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MarketScreener Homepage  >  Equities  >  Nyse  >  Southern Company    SO

SOUTHERN COMPANY

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Southern : Georgia Power Offering Special Payment Plan for Past-Due Accounts

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06/16/2020 | 02:50pm EDT

By Chris Wack

 

Southern Co.'s Georgia Power said Tuesday it is offering a special payment plan to help customers with past-due account balances accumulated during the coronavirus pandemic.

The power company said customers who enroll will be able to pay past-due balances over a six-month timeframe between October 2020 and March 2021 with no late fees.

Georgia Power said the suspension of disconnections has also been extended until July 15 to continue assisting customers through the impacts of Covid-19.

In addition to the special payment plan, Georgia Power is offering its PrePay customers the ability to make payments for current energy usage and have a portion of their payments go toward their outstanding balance. No late fees will be charged if outstanding balances are paid before April 2021. For customers not enrolled in PrePay, Georgia Power customers with past-due account balances may be eligible to switch to the PrePay-rate plan. Customers can sign up by July 15 with no deposit to take advantage of its special provision for paying outstanding balances with no late fees if paid before April 2021.

The Public Service Commission also recently approved Georgia Power's plan to reduce its fuel rates by 17.2% and total billings by $740 million over a two-year period. The implementation of a special interim reduction will provide customers additional relief during the pandemic through even lower fuel rates over the upcoming summer months. The lower fuel rate and special interim reduction will lower the total bill of a typical residential customer using an average of 1,000 kilowatt-hours by a total of $10.26 a month from June through September 2020.

 

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

 


Stocks mentioned in the article
ChangeLast1st jan.
SOUTHERN COMPANY -0.39% 60.61 Delayed Quote.-4.85%
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Financials (USD)
Sales 2020 21 315 M - -
Net income 2020 3 202 M - -
Net Debt 2020 49 943 M - -
P/E ratio 2020 19,8x
Yield 2020 4,20%
Capitalization 64 012 M 64 012 M -
EV / Sales 2020 5,35x
EV / Sales 2021 5,28x
Nbr of Employees 27 943
Free-Float 99,8%
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Technical analysis trends SOUTHERN COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Average target price 60,44 $
Last Close Price 60,61 $
Spread / Highest target 10,5%
Spread / Average Target -0,27%
Spread / Lowest Target -20,8%
EPS Revisions
Managers
NameTitle
Thomas A. Fanning Chairman, President & Chief Executive Officer
Andrew W. Evans Chief Financial Officer & Executive Vice President
Mark Berry Head-Research & Development
Donald M. James Independent Director
William G. Smith Independent Director
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