{"id":20107,"date":"2018-05-07T13:02:48","date_gmt":"2018-05-07T17:02:48","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/?p=20107"},"modified":"2018-05-07T13:02:48","modified_gmt":"2018-05-07T17:02:48","slug":"southern-company-stockholder-meeting-2018-05-23","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2018\/05\/southern-company-stockholder-meeting-2018-05-23.html","title":{"rendered":"Southern Company Stockholder Meeting 2018-05-23"},"content":{"rendered":"

\r\nThis year the Southern Company\r\nannual report<\/a> says increased energy revenues were “primarily due\r\nto increases in renewable energy sales”, yet Southern Power is selling off\r\na third interest in its solar facilities.\r\nWhy? To pay off debt from its failed Big Bet on Plant Vogtle nukes,\r\nand its new Big Bet on stranded assets in natural gas pipelines.\r\nI don’t think the future lies that way, Tom Fanning, abandoning solar power\r\nand getting in bed with Sabal Trail.\r\n

\r\nWhen:<\/strong>\r\n10AM Wednesday, May 23, 2018\r\n
\r\n9AM breakfast\r\n

\r\nWhere:<\/strong>\r\nThe Lodge Conference Center at Callaway Gardens,\r\n
\r\n4500 Southern Pine Drive, Pine Mountain, Georgia 31822\r\n

\r\nWhat:<\/strong>\r\nSouthern Company Annual Stockholder Meeting<\/a>\r\n

\r\n\r\n\"Facilities<\/a>\r\n
\r\nFacilities in Operation or Development as of\r\n\r\nMarch 20, 2018, Annual Report<\/a>\r\n<\/p>\r\n

\r\nWhy would Southern Company sell off the assets that generated the most increase in revenue? On page 46:\r\n\r\n\r\n

\r\n

\r\nIn 2017, wholesale revenues increased $500 million, or 26.0%, as\r\ncompared to the prior year due to a $433 million increase in energy\r\nrevenues and a $67 million increase in capacity revenues, primarily\r\nat Southern Power. The increase in energy revenues was primarily due\r\nto increases in renewable energy sales arising from new solar and\r\nwind facilities and non-PPA revenues from short-term sales. The\r\nincrease in capacity revenues was primarily due to a PPA related to\r\nnew natural gas facilities and additional customer capacity\r\nrequirements.\r\n<\/p>\r\n<\/blockquote>\r\n

\r\nOn page 8, SO brags about a 1 megawatt solar facility at the new Mercedes-Benz Stadium in Atlanta:\r\n

\r\n

\r\nGeorgia Power’s solar installation at MercedesBenz Stadium helps the\r\nfacility achieve its goal of 1.6 million kilowatt hours of energy\r\nper year from on-site solar generation.\r\n<\/p>\r\n<\/blockquote>\r\n

\r\nWhy aim so low?\r\n

\r\nAnd what about this microgrid material on page 17:\r\n

\r\n

\r\nLocally-sourced power to supplement the grid\r\n<\/H4>\r\n

\r\nReynolds Landing is powered both by the traditional electric grid,\r\nas well as a community-scale power system called a\r\n“microgrid,” which is composed of solar panels, battery\r\nstorage and back-up generation. With the capacity to generate more\r\nthan 600,000 kilowatt hours of energy annually, the microgrid can\r\npotentially power the entire community, if needed.\r\n<\/p>\r\n

\r\nOn Atlanta’s Upper West Side, Georgia Power is creating a similar\r\ntownhome community, Altus at the Quarter, where power from the grid\r\nis supplemented by rooftop solar installations and in-home battery\r\nstorage.\r\n<\/p>\r\n

\r\nEach of these real-world research and development projects provides\r\ninsight into the effectiveness of emerging energy technologies and\r\nhow high-performance homes will be built in the future.\r\n<\/p>\r\n<\/blockquote>\r\n

\r\nOh, no, backpedaling: Southern Company is back into “research”\r\nabout “the future” when solar power is here right now.\r\n

\r\nEven worse, on page 36:\r\n

\r\n