Investor Presentaiton
$55B
State-Regulated Electric Utilities Overview
Strong projected invested capital growth driven
by modernization and resilience initiatives
Projected 5% Annual Growth
$70B
Projected Capital Investment
Composition (excluding Vogtle)
2022 - 2026
(Consistent with Base Capital Investment Plan)
2021
2022
2023
2024
2025
2026
15%
15%
$31B
54%
2021
Customers
2021 Invested
Allowed Retail
Capital¹
Equity Ratio
Georgia Power
2.7M
$31.0B
56%2
Alabama Power
1.5M
$20.7B
55%³
Mississippi Power
0.2M
$3.4B
55%4
•
Projected retail electric sales growth flat to slightly positive with projected
customer growth of ~1%
• Focused on mitigating inflation of O&M over time as part of overall business
modernization initiatives
14%
2%
Grid Reliability and Resiliency
Generation Modernization
Environmental / Ash Pond Closures
Generation Maintenance
Nuclear Fuel & Other
1Invested capital amounts based on year-end 2021
2Approximately 56% at end of 2021
3Approximately 53% at end of 2021; plan to achieve 55% by end of 2025
4Approximately 55% at end of 2021
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