2022 Sustainability Summary - Flipbook - Page 9
Spotlight: Policy Engagement
and Advocacy
As a leading energy company serving many
communities through our subsidiaries, it is
important to Southern Company’s business success
to participate in the political process. Having
constructive relationships with policymakers allows
us to deliver clean, safe, reliable and affordable
energy to our customers.
Nuclear Energy Institute and American Gas Association
to help shape the historic clean energy legislation.
The primary lens we used to evaluate proposals was
whether and how they furthered an affordable, reliable
transition to net zero for our customers. Core provisions
for which we advocated include:
→ Extension of investment tax credits (ITCs) and
production tax credits (PTCs) for wind and solar
projects;
→ Energy storage ITCs; and
The Inflation Reduction Act of 2022 (IRA), signed into
law on August 16, 2022, includes nearly $400 billion
in federal funding to clean energy, with the goal
of substantially lowering the United States’ GHG
emissions by the end of this decade. The funds will be
delivered through a mix of tax incentives, grants and
loan guarantees, which have the potential to provide
substantial benefits to our customers and communities
as we seek to reach net zero by 2050.
As this historic legislation was under development,
Southern Company engaged with policymakers at the
federal and state levels to provide insights on various
proposals. We worked with the Administration, Senate
and House Leadership, Senate Finance Committee and
House Ways and Means Committee to evaluate the
feasibility and durability of recommended policies.
We also utilized our memberships in third-party
organizations such as the Edison Electric Institute,
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2022 Sustainability Summary
→ Extension and expansion of the U.S. Internal
Revenue Code’s Section 45Q Carbon Capture
Utilization and Sequestration tax credit
Southern Company and our operating companies will
be working in the months and years ahead to leverage
key provisions contained in the IRA, as well as the
Infrastructure Investment and Jobs Act (IIJA) of 2021, to
bring clean, safe, reliable and affordable energy benefits
to our customers.
Learn more
