Southern Company

Infobox_Company
name = Southern Company

type = Public (nyse|SO)
slogan = Energy to Serve Your World.
foundation = 1945
location = Atlanta, Georgia, USA
industry = Utilities
revenue = profit$15.4 billion USD (2007)
net_income = profit$1.73 billion USD (2007) [http://www.southerncompany.com/aboutus/figures.asp Southern Company Facts and Figures] ]
num_employees = 26,742 (2008)cite web |url=http://zenobank.com/index.php?symbol=SO&page=quotesearch |title=Company Profile for Southern Co (SO) |accessdate=2008-10-06]
homepage = [http://www.southerncompany.com/ southerncompany.com/] |

Southern Company (nyse|SO), headquartered in Atlanta, Georgia, is currently the eighth largest utility company in the world Fact|date=September 2008, the second largest in the U.S. Fact|date=September 2008 and the largest in the southeastern U.S. It owns and operates over 42,000 megawatts of generation capacity and serves 4.3 million customers in Alabama, Georgia, Florida and Mississippi. [ [http://www.southerncompany.com/aboutus/about.asp] Southern Company; Megawatts and Markets]

Overview

Among Southern's highlights are its dedication to customer service, electricity rates about 17% below the national average [ [http://investor.southerncompany.com/releasedetail.cfm?ReleaseID=271219] Southern Company Press Release; Southern Company reports steady third quarter earnings] and its quick response to storm damage repairs. One of the most glorifying moments of recent for the company was the way in which it helped the victims of Hurricane Katrina, many of whom live inside its service territory.

Recent issues which have cast Southern in a less positive light include its stance on global climate change and allegations of violating FERC's Standard of Conduct provisions. Southern Power, the company's wholesale electricity marketing subsidiary, has been accused of showing preferential treatment to Georgia Power Company, another Southern subsidiary, when bidding out wholesale contracts. The company has agreed to pay a fine and strengthen the operational distance between its wholesale and retail companies.Fact|found several SEC filings that hinted toward a settlement, but no definitive settlement details|date=May 2008

Southern Company owns the following companies:

*Alabama Power - operating company
*Georgia Power - operating company
*Gulf Power - operating company
*Mississippi Power - operating company
*Southern Company Services - common services (originally named Southern Services, Inc.)
*Southern Power - wholesale generation
*Southern Communications Services (d/b/a SouthernLINC Wireless) - cellular telephone provider
*Southern Telecom - wholesale fiber optic communications
*Southern Nuclear - engineering and operations for nuclear power plants (Southern Company is the majority owner and operator of the Farley, Hatch, and Vogtle nuclear power plants.)

History

Southern Company's earliest predecessors date to the 1920s when Alabama Power, Georgia Power and Mississippi Power joined together under a holding company, Southeastern Power & Light. Following a merger and later breakup due to regulatory changes, in 1945 Alabama Power, Georgia Power, Gulf Power, and Mississippi Power came together as Southern Company. [ [http://www.southerncompany.com/aboutus/history.asp] Southern Company; About Us; History]

Foreign Expansion

In 1995, Southern bought the British South Western Electricity Board. This was the first purchase of a foreign power corporation by a US power corporation. However, in 2003, SWEB was sold to a French company, EDF Energy.

Generation facilities

Southern Company subsidiaries operate hydroelectric, oil/gas, coal, and nuclear generation sources. In 2006, total generation was distributed coal 70%, nuclear 15%, natural gas 13%, and renewable hydroelectric power 2%. [ [http://www.southerncompany.com/planetpower/pdfs/FINAL_Climate%20Report_2007.pdf] Southern Company; Climate Change]

Environment

The Center for Responsive Politics has criticized the Southern Company for large partisan contributions by its employees coincidental to large greenhouse gas emissions. [cite news |first=Leonard |last=Doyle |title=US power company linked to Bush is named in database as a top polluter |url=http://www.independent.co.uk/news/world/americas/us-power-company-linked-to-bush-is-named-in-database-as-a-top-polluter-400561.html |work=The Independent |publisher=independent.co.uk |date=2007-11-16 |accessdate=2008-05-26 ] In addition to such PAC contributions, in 2005 Southern Company itself was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush. [cite news |first=Jim |last=Drinkard |title=Donors get good seats, great access this week |url=http://www.usatoday.com/news/washington/2005-01-16-inauguration-donors_x.htm |publisher=USA Today |date=2005-01-17 |accessdate=2008-05-25 ] [cite news |title=Financing the inauguration |url=http://www.usatoday.com/news/washington/2005-01-16-inaugural-donors_x.htm |publisher=USA Today |date= |accessdate=2008-05-25 ] [cite news |title=Some question inaugural's multi-million price tag |url=http://www.usatoday.com/news/washington/2005-01-14-price_x.htm |publisher=USA Today |date=2005-01-14 |accessdate=2008-05-25 ]

In response to growing public and financial community interest, in recent years the company has issued reports detailing environmental issues in which it is involved and the company's response to those issues such as incorporating emissions controls at generation facilities, funding research for carbon dioxide capture, and working to improve wildfile habitats through conservation groups such as National Wild Turkey Federation, The Nature Conservancy, and the Wildlife Habitat Council. [ [http://www.southerncompany.com/planetpower/index.asp] Southern Company; Planet Power] As given by the 2008 update on key company parameters, highlighted environmental actions include:

*Investing $3.9 billion over the next three years to add additional environmental controls, which will further lower emissions of nitrogen oxides, sulfur dioxide and mercury.
*Selected Plant Daniel in Mississippi as a test site for carbon dioxide geologic storage to learn if the technique can effectively reduce accumulations of greenhouse gases in the atmosphere.
*Opened the nation’s first mercury-controls technology research center in Florida.
*Awarded 93 biodiversity and habitat improvement grants from 2003-2007 through the National Fish and Wildlife Foundation and other partners.

Southern Company has also gained notoriety as a [ [http://www.cbsnews.com/stories/2002/02/25/national/main330498.shtml] ] racist organization. CBS News Correspondant Mark Strassmann reported in 2002 the civil right's era attrocites still practiced at Georgia Power.

ee also

*Horton, Jacob - deceased executive
*List of United States electric companies

Notes

External links

* [http://www.southerncompany.com/ Southern Company] official site
* [http://www.cbsnews.com/stories/2002/02/25/national/main330498.shtml Institutional racism] CBS report on Southern Company's Institutional racism