-----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, UJWkxMkf6xZxvnV7AmndLmq4WlbLBYVxSAEJx7Cw4F8TBB4QjzhkbBg4EHJm2D8b m+Y6u7ocRW6NiB4g+Mw5Lg== 0000092122-06-000029.txt : 20060126 0000092122-06-000029.hdr.sgml : 20060126 20060126093235 ACCESSION NUMBER: 0000092122-06-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20060126 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20060126 DATE AS OF CHANGE: 20060126 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: 06551684 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 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: 06551683 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: 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: 06551682 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: 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: 06551681 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: SAVANNAH ELECTRIC & POWER CO CENTRAL INDEX KEY: 0000086940 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 580418070 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05072 FILM NUMBER: 06551680 BUSINESS ADDRESS: STREET 1: 600 BAY STREET EAST CITY: SAVANNAH STATE: GA ZIP: 31401 BUSINESS PHONE: 912-644-7171 MAIL ADDRESS: STREET 1: 600 BAY STREET EAST CITY: SAVANNAH STATE: GA ZIP: 31401 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: 06551678 BUSINESS ADDRESS: STREET 1: 270 PEACHTREE ST CITY: ATLANTA STATE: GA ZIP: 30303 BUSINESS PHONE: 4045065000 MAIL ADDRESS: STREET 1: 270 PEACHTREE STREET CITY: ATLANTA STATE: GA ZIP: 30303 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: 06551679 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 8-K 1 earning8k1205.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 26, 2006

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. NW Atlanta, Georgia 30308 (404) 506-5000	58-0690070
1-3164	Alabama Power Company (An Alabama Corporation) 600 North 18th 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
1-5072	Savannah Electric and Power Company (A Georgia Corporation) 600 East Bay Street Savannah, Georgia 31401 (912) 644-7171	58-0418070
333-98553	Southern Power Company (A Delaware Corporation) 30 Ivan Allen, Jr. Blvd. NW 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 seven registrants: The Southern Company, Alabama Power Company, Georgia Power Company, Gulf Power Company, Mississippi Power

Company, Savannah Electric and 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 26, 2006, The Southern Company issued a press release regarding its earnings for the quarter and year ended December 31, 2005. 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, 2005 is being furnished as Exhibits 99.02 through 99.06 to this Current Report on Form 8-K.

Use of Non-GAAP Financial Measures

In the press release attached hereto as Exhibit 99.01 and in Exhibits 99.02 and 99.04, Southern Company, in addition to presenting its earnings information in conformity with accounting principles generally accepted in the U.S. ("GAAP"), has also provided non-GAAP earnings data for the quarter and year ended December 31, 2004. The non-GAAP earnings data for the quarter and year ended December 31, 2004 reflects an adjustment to exclude a one-time gain related to the resolution of an IRS audit for the years 2000 and 2001, which had the net effect of increasing earnings by $24 million, or 3 cents per share. Southern Company believes that the non-GAAP earnings data is useful to investors because the item excluded is not indicative of Southern Company's continuing operating results and is excluded by Southern Company's management for planning and forecasting purposes. The presentation of this additional information is not meant to be considered a substitute for financial measures prepared in accordance with GAAP.

In addition, in exhibits 99.01 and 99.05 attached to this Current Report on Form 8-K, Southern Company, in addition to presenting kilowatt-hour sales information for the quarter and year ended December 31, 2004, as reported in accordance with GAAP, has also provided adjusted kilowatt-hour sales information for the quarter and year ended December 31, 2004. In 2005, certain Georgia Power Company industrial customers were reclassified from industrial to commercial to be consistent with the rate structure approved by the Georgia Public Service Commission. The adjusted kilowatt-hour sales information reclassifies 2004 kilowatt-hour sales for commercial and industrial customers to be consistent with the presentation for the quarter and year ended December 31, 2005. Southern Company believes that the adjusted kilowatt-hour sales information is useful to investors because it provides investors with more consistent information for purposes of comparing 2004 and 2005 kilowatt-hour sales performance. 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, Savannah Electric and 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, 2005:

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.

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 26, 2006	THE SOUTHERN COMPANY


	By: /s/W. Dean Hudson W. Dean Hudson Comptroller

	ALABAMA POWER COMPANY GEORGIA POWER COMPANY GULF POWER COMPANY MISSISSIPPI POWER COMPANY SAVANNAH ELECTRIC AND POWER COMPANY SOUTHERN POWER COMPANY


	By: /s/Wayne Boston Wayne Boston Assistant Secretary

EX-99.01 2 x9901.txt Exhibit 99.01 News Media Contact: Marc Rice 404-506-5333 or 1-866-506-5333 media@southerncompany.com www.southerncompany.com Investor Relations Contact: Glen Kundert 404-506-5135 gakunder2@southernco.com Jan. 26, 2006 Southern Company reports solid fourth quarter earnings; strong economy in region helps drive 2005 results ATLANTA - With continued economic strength in the Southeast and customer growth driving increased use of electricity, Southern Company today reported solid fourth quarter earnings of $158.9 million, or 21 cents a share. This compared with reported earnings, including one-time items, of $204.5 million, or 27 cents per share, in the fourth quarter of 2004. Southern Company also said full-year 2005 earnings were $1.59 billion, or $2.14 a share, exceeding analysts' expectations. Reported earnings for 2004, including the one-time items, were $1.53 billion, or $2.07 per share. Earnings in 2004 included one-time items in the fourth quarter related to the resolution of an Internal Revenue Service audit for the years 2000 and 2001, which had the net effect of increasing earnings by $24 million, or 3 cents per share. Excluding the impact of the one-time items, fourth quarter 2004 earnings were $180.4 million, or 24 cents a share. Full-year earnings for 2004, excluding the one-time items, were $1.51 billion, or $2.04 per share. Chairman, President and CEO David M. Ratcliffe said the positive results for 2005 were made possible primarily by the continued strength of the region's economy and the company's focus on achieving unquestionable trust, superior performance and total commitment. "Southern Company employees met significant challenges in 2005 to deliver outstanding results for our customers, most notably restoring power quickly and safely following the unprecedented damage caused by Hurricane Katrina," Ratcliffe said. The region continued to attract new residents and businesses throughout the year; despite the overall rate of customer growth slowing because of the hurricanes, the company was serving about 50,000 more customers at the end of 2005 than at the same time a year earlier, an increase of 1.2 percent. Another key earnings driver was the growth in the competitive wholesale generation business, which continued to add new long-term sales contracts to its portfolio. These and other positive earnings drivers were offset in part by increased operations and maintenance expenses related to serving the growing energy needs of the Southeast and, in the fourth quarter, the resumption of work that had been deferred earlier in the year because of hurricanes. Fourth quarter revenues were $3.29 billion, compared with $2.67 billion in the same period a year earlier, an increase of 23.2 percent. Revenues for the full year were $13.55 billion, compared with $11.73 billion in 2004, a 15.5 percent increase. Kilowatt-hour sales to retail customers in Southern Company's four-state service area increased 1.2 percent in 2005, compared with 2004. Residential electricity use increased 2.8 percent. In 2005, some Georgia Power industrial customers were reclassified from the industrial class to the commercial class to be consistent with the rate structure approved by the Georgia Public Service Commission. Adjusting the 2004 numbers for comparison purposes, electricity use by commercial customers -- offices, stores and other non-manufacturing firms - increased 1.5 percent. Industrial energy use declined 0.3 percent. As reported, without adjusting the 2004 kilowatt-hour sales, commercial sales in 2005 increased 3.6 percent, and industrial energy sales decreased 2.2 percent. Total sales of electricity to Southern Company's customers in the Southeast, including wholesale sales, increased 2.3 percent in 2005, compared with 2004. In conjunction with this earnings announcement, Southern Company has posted on its Web site detailed financial information on its fourth quarter and 2005 performance. These materials are available at 7:30 a.m. EST Jan. 26 at www.southerncompany.com. Southern Company's financial analyst call will be at 1 p.m. EST Jan. 26, at which time Ratcliffe and Chief Financial Officer Tom 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 4.2 million customers and more than 40,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier super-regional energy company in the Southeast and 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 15 percent below the national average. Southern Company has been ranked the nation's top energy utility in the American Customer Satisfaction Index six years in a row. Southern Company has more than 500,000 shareholders, making its common stock one of the most widely held in the United States. Visit the Southern Company 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 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, 2004, 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 and gas, 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; the performance of projects undertaken by the non-utility businesses and the success of efforts to invest in and develop new opportunities; 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 3 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. - - Excludes a one-time after tax gain of $24 million in December 2004 from the resolution of an IRS audit for the years 2000 and 2001. - - For 3 months ended December 2005 and 2004, diluted earnings per share are not more than 1 cent per share and are not material. For 12 months ended December 2005 and 2004, diluted earnings per share are (1) cent per share. - - 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 4 x9903.txt Exhibit 99.03 Southern Company Significant Factors Impacting EPS (See Notes) (Excluding One-Time Items)

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. - - Excludes a one-time after tax gain of $24 million in December 2004 from the resolution of an IRS audit for the years 2000 and 2001. - - For 3 months ended December 2005 and 2004, diluted earnings per share are not more than 1 cent per share and are not material. For 12 months ended December 2005 and 2004, diluted earnings per share are (1) cent per share. - - 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 5 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. - - Includes a one-time after tax gain of $24 million in December 2004 from the resolution of an IRS audit for the years 2000 and 2001. - - 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 6 x9905.txt Exhibit 99.05 Southern Company Kilowatt-Hour Sales (In Millions of KWHs)

Notes - - In 2005, some Georgia Power industrial customers were reclassified from industrial to commercial to be consistent with the rate structure approved by the Georgia Public Service Commission. For presentation purposes, the "As Adjusted" chart reclassifies 2004 KWHs for commercial and industrial customers to be consistent with the 2005 presentation. - - 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 7 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-----