Southern Co. SO, -0.41% subsidiary Georgia Power said there are more than 200,000 customers without power in Georgia as of 5:30 a.m. ET, in the wake of Hurricane Michael. The utility said it were also more than 2,700 cases of damage, including broken poles and lines, that company is working to repair. The damage and outages are concentrated in middle, south and west Georgia. “As the storm clears the state, the company has secured additional resources and is prepared to respond with approximately 3,900 personnel from the company, other Southern Company operating companies and assisting utilities ready to restore power as quickly and safely as possible following the storm,” the company said in a statement. Southern’s stock, which was still inactive in premarket trade, has shed 8.0% over the past three months, while the SPDR Utilities Select Sector ETF XLU, -0.55% has gained 2.9% and the S&P 500 SPX, -3.29% had inched up 0.4%.
Have breaking news sent to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.