U.S. Secretary of Energy Chris Wright today announced the Department of Energy’s (DOE) Office of Energy Dominance Financing (EDF) has closed a historic $26.5 billion loan package to deliver over $7 billion in electricity cost savings to millions of customers in Georgia and Alabama.
In accordance with President Trump’s Executive Order, Unleashing American Energy, this unprecedented loan package will support two wholly owned subsidiaries of Southern Company. Funded under President Trump’s Working Families Tax Cut, the investment will lower American energy costs, create thousands of jobs, and increase grid reliability in Georgia and Alabama.
“Thanks to President Trump and the Working Families Tax Cut, the Energy Department is lowering energy costs and ensuring the American people have access to affordable, reliable, and secure energy for decades to come,” said Secretary Wright. “The President has been clear: America must reverse the energy subtraction agenda of past administrations and add more reliable power generation to our electrical grid. These loans will not only lower energy costs but also create thousands of jobs and increase grid reliability for the people of Georgia and Alabama.”
The two loans will build or upgrade over 16 gigawatts (GW) of firm reliable power to the electrical grid. This includes 5 GW of new gas generation, 6 GW in nuclear improved through uprates and license renewals, hydropower modernization, battery energy storage systems and over 1,300 miles of transmission and grid enhancement projects.
These loans represent the largest government investment aimed at directly lowering consumer energy costs and increasing grid reliability. Once all funds are received through the program, the loans are estimated to reduce Southern Company’s interest expenses by over $300 million per year, helping expedite lower electricity costs for customers.
Southern Company is among the first utilities working with the DOE and the Trump Administration to restore American energy dominance through common-sense energy investments. In 2025, Southern Company announced their plans to enact multiyear rate freezes.
DOE remains committed to setting a new standard for government energy financing, ensuring that loans deliver affordable, reliable, and secure energy for the American people.
From the Southern Company:
Southern Company receives historic Department of Energy $26.5 billion loan guarantees to increase grid reliability
Investments to create an estimated $7 billion in benefits for Southern Company customers, helping lower energy costs and strengthen the grid, while advancing the president’s energy dominance and affordability agenda
Customers across Alabama and Georgia are set to benefit from a historic U.S. government investment into energy infrastructure and grid reliability. Southern Company’s subsidiaries, Georgia Power and Alabama Power, have received a loan package of up to $26.54 billion from the Department of Energy’s Office of Energy Dominance Financing (EDF). Over the approximately 30-year term of the loans, customers are expected to recognize estimated savings of $7 billion.
Southern Company’s vertically integrated, state regulated‑model provides an orderly and transparent framework for working with regulators to deploy essential energy infrastructure investments – like those supported by the EDF loans for the benefit of customers. Under these new EDF loans, Southern Company subsidiaries will be among the first to take advantage of the funding provided by President Trump’s Energy Dominance Financing Program created by the Working Families Tax Cut and will finance a portfolio of projects across its Southeastern service territory.
“These investments will support the extraordinary and transformative projected growth we’re seeing across our company. These loans will help lower the cost of investments in our grid that will enhance reliability and resilience for the benefit of our customers,” said Chris Womack, chairman, president and CEO of Southern Company. “At Southern Company, we are focused on serving growth while maintaining rate stability and driving long-term savings for customers. We believe the actions we’re taking today will leave an enduring, positive impact on generations to come. We thank President Donald J. Trump and U.S. Department of Energy Secretary Chris Wright for their leadership and support of American energy infrastructure and the millions of customers we are privileged to serve.”
These essential energy infrastructure investments include power from natural gas, nuclear uprates and license extensions, hydropower and battery energy storage, as well as transmission system improvements and grid enhancements to help provide safe, reliable and affordable energy to Alabama Power and Georgia Power’s combined 4.3 million customers.
Financial draws from the EDF loans announced today are subject to satisfaction of conditions and may be made through September 15, 2033.
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