-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PSk0YevfRLeluXfAp2hlj/qae92Yx0h1ukHy9mYx/MXMtyD+71bR6KnqgixIBE+N 02d3K4j3Ofcc96iyePds7w== 0000092122-07-000008.txt : 20070125 0000092122-07-000008.hdr.sgml : 20070125 20070125102211 ACCESSION NUMBER: 0000092122-07-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20070125 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20070125 DATE AS OF CHANGE: 20070125 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN CO CENTRAL INDEX KEY: 0000092122 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 580690070 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03526 FILM NUMBER: 07551518 BUSINESS ADDRESS: STREET 1: 30 IVAN ALLEN JR. BLVD., N.W. CITY: ATLANTA STATE: GA ZIP: 30308 BUSINESS PHONE: 4045065000 MAIL ADDRESS: STREET 1: 30 IVAN ALLEN JR. BLVD., N.W. CITY: ATLANTA STATE: GA ZIP: 30308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHERN POWER CO CENTRAL INDEX KEY: 0001160661 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 582598670 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-98553 FILM NUMBER: 07551519 BUSINESS ADDRESS: STREET 1: 600 N 18TH ST. CITY: BIRMINGHAM STATE: AL ZIP: 35291 BUSINESS PHONE: 4045067146 MAIL ADDRESS: STREET 1: 241 RALPH MCGILL BLVD STREET 2: NE BIN 10116 CITY: ATLANTA STATE: GA ZIP: 30308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MISSISSIPPI POWER CO CENTRAL INDEX KEY: 0000066904 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 640205820 STATE OF INCORPORATION: MS FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11229 FILM NUMBER: 07551520 BUSINESS ADDRESS: STREET 1: 2992 WEST BEACH CITY: GULFPORT STATE: MS ZIP: 39501 BUSINESS PHONE: 2288641211 MAIL ADDRESS: STREET 1: 2992 WEST BEACH CITY: GULFPORT STATE: MS ZIP: 39501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GULF POWER CO CENTRAL INDEX KEY: 0000044545 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590276810 STATE OF INCORPORATION: ME FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-31737 FILM NUMBER: 07551521 BUSINESS ADDRESS: STREET 1: ONE ENERGY PLACE CITY: PENSACOLA STATE: FL ZIP: 32520 BUSINESS PHONE: 8504446111 MAIL ADDRESS: STREET 1: ONE ENERGY PLACE CITY: PENSACOLA STATE: FL ZIP: 32520 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEORGIA POWER CO CENTRAL INDEX KEY: 0000041091 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 580257110 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06468 FILM NUMBER: 07551522 BUSINESS ADDRESS: STREET 1: 241 RALPH MCGILL BOULEVARD CITY: ATLANTA STATE: GA ZIP: 30308 BUSINESS PHONE: 4045066526 MAIL ADDRESS: STREET 1: 241 RALPH MCGILL BOULEVARD CITY: ATLANTA STATE: GA ZIP: 30308 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALABAMA POWER CO CENTRAL INDEX KEY: 0000003153 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 630004250 STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03164 FILM NUMBER: 07551523 BUSINESS ADDRESS: STREET 1: 600 N 18TH ST STREET 2: P O BOX 2641 CITY: BIRMINGHAM STATE: AL ZIP: 35291 BUSINESS PHONE: 2052571000 MAIL ADDRESS: STREET 1: 600 N 18TH ST CITY: BIRMINGHAM STATE: AL ZIP: 35291 8-K 1 form8kearnings8k.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) January 25, 2007

Commission File Number	Registrant, State of Incorporation, Address and Telephone Number	I.R.S. Employer Identification No.

1-3526	The Southern Company (A Delaware Corporation) 30 Ivan Allen Jr. Blvd., N.W. Atlanta, Georgia 30308 (404) 506-5000	58-0690070
1-3164	Alabama Power Company (An Alabama Corporation) 600 North 18^th Street Birmingham, Alabama 35291 (205) 257-1000	63-0004250
1-6468	Georgia Power Company (A Georgia Corporation) 241 Ralph McGill Boulevard, N.E. Atlanta, Georgia 30308 (404) 506-6526	58-0257110
0-2429	Gulf Power Company (A Florida Corporation) One Energy Place Pensacola, Florida 32520 (850) 444-6111	59-0276810
001-11229	Mississippi Power Company (A Mississippi Corporation) 2992 West Beach Gulfport, Mississippi 39501 (228) 864-1211	64-0205820
333-98553	Southern Power Company (A Delaware Corporation) 30 Ivan Allen Jr. Blvd., N.W. Atlanta, Georgia 30308 (404) 506-5000	58-2598670

The addresses of the registrants have not changed since the last report.

This combined Form 8-K is furnished separately by six registrants: The Southern Company, Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power Company and Southern Power Company. Information contained herein relating to each registrant is furnished by each registrant solely on its own behalf. Each registrant makes no representation as to information relating to the other registrants.

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02

Results of Operations and Financial Condition

The information in this Current Report on Form 8-K, including the exhibits attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under that Section. Furthermore, such information, including the exhibits attached hereto, shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

On January 25, 2007, The Southern Company (“Southern Company”) issued a press release regarding its earnings for the quarter and year ended December 31, 2006. A copy of this release is being furnished as Exhibit 99.01 to this Current Report on Form 8-K. In addition, certain additional information regarding the financial results for the quarter and year ended December 31, 2006 is being furnished as Exhibits 99.02 through 99.06 to this Current Report on Form 8-K.

Use of Non-GAAP Financial Measures

Exhibits 99.01, 99.02 and 99.03 attached to this Current Report on Form 8-K, in addition to including earnings and earnings per share in accordance with generally accepted accounting principles (“GAAP”) for the quarter and year ended December 31, 2006 and December 31, 2005, also include earnings and earnings per share for such periods excluding the results of Southern Company’s synthetic fuel investments. Southern Company’s synthetic fuel investments generate tax credits as a result of synthetic fuel production. Due to higher oil prices in 2006, such tax credits were partially phased out and one synthetic fuel investment was terminated. As a result, Southern Company’s synthetic fuel investments did not contribute significantly to earnings and earnings per share during 2006. These tax credits will no longer be available after December 31, 2007. Southern Company management uses earnings per share, excluding synthetic fuel earnings, to evaluate the performance of Southern Company’s ongoing business activities. Southern Company believes the presentation of earnings and earnings per share excluding the results of the synthetic fuel investments also is useful for investors because it provides investors with additional information for purposes of comparing Southern Company’s performance for such periods. The presentation of this additional information is not meant to be considered a substitute for financial measures prepared in accordance with GAAP.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this Form 8-K and the exhibits attached hereto is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning results of operations, synthetic fuels earnings, customer and economic growth and Southern Company’s strategies. Southern Company and its subsidiaries caution that

- 1 -

there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company and its subsidiaries; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company’s Annual Report on Form 10-K for the year ended December 31, 2005, and subsequent securities filings, could cause results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory change, including legislative and regulatory initiatives regarding deregulation and restructuring of the electric utility industry and implementation of the Energy Policy Act of 2005, and also changes in environmental, tax and other laws and regulations to which Southern Company and its subsidiaries are subject, as well as changes in application of existing laws and regulations; current and future litigation, regulatory investigations, proceedings or inquiries, including the pending EPA civil actions against certain Southern Company subsidiaries, FERC matters, IRS audits and Mirant-related matters; the effects, extent and timing of the entry of additional competition in the markets in which Southern Company’s subsidiaries operate; variations in demand for electricity, including those relating to weather, the general economy and population and business growth (and declines); available sources and costs of fuels; ability to control costs; investment performance of Southern Company’s employee benefit plans; advances in technology; state and federal rate regulations and the impact of pending and future rate cases and negotiations, including rate actions relating to fuel and storm restoration cost recovery; the performance of projects undertaken by the non-utility businesses and the success of efforts to invest in and develop new opportunities; fluctuations in the level of oil prices; the level of production, if any, by the synthetic fuels operations at Carbontronics Synfuels Investors LP and Alabama Fuel Products LLC for fiscal year 2007; internal restructuring or other restructuring options that may be pursued; potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Southern Company or its subsidiaries; the ability of counterparties of Southern Company and its subsidiaries to make payments as and when due; the ability to obtain new short- and long-term contracts with neighboring utilities; the direct or indirect effect on the business of Southern Company and its subsidiaries resulting from terrorist incidents and the threat of terrorist incidents; interest rate fluctuations and financial market conditions and the results of financing efforts, including Southern Company’s and its subsidiaries’ credit ratings; the ability of Southern Company and its subsidiaries to obtain additional generating capacity at competitive prices; catastrophic events such as fires, earthquakes, floods, hurricanes or other similar occurrences; the direct or indirect effects on Southern Company’s business resulting from incidents similar to the August 2003 power outage in the Northeast; and the effect of accounting pronouncements issued periodically by standard-setting bodies. Southern Company and its subsidiaries expressly disclaim any obligation to update any forward-looking information.

- 2 -

Exhibits

The exhibits hereto contain business segment information for Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power Company and Southern Power Company. Accordingly, this report is also being furnished on behalf of each such registrant.

The following exhibits relate to the quarter and year ended December 31, 2006:

Exhibit 99.01	Press Release.
Exhibit 99.02	Financial Highlights.
Exhibit 99.03	Significant Factors Impacting EPS.
Exhibit 99.04	Analysis of Consolidated Earnings.
Exhibit 99.05	Kilowatt-Hour Sales.
Exhibit 99.06	Financial Overview.

- 3 -

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each of the registrants has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 25, 2007	THE SOUTHERN COMPANY


	By /s/W. Ron Hinson W. Ron Hinson Comptroller

	ALABAMA POWER COMPANY GEORGIA POWER COMPANY GULF POWER COMPANY MISSISSIPPI POWER COMPANY SOUTHERN POWER COMPANY


	By /s/Wayne Boston Wayne Boston Assistant Secretary

- 4 -

GRAPHIC 2 img1.gif begin 644 img1.gif M1TE&.#EAU@!K`'<`,2'^&E-O9G1W87)E.B!-:6-R;W-O9G0@3V9F:6-E`"'Y M!`$`````+`(``@#1`&8`@0```()U8_\D``$"`P+_A(^IR^T/HYRT6B2NWKS[ M#X9`)I;FB::=P*KN"\<@V\KVC=]TG??^[]GQ@,2B,2$<'I=,7%+9C$I-3]KT MBOU4H=FNM[&U?L=D3)A43G?/8K5;RFZ_Y\6XG([/V7?YOFY_YR>(`L@W>)A2 MR(7(N%+8""GR&$GI:%>)R;&7R6EQV0DJ\1E*"A97BKIPFLIZL-K*RN810#M! M&^!P>XN@N]O[NPL`S-M[`%PL?%R[\,NL2Z&(%':AG#OL_&S4=AWD!N]-`% M#.@/7#AT\_[Q.]:0H*E)_P9&15`X$1\QA\/^A0QVTEQ%BPM).G1@T)7'!Q*_ M9129?-H#[KZ7L(%&!3HBE5@F-XM;K&&3=T:H"%T3J52S1U5+)^AY+\2_LSGN_UK8M;:NMXHQYMX6:N*5TL)&! M!\-ZG/)1=H/E"70.DG'T\8@AQC[/-KUPKK:Y/R&,T[QQ^<);LU:WDCGZ[X;= MN?__GP1\A84VW&Z_A:4>>-$=^!Q[`#[(A4F*K4>?1M#1=5B%&#JGF`(0?A@A M;1-:6"`#]O46'&A\[63@2R"^"$N,,LY(8XTVWHACCIS,IY414? MAGU48U=FJ@$9I'E#MEC=<_V]@5V%#?(X5)%.3K@4=%.J,:"$28Y9H'4_9GD= M?IFY$::8C<&VX(H,(IB/FI*!B5&:K\'YYH9V8HED>=NLB2>%:/ZI'Z(HGE4E M=G)^6:AD2GV%EJ-RBF:F;O<%FL>42VKJV6<\%<-D:IE2R.::_?$FWSYE[I=A MJ(OQ2(>G2H+:JJ(,78IIE5L*LNJD)9%J:H)(\JJ9KQ#_'3+?.(>R&&6BD!'4 M7*)GWCG'J'N"JF>W#;X**V1/?MOI:'NZZN=^?PQRR"*/3'+))I^,X[+NP3A^&Y0SVJ11YPM2MJS!63,G@YJ)5LEL M#,V\P$`B"#K+4\&].!.3;3I$JV3"T5`GC7/103>Q--`V7'3"SUPG#5]25X_= M,G\V[>SLV$S3XW/85TMU]LYL"S/WT''3C;?=X>C-L]T_#YG46'+C[?74U>T- M,,ME7]EWS>3T;5/$O4$>\]XW[,M=^,QI,FVPVG5_S2CA:N?#C-.0`XXXZ%/G M[>SBWZ6>=^QISUTYX6;_;;G5=W\^--QK4[O[Z8ZWG?O:F`>M].^O(\X\[:2G MGG7HIQ,/M/3&-WY7\),+[_RZ$4-_F?*:;Z_UP^(W3SGNA"%=//J#/^S]].E/ MQ#?V6C/?>OAHWT[^D_;L?[W-N<\[[*N9XNX7/.01,'^/>Q\#/T,[M%'/?I:C M&P/=)KP+4HMEV..@SR)RCH'4+X$#=(S\*(@N^2&(.N,;20-/:+S%<"\C_\/6 @T[RG.Y5%07$RU.$7^I=#'QYA4;$38A<&E34C6J```#L_ ` end EX-99.01 3 x9901.htm

Exhibit 99.01

News

Media Contact:

Terri Cohilas

404-506-5333 or 1-866-506-5333

media@southerncompany.com

www.southerncompany.com

Investors: Glen Kundert, 404-506-5135

Jan. 25, 2007

2006 Southern Company earnings bolstered by

strong economy, customer growth

ATLANTA – Citing continued economic strength and a growing customer base in the Southeast, Southern Company today reported full-year 2006 earnings of $1.57 billion, or $2.12 a share. Reported earnings for 2005 were $1.59 billion, or $2.14 per share. Lower year-end earnings compared with the prior period were primarily the result of a reduction of tax credits related to the production of synthetic fuels. Excluding the impact of synthetic fuels, Southern Company earned $2.10 per share, up from $2.03 per share in 2005.

Southern Company also reported solid fourth quarter earnings of $188.4 million, or 25 cents a share. This compared with reported earnings of $158.9 million, or 21 cents per share, in the fourth quarter of 2005.

The region continued to attract new residents and businesses throughout the year, adding more than 70,000 customers in 2006, an increase of 1.7 percent over 2005. Another key earnings driver was the growth in the competitive wholesale generation business, which acquired new capacity in Florida and North Carolina, added to its portfolio of long-term wholesale contracts, and extended some of its existing contracts. These and other positive earnings drivers for the year were offset in part by a reduction of tax credits related to the production of synthetic fuels, higher interest expenses related to increased capital expenditures, and increased non-fuel operations and maintenance expenses primarily associated with prior year storm costs at the retail operating companies.

Chairman, President and CEO David M. Ratcliffe said the 2006 results demonstrate that the continued strength of the Southeast economy and the company’s dedication to serving the customer are the keys to Southern Company’s long-term financial performance.

“Southern Company remains committed to excellent customer service and satisfaction. We continue to provide outstanding reliability and customer service in the face of increasing demand,” Ratcliffe said. “Our ability to effectively manage costs has enabled us to keep our prices significantly below the national average.”

Fourth quarter revenues were $3.15 billion, compared with $3.29 billion in the same period a year earlier, a decrease of 4.2 percent. Revenues for the full year were $14.36 billion, compared with $13.56 billion in 2005, a 5.9 percent increase.

Kilowatt-hour sales to retail customers in Southern Company’s four-state service area increased 1.4 percent in 2006, compared with 2005. Residential energy sales increased 2.5 percent. Commercial energy sales increased 2.2 percent. Industrial energy sales declined 0.2 percent.

Total energy sales to Southern Company’s customers in the Southeast, including wholesale sales, increased 2.2 percent in 2006 compared with 2005, primarily due to customer growth.

In conjunction with this earnings announcement, Southern Company has posted on its Web site detailed financial information on its fourth quarter and 2006 performance. These materials are available at 7:30 a.m. Eastern time Jan. 25 at www.southerncompany.com.

Southern Company’s financial analyst call will be at 1 p.m. Eastern time Jan. 25, at which time Ratcliffe and Chief Financial Officer Thomas A. Fanning will discuss earnings and earnings guidance as well as a general business update. Investors, media and the public may listen to a live Webcast of the call at www.southerncompany.com. A replay of the Webcast will be available at the site for 12 months.

With 4.3 million customers and more than 41,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast, one of America’s fastest-growing regions. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are significantly below the national average. Southern Company has received the highest ranking in customer satisfaction among U.S. electric service providers for seven consecutive years by the American Customer Satisfaction Index (ACSI). Visit our Web site at www.southerncompany.com.

Forward Looking Statements Note:

Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning results of operations, customer and economic growth and Southern Company’s strategies. Southern Company cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Southern Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2005, and subsequent securities filings, could cause results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory change, including legislative and regulatory initiatives regarding deregulation and restructuring of the electric utility industry and implementation of the Energy Policy Act of 2005, and also changes in environmental, tax and other laws and regulations to which Southern Company and its subsidiaries are subject, as well as changes in application of existing laws and regulations; current and future litigation, regulatory investigations, proceedings or inquiries, including the pending EPA civil actions against certain Southern Company subsidiaries, FERC matters, IRS audits and Mirant-related matters; the effects, extent and timing of the entry of additional competition in the markets in which Southern Company’s subsidiaries operate; variations in demand for electricity, including those relating to weather, the general economy and population and business growth (and declines); available sources and costs of fuels; ability to control costs; investment performance of Southern Company’s employee benefit plans; advances in technology; state and federal rate regulations and the impact of pending and future rate cases and negotiations, including rate actions relating to fuel and storm restoration cost recovery; the performance of projects undertaken by the non-utility businesses and the success of efforts to invest in and develop new opportunities; fluctuations in the level of oil prices; the level of production, if any, by the synthetic fuel operations at Carbontronics Synfuels Investors LP and Alabama Fuel Products LLC for fiscal year 2007; internal restructuring or other restructuring options that may be pursued; potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Southern Company or its subsidiaries; the ability of counterparties of Southern Company and its subsidiaries to make payments as and when due; the ability to obtain new short- and long-term contracts with neighboring utilities; the direct or indirect effect on Southern Company’s business resulting from terrorist incidents and the threat of terrorist incidents; interest rate fluctuations and financial market conditions and the results of financing efforts, including Southern Company’s and its subsidiaries’ credit ratings; the ability of Southern Company and its subsidiaries to obtain additional generating capacity at competitive prices; catastrophic events such as fires, earthquakes, floods, hurricanes or other similar occurrences; the direct or indirect effects on Southern Company’s business resulting from incidents similar to the August 2003 power outage in the Northeast; and the effect of accounting pronouncements issued periodically by standard-setting bodies. Southern Company and its subsidiaries expressly disclaim any obligation to update any forward-looking information.

# # #

EX-99.02 4 x9902.txt EXHIBIT 99.02 Southern Company Financial Highlights (In Millions of Dollars Except Earnings Per Share)

Notes - - Southern Company GAS completed the sale of substantially all of its assets on January 4, 2006 and is included in consolidated earnings in all periods as discontinued operations. - - For the fourth quarter 2006, diluted earnings per share was less than 1 cent. For year-to-date 2006, diluted earnings per share was 2 cents. For the fourth quarter 2005, diluted earnings per share was less than 1 cent. For year-to-date 2005, diluted earnings per share was 1 cent. - - Southern Company's synthetic fuel investments did not contribute significantly to Southern Company's earnings and earnings per share for the three months and twelve months ended December 31, 2006. Due to higher oil prices in 2006, such tax credits were partially phased out and one synthetic fuel investment was terminated. - - Certain prior year data has been reclassified to conform with current year presentation. - - Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-K. EX-99.03 5 x9903.txt EXHIBIT 99.03 Southern Company Significant Factors Impacting EPS

Notes - - Southern Company GAS completed the sale of substantially all of its assets on January 4, 2006 and is included in consolidated earnings in all periods as discontinued operations. - - For the fourth quarter 2006, diluted earnings per share was less than 1 cent. For year-to-date 2006, diluted earnings per share was 2 cents. For the fourth quarter 2005, diluted earnings per share was less than 1 cent. For year-to-date 2005, diluted earnings per share was 1 cent. - - Southern Company's synthetic fuel investments did not contribute significantly to Southern Company's earnings and earnings per share for the three months and twelve months ended December 31, 2006. Due to higher oil prices in 2006, such tax credits were partially phased out and one synthetic fuel investment was terminated. - - Certain prior year data has been reclassified to conform with current year presentation. - - Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-K. EX-99.04 6 x9904.txt EXHIBIT 99.04 Southern Company Analysis of Consolidated Earnings (In Millions of Dollars)

Notes - - Southern Company GAS completed the sale of substantially all of its assets on January 4, 2006 and is included in consolidated earnings in all periods as discontinued operations. - - Certain prior year data has been reclassified to conform with current year presentation. - - Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-K. EX-99.05 7 x9905.txt EXHIBIT 99.05 Southern Company Kilowatt-Hour Sales (In Millions of KWHs)

Notes - - Certain prior year data has been reclassified to conform with current year presentation. - - Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-K. EX-99.06 8 x9906.txt EXHIBIT 99.06 Southern Company Financial Overview (In Millions of Dollars)

Notes - - Southern Company GAS completed the sale of substantially all of its assets on January 4, 2006 and is included in consolidated earnings in all periods as discontinued operations. - - Certain prior year data has been reclassified to conform with current year presentation. - - Information contained in this report is subject to audit and adjustments and certain classifications may be different from final results published in the Form 10-K. -----END PRIVACY-ENHANCED MESSAGE-----