Southern, Singularity Partner for Energy Transparency

Southern Company SO, one of the largest utilities in the United States, has joined forces with Singularity Energy, a cutting-edge tech platform, in a transformative partnership aimed at revolutionizing energy consumption insights.

This collaboration represents a significant step toward improving transparency and sustainability in the energy sector. It aims to provide customers with easy-to-understand information on their energy mix, including the hourly carbon footprint of their electricity consumption.

The Vision of Collaboration

SO, a pillar in the energy industry committed to sustainable practices, seeks to empower consumers with comprehensive data on their energy usage. On the other hand, Singularity Energy, renowned for its expertise in energy systems and carbon accounting, brings crucial capabilities to the table. Together, the companies aim to provide detailed insights into customers' energy mixes, including real-time carbon footprint calculations.

Leveraging Expertise for Environmental Impact

Singularity Energy's platform integrates SO's extensive data on power plant operations and consumer energy patterns. This synergy allows for robust reporting that not only meets regulatory standards but also empowers consumers to make informed decisions about their environmental impact.

Southern Company's Commitment to Sustainability

A Leader in Clean Energy Technology: SO has positioned itself as a leader in clean energy innovation. By partnering with forward-thinking entities like Singularity Energy, SO highlights its dedication to delivering reliable, affordable and sustainable energy solutions.

Driving Toward Net-Zero Emissions: With a bold commitment to achieving net-zero greenhouse gas emissions by 2050, SO is leveraging clean energy sources and cutting-edge technologies. This strategic focus not only aligns with global sustainability goals but also enhances operational efficiency and customer satisfaction.

Addressing Customer Needs

Empowering Customers Through Transparency: The partnership with Singularity Energy enables Southern Company to bridge the gap between energy consumption and environmental impact. By getting clear insights into carbon footprints, customers can proactively manage and reduce their emissions.

Collaborative Initiatives With Government and Industry: SO's collaboration with the U.S. General Services Administration also exemplifies its proactive approach to sustainability. Together, these organizations are developing systems to monitor and report clean energy usage across federal facilities, setting a benchmark for public-private partnerships in the energy sector.

Conclusion

The collaboration between SO and Singularity Energy represents a key moment in the quest for sustainable energy solutions. By combining expertise in energy systems and software development, the companies are not only meeting current regulatory demands but also opening the way for a transparent and sustainable energy future.

Zacks Rank and Key Picks

Currently, SO carries a Zacks Rank #3 (Hold).

Investors interested in the utility sector might look at some better-ranked stocks like California Water Service Group CWT and Primo Water Corporation PRMW, each sporting a Zacks Rank #1 (Strong Buy) and Atmos Energy Corporation, holding a Zacks Rank #2 (Buy), at present.

California Water Service Group: CWT is worth approximately $2.83 billion. It currently pays a dividend of $1.12 per share, or 2.29%, on an annual basis.

CWT offers water utility and other related services in California, Washington, New Mexico, Hawaii and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, as well as for fire protection services.

Primo Water Corporation: Primo is a leading pure-play water solutions provider in North America and Europe. The company operates largely under a recurring razor/razorblade revenue model.

PRMW currently pays a dividend of 36 cents per share, or 1.7%, on an annual basis. In the past year, its shares have risen 61.3%.

Atmos Energy Corporation: ATO, together with its subsidiaries, engages in the regulated natural gas distribution and pipeline and storage businesses in the United States.

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