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Southern Company: Powering the Future
Christian Kaps, Hise Gibson, Alicia Dadlani, Ai-Ling Jamila Malone
Harvard Business School Case 626-056, 2025
Abstract
In 2025, Southern Company faced an inflection point as electricity demand in Georgia surged at its fastest pace in decades, driven by hyperscale data centers, manufacturing growth, and electrification. CEO Chris Womack and his leadership team had to determine how to meet projected load growth equivalent to adding ten nuclear reactors—while balancing cost, reliability, speed, emissions, and regulatory scrutiny. Following the costly and delayed completion of the Vogtle nuclear expansion, the company confronted difficult trade-offs: expand natural gas capacity to meet near-term demand, pursue additional nuclear investment despite construction risk, or adopt a diversified all-of-the-above strategy. As Georgia Power prepared its updated Integrated Resource Plan for state regulators, Southern had to decide which technologies to prioritize, how to allocate $70+ billion in capital, and which risks it was willing to bear in powering the region's future.
Teaching Note 626-091