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    Does Southern (SO) Tie Regulated Growth to Clean Energy With New CARES CIR Program?

    Simply Wall St·06/27/2026 04:19:41
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    • In recent days, Southern Company outlined plans for its late-July 2026 second-quarter earnings release while its Georgia Power unit opened enrollment for the CARES CIR clean and renewable energy subscription program approved under the 2025 Integrated Resource Plan.
    • This combination of upcoming earnings disclosure and expanded customer-driven renewable offerings highlights how Southern is tying regulated growth to cleaner power solutions for large users.
    • Next, we will examine how this new CARES CIR renewable subscription option may influence Southern’s existing investment narrative and outlook.

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    Southern Investment Narrative Recap

    To own Southern, you need to be comfortable with a large, mostly regulated capital plan that leans on constructive regulators, steady load growth, and continued access to equity and debt markets. The latest earnings expectations and Georgia Power’s new CARES CIR program do not materially change that near term, but they sit alongside the at the market equity filing as the key short term catalyst and a reminder that dilution and margin pressure remain central risks.

    The CARES CIR clean and renewable energy subscription program is most relevant here because it ties new customer driven renewable projects directly into Southern’s regulated growth story. As large commercial and industrial users subscribe and identify projects, investors will likely focus on how effectively Southern can translate that incremental capital spending into approved rate base, while balancing the rising equity needs embedded in its US$76,000,000,000 five year plan.

    Yet against this seemingly supportive backdrop, investors should still pay close attention to how much incremental equity Southern may need to issue through 2029...

    Read the full narrative on Southern (it's free!)

    Southern's narrative projects $35.3 billion revenue and $6.3 billion earnings by 2029. This requires 5.4% yearly revenue growth and about a $1.9 billion earnings increase from $4.4 billion today.

    Uncover how Southern's forecasts yield a $101.34 fair value, a 4% upside to its current price.

    Exploring Other Perspectives

    SO 1-Year Stock Price Chart
    SO 1-Year Stock Price Chart

    Three fair value estimates from the Simply Wall St Community range from about US$5 to just over US$101 per share, reflecting very different views. Set against Southern’s larger equity funded capital plan, this spread underlines why you may want to compare several perspectives before forming a view on its future performance.

    Explore 3 other fair value estimates on Southern - why the stock might be worth less than half the current price!

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.