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SOUTHERN COMPANY

(SO)
  Report
Real-time Estimate Cboe BZX  -  04:00 2022-12-05 pm EST
69.15 USD   +2.69%
10:01aVirginia Natural Gas procures additional Next Generation Natural Gas as part of its commitment to reduce greenhouse gas emissions
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Southern Co.'s Virginia Natural Gas Taking Steps to Reduce Greenhouse Gas Emissions

09/16/2022 | 01:23pm EST

By Chris Wack


Southern Co. said Friday that its Virginia Natural Gas unit is reducing direct greenhouse gas emissions through replacement and the use of its existing safe and reliable infrastructure.

Earlier this year, consulting firm ICF detailed pathways for Virginia Natural Gas to support Southern's goals to reach net-zero direct greenhouse gas emissions by 2050.

The study showed that the use of the existing safe and reliable natural gas infrastructure is foundational to supporting a net-zero, clean energy future with the greatest consumer affordability.

Virginia Natural Gas said it is already reducing emissions through the modernization of its existing natural gas infrastructure to ensure the continued safety and reliability of the system. The company is renewing its natural gas infrastructure by replacing aging pipes with new, more durable materials that are less expensive to maintain and help reduce methane emissions.

Virginia Natural Gas previously received approval for a plan to speed up the replacement of aging infrastructure by the Virginia State Corporation Commission, allowing the company to launch a multiyear program to replace nearly 500 miles of the aging pipeline since the program began in 2012, resulting in a more-than-27% reduction in methane emissions.

Since 2019, Virginia Natural Gas has invested nearly $184 million of the $360 million authorized on infrastructure projects, and this year, will invest up to $70 million to continue to reduce emissions, thereby contributing to broader emissions-reduction goals.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

09-16-22 1322ET

Stocks mentioned in the article
ChangeLast1st jan.
S&P GSCI NATURAL GAS INDEX -10.91% 262.0096 Real-time Quote.68.39%
SOUTHERN COMPANY 0.42% 67.67 Delayed Quote.-1.81%
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Analyst Recommendations on SOUTHERN COMPANY
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Financials (USD)
Sales 2022 26 384 M - -
Net income 2022 3 830 M - -
Net Debt 2022 53 063 M - -
P/E ratio 2022 18,9x
Yield 2022 4,01%
Capitalization 73 244 M 73 244 M -
EV / Sales 2022 4,79x
EV / Sales 2023 5,11x
Nbr of Employees 27 164
Free-Float 99,7%
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Technical analysis trends SOUTHERN COMPANY
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 67,34 $
Average target price 67,88 $
Spread / Average Target 0,79%
EPS Revisions
Managers and Directors
Thomas A. Fanning Chairman & Chief Executive Officer
Robin B. Boren President
Daniel S. Tucker Chief Financial Officer & Executive Vice President
Martin Bernard Davis Chief Information Officer & Executive VP
Mark Berry Vice President-Research & Development
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