Condensed Consolidated Balance Sheets (Unaudited) - SPC - USD ($) $ in Millions	Jun. 30, 2025	Dec. 31, 2024
Current Assets:
Cash and cash equivalents	$ 1,264	$ 1,070
Receivables —
Customer accounts, net and Affiliated	2,301	2,228
Other	553	597
Materials and supplies	2,138	2,178
Other current assets	439	476
Total current assets	10,801	10,694
Property, Plant, and Equipment:
In service	140,888	137,143
Less: Accumulated depreciation	41,703	40,126
Plant in service, net of depreciation	99,185	97,017
Construction work in progress	7,686	6,389
Total property, plant, and equipment	108,141	104,689
Other Property and Investments:
Total other property and investments	10,363	10,198
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	1,405	1,386
Other deferred charges and assets	1,390	1,467
Total deferred charges and other assets	19,548	19,599
Total Assets	148,853	145,180
Current Liabilities:
Securities due within one year	5,365	4,718
Notes payable	988	1,338
Accounts payable —
Accrued interest	775	682
Operating lease obligations	200	200
Other current liabilities	1,041	1,100
Total current liabilities	14,570	15,993
Long-term Debt	62,983	58,768
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	12,294	11,730
Accumulated deferred ITCs	2,017	2,056
Operating lease obligations, deferred	1,288	1,253
Other deferred credits and liabilities	1,359	1,350
Total deferred credits and other liabilities	33,958	33,745
Total Liabilities	111,511	108,506
Total Stockholders' Equity (See accompanying statements)	37,342	36,674
Total Liabilities and Stockholders' Equity	148,853	145,180
SOUTHERN POWER CO
Current Assets:
Cash and cash equivalents	143	159
Receivables —
Other	87	90
Materials and supplies	111	107
Other current assets	98	82
Total current assets	667	599
Property, Plant, and Equipment:
In service	15,005	14,961
Less: Accumulated depreciation	4,789	4,540
Plant in service, net of depreciation	10,216	10,421
Construction work in progress	658	317
Total property, plant, and equipment	10,874	10,738
Other Property and Investments:
Intangible assets, net of amortization	213	223
Net investment in sales-type leases	140	143
Total other property and investments	353	366
Deferred Charges and Other Assets:
Operating lease right-of-use assets, net of amortization	483	484
Prepaid LTSAs	194	234
Other deferred charges and assets	246	232
Total deferred charges and other assets	923	950
Total Assets	12,817	12,653
Current Liabilities:
Securities due within one year	1,485	500
Notes payable	200	0
Accounts payable —
Accrued taxes	27	18
Accrued interest	21	26
Operating lease obligations	29	29
Other current liabilities	74	96
Total current liabilities	1,988	849
Long-term Debt	1,262	2,180
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes	711	712
Accumulated deferred ITCs	1,412	1,440
Operating lease obligations, deferred	511	511
Other deferred credits and liabilities	241	279
Total deferred credits and other liabilities	2,875	2,942
Total Liabilities	6,125	5,971
Total Stockholders' Equity (See accompanying statements)	6,692	6,682
Total Liabilities and Stockholders' Equity	12,817	12,653
SOUTHERN POWER CO | Nonrelated Party
Receivables —
Customer accounts, net and Affiliated	184	122
Accounts payable —
Affiliated and Other	74	100
SOUTHERN POWER CO | Related Party
Receivables —
Customer accounts, net and Affiliated	44	39
Accounts payable —
Affiliated and Other	$ 78	$ 80