Dafinchi AI

The Southern Company

SO

Energy & Utilities

2w

Strategic Capital Investment and Regulatory Approvals for 10 GW Generation Plan

Georgia Power filed to certify 8 GW of new generation resources from all-source RFPs, including natural gas, solar, and battery storage, with a final review by Georgia PSC expected later this year.
Georgia Power requested certification for an additional 2 GW of capacity through a supplemental filing, bringing total new generation requests to approximately 10 GW.
Potential incremental regulated capital investment of up to $4 billion through 2029 if the full 10 GW is approved, significantly expanding the company's growth prospects.

The Southern Company

SO

Energy & Utilities

2w

Financial Performance Summary

Commercial and industrial sales rose 3.5% and 2.8% respectively, driven by increased usage and new large load customers, including a 13% increase in data center usage.
Industrial sales growth was strong in transportation and primary metals (both up 6%) and paper (up 16%).
Positive earnings drivers included investments in state-regulated utilities, higher usage, and customer growth, partially offset by milder weather, prior year gains on transmission asset sales, tax credit adjustments, and higher operating costs, interest expense, and depreciation.
Residential sales increased 2.8% year-over-year, supported by over 15,000 new electric customers and higher usage per customer.
Southern Company reported adjusted earnings per share (EPS) of $0.92 for Q2 2025, which was $0.07 above their estimate but $0.18 lower than Q2 2024.
Year-to-date weather normal retail electricity sales were 1.3% higher than the first half of 2024, with 3% growth in Q2 across all customer classes.

The Williams Companies, Inc.

WMB

Energy & Utilities

2w

Financial Performance Summary

Growth CapEx is expected near the high end of guidance at just under $2.9 billion, reflecting accelerated project timelines.
Northeast Gathering & Processing (G&P) business increased by $22 million or 5%, despite the negative impact of the Aux Sable divestiture.
Overall volumes increased across segments, with Gulf gathering volumes up 17% and NGL production up 77%.
The company expects a 9% CAGR in adjusted EBITDA from 2020 through 2025.
Transmission and Gulf business segment improved by $91 million or 11%, driven by expansion projects and higher revenues.
Upstream business showed a $7 million increase, partially offset by lower oil prices.
West segment grew by $22 million or 7%, supported by higher Haynesville volumes and the Rimrock acquisition.
Williams raised its 2025 adjusted EBITDA guidance midpoint by $50 million to $7.75 billion, representing a cumulative $350 million increase since 2024 guidance.
Williams reported an 8% increase in adjusted EBITDA for Q2 2025, reaching $1.808 billion compared to $1.667 billion in Q2 2024.

NextEra Energy, Inc.

NEE

Energy & Utilities

4w

Financial Performance Summary

Adjusted earnings from corporate and other decreased by $0.04 per share in Q2 2025.
Energy Resources added 3.2 gigawatts to its backlog, now totaling nearly 30 gigawatts, with 30% from storage projects.
Energy Resources' adjusted earnings per share increased by $0.11 year-over-year, driven by new investments and growth in renewables and storage portfolios.
FPL's earnings per share increased by $0.02 year-over-year in Q2, driven by nearly 8% growth in regulatory capital employed.
FPL's retail sales increased 1.7% year-over-year, or 2.6% on a weather-normalized basis, supported by strong customer growth.
FPL's return on equity for regulatory purposes is approximately 11.6% for the 12 months ending June 2025.
NextEra Energy reported a 9.4% year-over-year increase in adjusted earnings per share for Q2 2025 and a 9.1% increase for the first six months of 2025.
Wind resource was weaker at 97% of long-term average compared to 104% in Q2 2024, impacting existing clean energy portfolio earnings.

PPL Corporation

PPL

Energy & Utilities

2w

Strategic Investment in Data Center Growth and Infrastructure in Pennsylvania and Kentucky

PPL is actively supporting data center expansion, with over 14.5 GW in advanced development stages and nearly 5 GW publicly announced.
Invested $13 billion in Pennsylvania's grid since 2013, with an additional $7 billion planned through 2028, enabling rapid connection of new data centers.
Projected transmission capital investment for data centers ranges from $750 million to $1.25 billion, with only $400 million included in the current capital plan.
Kentucky's economic development pipeline includes $36 billion in new investments from 2020-2024, with 8.5 GW of potential load, including 5.7 GW from data centers.

CenterPoint Energy, Inc.

CNP

Energy & Utilities

3w

Financial Performance Summary

CenterPoint Energy reported diluted GAAP earnings per share of $0.30 and non-GAAP EPS of $0.29 for Q2 2025, compared to $0.36 non-GAAP EPS in Q2 2024.
Equity issuances of $500 million last year, including a $250 million pull forward, resulted in a $0.01 unfavorable variance quarter-over-quarter.
The first half of 2025 non-GAAP EPS is approximately 46% of the midpoint of the full year guidance range of $1.74 to $1.76, in line with expectations.
Through the first half of 2025, $2.4 billion of base capital work was invested, on track to meet the revised 2025 capital investment target of $5.3 billion.
Trailing 12-month adjusted FFO to debt ratio was 14.1% at quarter end, with credit metrics expected to strengthen through the year.
Unfavorable variances included $0.01 from rate recovery netted with depreciation and taxes, $0.03 from O&M due to accelerated vegetation management, and $0.03 from higher interest expense and financing costs.
Weather and usage contributed a favorable $0.01 variance, mainly from Houston Electric's warmer start to 2025 compared to 2024.

Edison International

EIX

Energy & Utilities

2w

Financial Performance Summary

Core EPS variance was primarily driven by higher O&M expense and the net impact of regulatory decisions, while EIX Parent and Other's variance was mainly due to higher interest expense.
Edison International reported second quarter core earnings per share of $0.97 compared to $1.23 a year ago, with the year-over-year comparison impacted by the absence of a final decision in SCE's 2025 general rate case.
SCE continues to book revenues at 2024 authorized levels adjusted for the change in ROE and will record a true-up when it receives a final decision.
SCE reaffirmed its 2025 EPS guidance range of $5.94 to $6.34 and long-term EPS growth expectations of 5% to 7% CAGR through 2028.
The proposed decision in SCE's 2025 DRC would authorize base revenue of $9.8 billion in 2025, increasing to $11 billion by 2028, generally aligning with the current range case rate base forecast.

SR

Energy & Utilities

2w

Strategic Acquisition of Piedmont Natural Gas Tennessee Business

Announced acquisition of Piedmont Natural Gas Tennessee from Duke Energy, adding $900 million to 5-year capital plan.
Transaction aims to increase scale, diversify portfolio, and expand into a high-growth, regulated jurisdiction.
Expected to close in Q1 2026, with regulatory approval sought within 45 days of announcement.
Funding strategy includes a bridge facility, potential sale of nonutility assets, and a balanced mix of debt, equity, and hybrid securities.
Integration expected to leverage existing shared services platform, with a focus on efficiency and long-term EPS growth of 5-7%.

GWH

Energy & Utilities

5d

Financial Performance Summary

Adjusted EBITDA improved nearly 60% compared to Q2 of last year, showing operational leverage.
Cash and cash equivalents improved to $7.2 million by end of July, up from Q2 end.
GAAP cost of revenues decreased 15% quarter-over-quarter, reflecting improved cost control.
GAAP revenue of $2.4 million in Q2 2025, a 294% increase from Q1 2025 driven by final deliveries of Energy Warehouses and Energy Centers.
Net loss improved by 50% year-over-year, indicating progress toward profitability.
Operating expenses fell 35% quarter-over-quarter due to cost reduction efforts and rightsizing.
Secured up to $31 million in new capital, including a $25 million Standby Equity Purchase Agreement (SEPA).

GWH

Energy & Utilities

5d

Strategic Pivot to Long-Duration Energy Storage and Market Focus

ESS has shifted its strategic focus towards long-duration energy storage solutions, emphasizing the Energy Base product as a core growth driver.
The company highlighted the limitations of short-duration storage and lithium-ion technologies, positioning itself as a leader in scalable, safe, and sustainable long-duration storage.
Management noted a significant increase in market demand, with proposal activity exceeding 1.1 gigawatt hours since the Energy Base launch in February.
The company’s relationships with Tier 1 customers and utilities are foundational to its long-term growth strategy in the evolving energy transition market.
ESS’s pivot includes a focus on building a commercial pipeline with a growing number of RFPs and strategic partnerships, signaling a shift from project-based to pipeline-based revenue.
The company aims to convert commercial momentum into multiyear agreements, targeting revenue growth starting in 2026.