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Southern Company
From Wikipedia, the free encyclopedia
Southern Company (NYSE: SO), headquartered in Atlanta, Georgia, is a vertically-integrated electric utility holding company. Southern Company is currently the eigth largest utility company in the world, the second largest in the U.S. and the largest in the southeastern U.S. It owns and operates over 40,000 megawatts of generation capacity and serves 4.3 million customers in Alabama, Georgia, Florida and Mississippi.
Among Southern's reputative highlights are its dedication to customer service, electricity rates about 15% below the national average 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.
Southern Company owns the following companies:
- Alabama Power
- Georgia Power
- Gulf Power
- Mississippi Power
- Southern Company Services - originally named Southern Services, Inc.
- Southern Power - wholesale generation
- Southern Company Gas
- SouthernLINC Wireless
- Southern Telecom - wholesale fiber optic communications
- Southern Nuclear
Southern Company generates more than 40,000 megawatts, delivered to 4.3 million customers in Georgia, Alabama, Mississippi and Florida.
Southern Company is the majority owner and operator of the Farley, Hatch and Vogtle nuclear power plants.
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 would be sold to a French company, EDF Energy.
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