8-K

UNITED STATES

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) February 4, 2015

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 18th Street Birmingham, Alabama 35203 (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
001-31737	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 Boulevard 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 names and 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 registrants under any of the following provisions:

[  ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]	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 February 4, 2015, The Southern Company (“Southern Company”) issued a press release regarding its earnings for the periods ended December 31, 2014. 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 three-month and twelve-month periods ended December 31, 2014 is being furnished as Exhibits 99.02 through 99.07 to this Current Report on Form 8-K.

Use of Non-GAAP Financial Measures

Exhibits 99.01, 99.02, 99.03 and 99.04 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 three-month and twelve-month periods ended December 31, 2014 and 2013, also include earnings and earnings per share (1) for the three-month and twelve-month periods ended December 31, 2014 and 2013 excluding charges for estimated probable losses relating to Mississippi Power Company’s construction of the integrated coal gasification combined cycle facility in Kemper County, Mississippi (the “Kemper IGCC”), (2) for the twelve-month period ended December 31, 2013 excluding a charge related to the restructuring of a leveraged lease investment that was completed in March 2013, and (3) for the three-month and twelve-month periods ended December 31, 2013 excluding an insurance recovery received in December 2013 that related to the March 2009 settlement agreement with MC Asset Recovery, LLC.  These charges and insurance recovery significantly impacted the presentation of earnings and earnings per share for the respective periods detailed above.  Leveraged lease charges and similar insurance recoveries are not expected to occur with any regularity as part of Southern Company’s ongoing business activities, and any charges similar to the Kemper IGCC charges are items that may occur with uncertain frequency in the future.  Southern Company believes the presentation of earnings and earnings per share, excluding these charges and insurance recovery, is useful to investors because it provides investors with additional information to evaluate the performance of Southern Company’s ongoing business activities.  Southern Company management also uses earnings and earnings per share, excluding the effect of these charges and insurance recovery, to evaluate the performance of Southern Company’s ongoing business activities.  The presentation of this additional information is not meant to be considered a substitute for financial measures prepared in accordance with GAAP.

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 periods ended December 31, 2014:

Exhibit 99.01	Press Release.
Exhibit 99.02	Financial Highlights.
Exhibit 99.03	Significant Factors Impacting EPS.
Exhibit 99.04	EPS Earnings Analysis.
Exhibit 99.05	Consolidated Earnings.
Exhibit 99.06	Kilowatt-Hour Sales.
Exhibit 99.07	Financial Overview.

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:February 4, 2015	THE SOUTHERN COMPANY
	By	/s/Ann P. Daiss
		Ann P. Daiss Comptroller
	ALABAMA POWER COMPANY GEORGIA POWER COMPANY GULF POWER COMPANY MISSISSIPPI POWER COMPANY SOUTHERN POWER COMPANY
	By	/s/Melissa K. Caen
		Melissa K. Caen Assistant Secretary

- 2 -

EX-99.01

		Exhibit 99.01
News
Media Contact:	Southern Company Media Relations
	404-506-5333 or 866-506-5333
	www.southerncompany.com
Investor Relations Contact:
	Dan Tucker
	404-506-5310
	dstucker@southernco.com
		February 4, 2015

Southern Company reports fourth-quarter and full-year 2014 earnings

ATLANTA - Southern Company today reported fourth-quarter 2014 earnings of $300 million, or 33 cents per share, compared with earnings of $414 million, or 47 cents per share, in the fourth quarter of 2013. Southern Company also reported full-year 2014 earnings of $1.98 billion, or $2.21 per share, compared with earnings for 2013 of $1.64 billion, or $1.88 per share.

Earnings for the fourth quarter of 2014 include after-tax charges of $43 million, or 5 cents per share - and earnings for the full year 2014 include after-tax charges totaling $536 million, or 59 cents per share -related to increased cost estimates for construction of Mississippi Power’s Kemper County integrated gasification combined cycle project. Earnings for the fourth quarter of 2013 include after-tax charges of $25 million, or 3 cents per share - and earnings for the full year 2013 include after-tax charges totaling $729 million, or 83 cents per share - related to increased cost estimates for construction of the Kemper project. Earnings for the full year 2013 also include an after-tax charge of $16 million, or 2 cents per share, for the restructuring of a leveraged lease investment recorded in the first quarter of 2013. Earnings for the fourth quarter and full year 2013 also include $12 million, or 2 cents per share, of insurance recovery related to the March 2009 litigation settlement agreement with MC Asset Recovery, LLC. Excluding these items, earnings for the fourth quarter and full year 2014 were 38 cents and $2.80 per share, respectively, compared with 48 cents and $2.71 per share, respectively, for the same periods in 2013.

Earnings for the fourth quarter and full year 2014 were positively influenced by retail revenue effects at Southern Company’s traditional operating companies, offset by increased operating and maintenance expenses. Full-year 2014 earnings were further positively influenced by closer-to-normal weather and increased customer growth compared with the full year 2013.

“Southern Company had one of its best years ever serving customers in 2014,” said Southern Company Chairman, President and CEO Thomas A. Fanning. “We continued to lead the industry in customer satisfaction and set several all-time records for system reliability. Our commitment to providing clean, safe, reliable and affordable electricity - while making communities better off because we’re there - remains the cornerstone of our business.”

Fanning said economic growth was especially strong during the second half of 2014, led by manufacturing activity, growth in exports and a stronger domestic economy.

Operating revenues for the full year 2014 were $18.5 billion, compared with $17.1 billion in 2013, an increase of 8.3 percent. Fourth-quarter 2014 operating revenues were $4.0 billion, compared with $3.9 billion for the same period in 2013, an increase of 3.1 percent.

Kilowatt-hour sales to retail customers in the Southern Company system's four-state service area increased 3.3 percent in 2014, compared with 2013. Residential energy sales increased 5.5 percent, commercial energy sales increased 1.3 percent and industrial energy sales increased 3.3 percent.

Total energy sales to the Southern Company system’s customers in the Southeast, including wholesale sales, increased 6.0 percent in 2014, compared with 2013.

Southern Company’s financial analyst call will begin at 1 p.m. Eastern time today, during which Fanning and Chief Financial Officer Art P. Beattie will discuss earnings and provide a general business update. Investors, media and the public may listen to a live webcast of the call and view associated slides at http://investor.southerncompany.com/webcasts. A replay of the webcast will be available at the site for 12 months.

Southern Company has also posted on its website detailed financial information on its fourth-quarter and full-year performance. These materials are available at www.southerncompany.com.

With more than 4.5 million customers and approximately 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable 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 energy innovation, excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company and its subsidiaries are leading the nation's nuclear renaissance through the construction of the first new nuclear units to be built in a generation of Americans and are demonstrating their commitment to energy innovation through the development of a state-of-the-art coal gasification plant. Southern Company has been recognized by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, listed by DiversityInc as a top company for Blacks and designated a 2013 Top Employer for Hispanics by Hispanic Network. The company received the Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Electric Light & Power magazine's Utility of the Year for 2012 and is continually ranked among the top utilities in Fortune's annual World’s Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.

# # #

EX-99.02

Exhibit 99.02
Southern Company
Financial Highlights
(In Millions of Dollars Except Earnings Per Share)
	Three Months Ended December						Year-to-Date December
	2014			2013			2014			2013
Consolidated Earnings–As Reported
(See Notes)
Traditional Operating Companies	$	257		$	387		$	1,814		$	1,486
Southern Power	44			24			172			166
Total	301			411			1,986			1,652
Parent Company and Other	(1		)	3			(6		)	(8		)
Net Income–As Reported	$	300		$	414		$	1,980		$	1,644
Basic Earnings Per Share	$	0.33		$	0.47		$	2.21		$	1.88
Average Shares Outstanding (in millions)	906			885			897			877
End of Period Shares Outstanding (in millions)							909			888
	Three Months Ended December						Year-to-Date December
	2014			2013			2014			2013
Consolidated Earnings–Excluding Items
(See Notes)
Net Income–As Reported	$	300		$	414		$	1,980		$	1,644
Estimated Loss on Kemper IGCC	43			25			536			729
Leveraged Lease Restructure	—			—			—			16
MC Asset Recovery Insurance Settlement, net	—			(12		)	—			(12		)
Net Income–Excluding Items	$	343		$	427		$	2,516		$	2,377
Basic Earnings Per Share–Excluding Items	$	0.38		$	0.48		$	2.80		$	2.71
Notes
- For the three and twelve months ended December 31, 2014 and 2013, dilution does not change basic earnings per share by more than 1 cent and is not material.
- The estimated probable losses relating to Mississippi Power Company's construction of the integrated coal gasification combined cycle facility in Kemper County, Mississippi (Kemper IGCC) significantly impacted the presentation of earnings and earnings per share for the three and twelve months ended December 31, 2014 and 2013 and any similar charges may occur with uncertain frequency.
- The charge related to the restructuring of a leveraged lease investment that was completed on March 1, 2013 impacted the presentation of earnings and earnings per share for the twelve months ended December 31, 2013 and similar charges are not expected to occur with any regularity in the future.
- Earnings for the three and twelve months ended December 31, 2013 include an insurance settlement related to the March 2009 litigation settlement with MC Asset Recovery, LLC and similar insurance recoveries are not expected to occur with any regularity in the future.
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-K.

EX-99.03

Exhibit 99.03
Southern Company
Significant Factors Impacting EPS
	Three Months Ended December							Year-to-Date December
	2014		2013		Change			2014		2013		Change
Consolidated Earnings Per Share–
As Reported (See Notes)	$	0.33	$	0.47	$	(0.14	)	$	2.21	$	1.88	$	0.33
Significant Factors:
Traditional Operating Companies					(0.14		)					0.38
Southern Power					0.02							0.01
Parent Company and Other					(0.01		)					—
Increase in Shares					(0.01		)					(0.06		)
Total–As Reported					$	(0.14	)					$	0.33
	Three Months Ended December							Year-to-Date December
	2014		2013		Change			2014		2013		Change
Consolidated Earnings Per Share–
Excluding Items (See Notes)	$	0.38	$	0.48	$	(0.10	)	$	2.80	$	2.71	$	0.09
Total–As Reported					(0.14		)					0.33
Estimated Loss on Kemper IGCC					0.02							(0.24		)
Leveraged Lease Restructure					—							(0.02		)
MC Asset Recovery Insurance Settlement, net					0.02							0.02
Total–Excluding Items					$	(0.10	)					$	0.09
Notes
- For the three and twelve months ended December 31, 2014 and 2013, dilution does not change basic earnings per share by more than 1 cent and is not material.
- The estimated probable losses relating to Mississippi Power Company's construction of the integrated coal gasification combined cycle facility in Kemper County, Mississippi (Kemper IGCC) significantly impacted the presentation of earnings and earnings per share for the three and twelve months ended December 31, 2014 and 2013 and any similar charges may occur with uncertain frequency.
- The charge related to the restructuring of a leveraged lease investment that was completed on March 1, 2013 impacted the presentation of earnings and earnings per share for the twelve months ended December 31, 2013 and similar charges are not expected to occur with any regularity in the future.
- Earnings for the three and twelve months ended December 31, 2013 include an insurance settlement related to the March 2009 litigation settlement with MC Asset Recovery, LLC and similar insurance recoveries are not expected to occur with any regularity in the future.
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-K.

EX-99.04

		Exhibit 99.04
Southern Company
EPS Earnings Analysis
Description	Three Months Ended December 2014 vs. 2013	Year-to-Date December 2014 vs. 2013
Retail Sales	—¢	3¢
Retail Revenue Impacts	7	23
Weather	—	17
Wholesale Revenues	—	2
Other Operating Revenues	1	2
Non-Fuel O&M	(21)	(33)
Depreciation and Amortization	4	—
Taxes Other Than Income Taxes	(1)	(4)
Other Income and Deductions	—	4
Interest Expense	(1)	—
Income Taxes	(1)	—
Total Traditional Operating Companies	(12)¢	14¢
Southern Power	2	1
Parent and Other	1	—
Increase in Shares	(1)	(6)
Total Change in EPS (x-Items)	(10)¢	9¢
Estimated Loss on Kemper IGCC	(2)	24
Leveraged Lease Restructure	—	2
MC Asset Recovery Insurance Settlement	(2)	(2)
Total Change in EPS (As Reported)	(14)¢	33¢
Notes
- The estimated probable losses relating to Mississippi Power Company's construction of the integrated coal gasification combined cycle facility in Kemper County, Mississippi (Kemper IGCC) significantly impacted the presentation of earnings and earnings per share for the three and twelve months ended December 31, 2014 and 2013 and any similar charges may occur with uncertain frequency.
- The charge related to the restructuring of a leveraged lease investment that was completed on March 1, 2013 impacted the presentation of earnings and earnings per share for the twelve months ended December 31, 2013 and similar charges are not expected to occur with any regularity in the future.
- Earnings for the three and twelve months ended December 31, 2013 include an insurance settlement related to the March 2009 litigation settlement with MC Asset Recovery, LLC and similar insurance recoveries are not expected to occur with any regularity in the future.
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-K.

EX-99.05

Exhibit 99.05
Southern Company
Consolidated Earnings
As Reported
(In Millions of Dollars)
	Three Months Ended December									Year-to-Date December
	2014			2013			Change			2014			2013			Change
Income Account-
Retail Revenues-
Fuel	$	1,141		$	1,160		$	(19	)	$	5,396		$	4,990		$	406
Non-Fuel	2,255			2,144			111			10,186			9,551			635
Wholesale Revenues	465			449			16			2,184			1,855			329
Other Electric Revenues	169			162			7			672			639			33
Non-regulated Operating Revenues	19			12			7			61			52			9
Total Revenues	4,049			3,927			122			18,499			17,087			1,412
Fuel and Purchased Power	1,398			1,388			10			6,677			5,971			706
Non-Fuel O & M	1,330			997			333			4,356			3,846			510
Depreciation and Amortization	424			479			(55		)	1,939			1,901			38
Taxes Other Than Income Taxes	235			224			11			986			934			52
Estimated Loss on Kemper IGCC	70			40			30			868			1,180			(312		)
Total Operating Expenses	3,457			3,128			329			14,826			13,832			994
Operating Income	592			799			(207		)	3,673			3,255			418
Allowance for Equity Funds Used During Construction	63			51			12			245			190			55
Interest Income	5			5			—			19			19			—
Interest Expense, Net of Amounts Capitalized	217			196			21			840			824			16
Other Income (Expense), net	(28		)	(36		)	8			(62		)	(81		)	19
Income Taxes	98			192			(94		)	987			849			138
Net Income	317			431			(114		)	2,048			1,710			338
Dividends on Preferred and Preference Stock of Subsidiaries	17			17			—			68			66			2
NET INCOME AFTER DIVIDENDS ON PREFERRED AND PREFERENCE STOCK	$	300		$	414		$	(114	)	$	1,980		$	1,644		$	336
Notes
- Certain prior year data has been reclassified to conform with current year presentation.
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-K.

EX-99.06

Exhibit 99.06
Southern Company
Kilowatt-Hour Sales
(In Millions of KWHs)
	Three Months Ended December						Year-to-Date December
As Reported	2014	2013	Change		Weather Adjusted Change		2014	2013	Change		Weather Adjusted Change
Kilowatt-Hour Sales-
Total Sales	44,775	43,983	1.8	%			194,425	183,401	6.0	%
Total Retail Sales-	37,727	37,535	0.5	%	0.6	%	161,639	156,457	3.3	%	0.9	%
Residential	11,782	11,805	(0.2	)%	(0.2	)%	53,347	50,575	5.5	%	—	%
Commercial	12,349	12,442	(0.8	)%	(0.3	)%	53,242	52,551	1.3	%	(0.4	)%
Industrial	13,369	13,067	2.3	%	2.3	%	54,140	52,429	3.3	%	3.3	%
Other	227	221	2.6	%	2.5	%	910	902	0.9	%	0.7	%
Total Wholesale Sales	7,048	6,448	9.3	%	N/A		32,786	26,944	21.7	%	N/A

EX-99.07

Exhibit 99.07
Southern Company
Financial Overview
As Reported
(In Millions of Dollars)
	Three Months Ended December							Year-to-Date December
	2014			2013		% Change		2014			2013			% Change
Consolidated –
Operating Revenues	$	4,049		$	3,927	3.1	%	$	18,499		$	17,087		8.3	%
Earnings Before Income Taxes	415			623		(33.4	)%	3,035			2,559			18.6	%
Net Income Available to Common	300			414		(27.5	)%	1,980			1,644			20.4	%
Alabama Power –
Operating Revenues	$	1,328		$	1,314	1.1	%	$	5,942		$	5,618		5.8	%
Earnings Before Income Taxes	211			237		(11.0	)%	1,312			1,229			6.8	%
Net Income Available to Common	119			140		(15.0	)%	761			712			6.9	%
Georgia Power –
Operating Revenues	$	1,902		$	1,866	1.9	%	$	8,988		$	8,274		8.6	%
Earnings Before Income Taxes	196			335		(41.5	)%	1,971			1,914			3.0	%
Net Income Available to Common	123			208		(40.9	)%	1,225			1,174			4.3	%
Gulf Power –
Operating Revenues	$	361		$	343	5.2	%	$	1,590		$	1,440		10.4	%
Earnings Before Income Taxes	39			44		(12.2	)%	237			212			12.0	%
Net Income Available to Common	23			25		(9.9	)%	140			124			12.7	%
Mississippi Power –
Operating Revenues	$	278		$	268	3.8	%	$	1,275		$	1,145		11.3	%
Earnings (Loss) Before Income Taxes	(29		)	1		N/M		(585		)	(843		)	30.6	%
Net Income (Loss) Available to Common	(7		)	13		N/M		(312		)	(477		)	34.5	%
Southern Power –
Operating Revenues	$	386		$	300	28.7	%	$	1,501		$	1,275		17.7	%
Earnings Before Income Taxes	18			32		(43.4	)%	172			211			(18.7	)%
Net Income Available to Common	44			24		90.8	%	172			166			4.1	%
N/M - not meaningful
Notes
- Mississippi Power Company restated its 2012 financial statements to reflect a pre-tax charge to income for the estimated probable loss on Kemper IGCC of $78 million ($48 million after tax) in 2012. Southern Company evaluated the portion of the estimated probable loss related to 2012 and concluded it was not material to Southern Company. Therefore, Southern Company reflected the pre-tax charge to income for this portion of the estimated probable loss related to 2012 in the first quarter 2013.
- All figures in this earnings release are preliminary and remain subject to the completion of normal quarter-end accounting procedures and adjustments, which could result in changes to these preliminary results. In addition, certain classifications and rounding may be different from final results published in the Form 10-K.