REGULATORY MATTERS (Tables)

3 Months Ended

Mar. 31, 2020

The recovery balances for certain retail regulatory clauses of the traditional electric operating companies and Southern Company Gas at March 31, 2020 and December 31, 2019 were as follows:



Regulatory Clause	Balance Sheet Line Item	March 31, 2020		December 31, 2019
		(in millions)
Alabama Power
Rate CNP Compliance	Other regulatory liabilities, current	$	35	$	55
	Other regulatory liabilities, deferred	17		7
Rate CNP PPA	Deferred under recovered regulatory clause revenues	37		40
Retail Energy Cost Recovery	Other regulatory liabilities, current	74		32
	Other regulatory liabilities, deferred	22		17
Natural Disaster Reserve	Other regulatory liabilities, current	27		37
	Other regulatory liabilities, deferred	104		113
Georgia Power
Fuel Cost Recovery	Other current liabilities	$	6	$	—
	Other deferred credits and liabilities	163		73
Mississippi Power
Fuel Cost Recovery	Over recovered regulatory clause liabilities	$	25	$	23
Ad Valorem Tax	Other regulatory assets	11		47
	Other regulatory assets, deferred	38		—
Property Damage Reserve	Other regulatory liabilities, deferred	53		54
Southern Company Gas
Natural Gas Cost Recovery	Other regulatory liabilities	$	84	$	74

Cost and Schedule

Georgia Power's approximate proportionate share of the remaining estimated capital cost to complete Plant Vogtle Units 3 and 4 by the expected in-service dates of November 2021 and November 2022, respectively, is as follows:



	(in billions)
Base project capital cost forecast^(a)(b)	$	8.2
Construction contingency estimate	0.2
Total project capital cost forecast^(a)(b)	8.4
Net investment as of March 31, 2020^(b)	(6.2		)
Remaining estimate to complete^(a)	$	2.2


(a)	Excludes financing costs expected to be capitalized through AFUDC of approximately $270 million, of which $36 million had been accrued through March 31, 2020.

(b)

Net of $1.7 billion received from Toshiba under the Guarantee Settlement Agreement and approximately $188 million in related customer refunds.