| Market Capitalization (Millions $) |
98,403 |
| Shares
Outstanding (Millions) |
1,098 |
| Employees |
28,600 |
| Revenues (TTM) (Millions $) |
29,117 |
| Net Income (TTM) (Millions $) |
3,144 |
| Cash Flow (TTM) (Millions $) |
299 |
| Capital Exp. (TTM) (Millions $) |
3,544 |
The Southern Company
Nature of Southern Company Business
Southern Company, incorporated in Delaware on November 9, 1945, operates as a major energy provider in the southeastern United States. It is domesticated under the laws of Georgia and qualified to conduct business as a foreign corporation in Alabama. Southern Company wholly owns several public utility subsidiaries, namely Alabama Power, Georgia Power, Gulf Power, Mississippi Power, and Savannah Electric. These retail operating companies provide electric service across Alabama, Georgia, Florida, Mississippi, and Georgia, respectively.
Retail Operating Companies
1. Alabama Power: Established in Alabama on November 10, 1927, through a merger of earlier power companies, Alabama Power has had a continuous history since its predecessors founding in 1906.
2. Georgia Power: Founded in Georgia on June 26, 1930, Georgia Power became operational in Alabama in 1948.
3. Gulf Power: Initially organized in Maine in 1925, Gulf Power started operations in Florida in 1926 and later extended to Mississippi and Georgia.
4. Mississippi Power: Incorporating on July 12, 1972, Mississippi Power merged with an earlier power company, which itself had roots tracing back to 1924.
5. Savannah Electric: Founded in Georgia, Savannah Electrics charter was granted on August 5, 1921.
Infrastructure and Operations
The transmission facilities of these retail operating companies are interconnected through high-voltage lines, enabling capacity exchanges and enhancing reliability. They also maintain operating contracts with other utilities, supporting both reliability and efficiency in power supply. These companies are members of the Southeastern Electric Reliability Council (SERC), further contributing to the stability of the electrical grid.
Southern Power
Southern Power is a subsidiary focused on wholesale generation, constructing and managing electricity generation facilities. It sells power under long-term contracts, including Power Purchase Agreements (PPAs), to both independent wholesale purchasers and its retail operating companies. Southern Power operates under Federal Energy Regulatory Commission (FERC) regulations, differing from traditional state utility regulations.
Market Challenges
Increased competition and restructuring in the electric utility sector pose challenges to Southern Company and its subsidiaries. The potential for retail competition, asset impairment, loss of customers, reduced profit margins, and difficulties in recovering costs could significantly impact their financial performance. The company must navigate evolving legislation and regulatory changes, which can alter the competitive landscape and influence its operations and profitability. The industrys wholesale level competition has also intensified due to federal policy changes.
As Southern Company continues to adapt to these dynamics, it remains focused on reliability and efficiency in providing energy to its customers across several states.
Company Address: 30 Ivan Allen Jr. Boulevard, N.W. Atlanta 30308 GA
Company Phone Number: 506-5000 Stock Exchange / Ticker: NYSE SO
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2.01% 