1,300+ miles of new transmission lines are planned across Georgia and Alabama in the coming years.
“These investments will support the extraordinary and transformative projected growth we’re seeing across our company. These loans will help lower the cost of investments in our grid that will enhance reliability and resilience for the benefit of our customers,” said Chris Womack, chairman, president and CEO of Southern Company. “At Southern Company, we are focused on serving growth while maintaining rate stability and driving long-term savings for customers.”
Thousands of megawatts of new battery energy storage systems (BESS) are being constructed across Georgia and Alabama.
These essential energy infrastructure investments include power from natural gas, nuclear uprates and license extensions, hydropower and battery energy storage, as well as transmission system improvements and grid enhancements to help provide safe, reliable and affordable energy to Alabama Power and Georgia Power’s combined 4.3 million customers.
Financial draws from the EDF loans announced today are subject to satisfaction of conditions and may be made through September 15, 2033.
