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January 25, 2013
10:52 EDTSOSouthern Company discloses Mississippi Power settlement agreement
The Southern Company (SO) disclosed this morning that Mississippi Power and the Mississippi Public Service Commission entered into a settlement agreement. Under the terms of the agreement, Mississippi Power and the Commission shall follow certain agreed-upon regulatory procedures and schedules for resolving the cost recovery matters related to the Kemper IGCC. These procedures and schedules include the following: Mississippi Power’s filing within 30 days of the Settlement Agreement of a new request to increase rates in 2013 in an amount not to exceed $172M of financing costs to be recorded to a regulatory liability to be used to mitigate rate impacts when the Kemper IGCC is placed in service; the Commission’s decision on that matter within 50 days of Mississippi Power’s request; Mississippi Power’s collaboration with the Mississippi Public Utilities Staff to file with the Commission within three months of the Settlement Agreement a rate recovery plan for the Kemper IGCC for the first seven years of its operation, along with a revenue requirement under such plan for 2014; the Commission’s decision on the rate recovery plan within four months of the filing; Mississippi Power’s agreement to limit the portion of prudently incurred Kemper IGCC costs to be included in rate base to the $2.4B certificated cost estimate, plus costs related to the lignite mine and carbon dioxide pipeline; provided that this limitation will not prevent Mississippi Power from securing alternate financing for any prudently incurred Kemper IGCC costs not otherwise recovered in any Commission rate proceeding contemplated by the Settlement Agreement; and the Commission’s completion of its prudence review of the Kemper IGCC costs incurred through 2012 within six months of the agreement.
News For SO From The Last 14 Days
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February 11, 2016
08:34 EDTSOAGL Resources sees Southern Company merger closing in 2H16
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February 3, 2016
14:24 EDTSOSouthern Company says plans to issue $1.2B of equity in 2016
Says long term EPS growth target remains 4%-5%. Says entering 2016 with "strong momentum." Says will maintain trajectory of dividend. Says does not expect contribution from AGL in 2016. Comments from Q4 earnings conference call.
13:17 EDTSOSouthern Company sees 2016 residential sales growth 1.2%
Sees 2016 commercial sales growth 1.0%, 2016 Industrial sales growth 1.0%, 2016 total retail sales growth 1.1%. FY16 revenue consensus $19.25B.
13:05 EDTSOSouthern Company sees 2016 total retail sales growth 1.1%, consensus $19.25B
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13:04 EDTSOSouthern Company sees FY16-FY18 CapEx $17.9B
Sees FY16 CapEx $7.3B, FY17 CapEx $5.2B, FY18 CapEx $5.5B.
13:02 EDTSOSouthern Company sees FY16 EPS $2.76-$2.88, consensus $2.94
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13:01 EDTSOSouthern Company sees Q1 EPS 53c, consensus 59c
Guidance from slides presentation for Q4 earnings conference call.
06:54 EDTSOSouthern Company reports Q4 EPS ex-items 44c, consensus 43c
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February 2, 2016
14:32 EDTSONotable companies reporting before tomorrow's open
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08:49 EDTSOSouthern Company volatility elevated into Q4 and outlook
Southern Company February weekly call option implied volatility is at 17, March is at 19; compared to its 52-week range of 14 to 24, suggesting large near term price movement into the expected release of Q4 results on February 3.

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