Retail Electric Revenues was Southern’s largest product and service line in fiscal 2025, bringing in $19.33B of $29.55B (65%).
| Product and Service | FY 2008 | FY 2009 | FY 2010 | FY 2011 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Electric Utilities | — | — | — | — | |||||||||||||
| Retail Electric Revenues | $18.20B | $16.34B | $17.79B | $19.33B | |||||||||||||
| Retail | — | — | — | — | |||||||||||||
| Natural Gas Revenues | $5.96B | — | — | — | |||||||||||||
| Wholesale Revenues | $3.67B | — | — | — | |||||||||||||
| Gas Distribution Operations | — | $4.09B | $3.90B | $4.43B | |||||||||||||
| Natural Gas | — | — | — | — | |||||||||||||
| Wholesale Electric Revenues | — | $2.47B | $2.43B | $2.94B | |||||||||||||
| Wholesale | — | — | — | — | |||||||||||||
| Other Revenues | $732.00M | $949.00M | $1.15B | $1.28B | |||||||||||||
| Other Electric Revenues | — | $792.00M | $896.00M | $953.00M | |||||||||||||
| Other Electric Revenue | — | — | — | — | |||||||||||||
| Wholesale Revenues, Affiliates | — | — | — | — | |||||||||||||
| Gas Marketing Services | $638.00M | $548.00M | $516.00M | $582.00M | |||||||||||||
| Other Gas Revenue | $84.00M | $64.00M | $41.00M | $34.00M | |||||||||||||
| Alternative Revenue Programs | -$5.00M | — | — | — | |||||||||||||
| Total | $29.28B | $25.25B | $26.72B | $29.55B |
Southern brought in $29.55B from its seven product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 10.6% from $26.72B in fiscal 2024. Retail Electric Revenues was the largest at $19.33B (65.4%), ahead of Gas Distribution Operations at $4.43B (15.0%) and Wholesale Electric Revenues at $2.94B (10.0%). The other four lines brought in $2.85B combined.
Compared with fiscal 2024, Wholesale Electric Revenues grew fastest, up 21.0% to $2.94B. Every line above 2% of revenue grew.
Southern stopped reporting Natural Gas Revenues ($5.96B in fiscal 2022) and Wholesale Revenues ($3.67B in fiscal 2022) as separate lines.
Electric Utilities was Southern’s largest segment in fiscal 2025, bringing in $23.78B of $29.55B (80%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2013 | FY 2017 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Electric Utilities | $22.87B | — | $21.60B | $23.78B | |||||||
| Traditional Electric Operating Companies | — | $18.36B | — | — | |||||||
| Traditional Operating Companies | — | — | — | — | |||||||
| Southern Company Gas | $5.96B | — | $4.46B | $5.04B | |||||||
| Gas Distribution Operations | — | $4.11B | — | — | |||||||
| Southern Power | — | $2.19B | — | — | |||||||
| All Other | $593.00M | $718.00M | $843.00M | $893.00M | |||||||
| Gas Marketing Services | — | — | — | — | |||||||
| All Other Segments | — | — | — | — | |||||||
| Wholesale Gas Services | — | — | — | — | |||||||
| Gas Pipeline Investments | — | $32.00M | — | — | |||||||
| Corporate Elimination | — | — | — | — | |||||||
| Eliminations | -$149.00M | -$165.00M | -$178.00M | -$161.00M | |||||||
| Intersegment Eliminations | — | — | — | — | |||||||
| Intersegment Elimination | — | — | — | — | |||||||
| Total | $29.28B | $25.24B | $26.72B | $29.55B |
Southern brought in $29.55B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 10.6% from $26.72B in fiscal 2024. Electric Utilities was the largest at $23.78B (80.5%), ahead of Southern Company Gas at $5.04B (17.1%) and All Other at $893.00M (3.0%).
Compared with fiscal 2024, Southern Company Gas grew fastest, up 13.2% to $5.04B. Every segment above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these segments grew from $29.28B to $29.55B, a compound annual growth rate of 0.3%. Electric Utilities' share of the total rose from 78.1% to 80.5%.
Southern stopped reporting Traditional Electric Operating Companies ($18.36B in fiscal 2023), Gas Distribution Operations ($4.11B in fiscal 2023), Southern Power ($2.19B in fiscal 2023) and one other as separate segments. The total is net of Eliminations, which took $161.00M off revenue in fiscal 2025.
Georgia Power was Southern’s largest revenue line in fiscal 2025, bringing in $12.63B of $29.80B (42%).
| Legal Entity | FY 2008 | FY 2009 | FY 2018 | FY 2019 | FY 2020 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Traditional Operating Companies | — | — | — | |||||
| Georgia Power | $10.13B | $11.92B | $12.63B | |||||
| Alabama Power | $7.23B | $7.62B | $8.24B | |||||
| Southern Company Gas | $4.60B | $4.34B | $5.04B | |||||
| Southern Co Gas | — | — | — | |||||
| Southern Power | $1.63B | $1.45B | $2.20B | |||||
| Mississippi Power | $1.46B | $1.48B | $1.70B | |||||
| Gulf Power | — | — | — | |||||
| Consolidation Eliminations | — | — | — | |||||
| Total | $25.05B | $26.81B | $29.80B |
Southern brought in $29.80B from its five revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 11.2% from $26.81B in fiscal 2024. Georgia Power was the largest at $12.63B (42.4%), ahead of Alabama Power at $8.24B (27.6%) and Southern Company Gas at $5.04B (16.9%). The other two revenue lines brought in $3.89B combined.
Compared with fiscal 2024, Southern Power grew fastest, up 52.1% to $2.20B. Every revenue line above 2% of revenue grew. From fiscal 2023 to 2025, combined revenue from these revenue lines grew from $25.05B to $29.80B, a compound annual growth rate of 9.1%. Georgia Power's share of the total rose from 40.4% to 42.4%.
Southern (SO) reports its revenue by product and service, by segment and by legal entity. In fiscal 2025, Retail Electric Revenues was its largest product and service line, bringing in $19.33B (65.4% of the total), followed by Gas Distribution Operations at $4.43B (15.0%).
Retail Electric Revenues was Southern's largest product and service line in fiscal 2025, bringing in $19.33B, or 65.4% of the $29.55B total across its seven product and service lines.
Electric Utilities was Southern's largest segment in fiscal 2025, bringing in $23.78B, or 80.5% of the $29.55B total across its four segments.
Georgia Power was Southern's largest revenue line in fiscal 2025, bringing in $12.63B, or 42.4% of the $29.80B total across its five revenue lines.
Among Southern's product and service lines that make up at least 2% of revenue, Wholesale Electric Revenues grew fastest in fiscal 2025, up 21.0% from $2.43B to $2.94B.
Every figure comes from Southern's annual financial filings, as reported. Each line keeps the name Southern gives it, and years follow its fiscal calendar.
Southern's revenue by product and service goes back to fiscal 2008, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.