Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2021

The recovery balances for certain retail regulatory clauses of the traditional electric operating companies and Southern Company Gas at September 30, 2021 and December 31, 2020 were as follows:


Regulatory Clause	Balance Sheet Line Item	September 30, 2021		December 31, 2020
		(in millions)
Alabama Power
Rate CNP Compliance	Other regulatory liabilities, current	$	—	$	28
	Other regulatory liabilities, deferred	24		—

Rate CNP PPA	Other regulatory assets, deferred	88		58
Retail Energy Cost Recovery	Other regulatory liabilities, current	—		18

	Other regulatory assets, current	79		—
	Other regulatory assets, deferred	6		—

Natural Disaster Reserve	Other regulatory liabilities, deferred	36		77
Georgia Power
Fuel Cost Recovery	Over recovered fuel clause revenues	$	—	$	113
	Other deferred charges and assets	203		—

Mississippi Power
Fuel Cost Recovery	Over recovered regulatory clause liabilities	$	5	$	24
Ad Valorem Tax	Other regulatory assets, current	12		11
	Other regulatory assets, deferred	39		41
Property Damage Reserve	Other regulatory liabilities, deferred	—		4
	Other regulatory assets, deferred	16		—
Southern Company Gas
Natural Gas Cost Recovery(*)	Other regulatory liabilities	$	—	$	88
	Natural gas cost under recovery	432		—
	Other regulatory assets, deferred	79		—

(*)The significant change during the nine months ended September 30, 2021 was primarily driven by an increase in the cost of gas purchased in February 2021 resulting from Winter Storm Uri.

Nuclear Construction Cost and Schedule

Georgia Power's approximate proportionate share of the remaining estimated capital cost to complete Plant Vogtle Units 3 and 4, including contingency, through September 2022 and June 2023, respectively, is as follows:


	(in millions)
Base project capital cost forecast(a)(b)	$	9,342
Construction contingency estimate	137

Total project capital cost forecast(a)(b)	9,479
Net investment at September 30, 2021(b)	(8,159)
Remaining estimate to complete	$	1,320

(a) Includes approximately $570 million of costs that are not shared with the other Vogtle Owners. Excludes financing costs expected to be capitalized through AFUDC of approximately $318 million, of which $169 million had been accrued through September 30, 2021.

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

Schedule of Infrastructure Replacement Programs and Capital Projects

Capital expenditures incurred under specific infrastructure replacement programs during the first nine months of 2021 were as follows:


Utility	Program	Nine Months Ended September 30, 2021
		(in millions)
Nicor Gas	Investing in Illinois	$	307
Virginia Natural Gas	Steps to Advance Virginia's Energy	36
Total		$	343