8-K

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)April 26, 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 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
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 April 26, 2007, The Southern Company (“Southern Company”) issued a press release regarding its earnings for the three months ended March 31, 2007. 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 months ended March 31, 2007 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 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 quarters ended March 31, 2007 and March 31, 2006, 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. 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.

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.

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The following exhibits relate to the three months ended March 31, 2007:

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:      April 26, 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

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EX-99.1

Exhibit 99.01

News

Media Contact: Terri Cohilas 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

April 26, 2007

Population growth and robust economy drive

Southern Company’s first quarter earnings

ATLANTA – Southern Company today reported first quarter earnings of $338.7 million, or 45 cents a share, compared with $261.6 million, or 35 cents a share, in the same period a year ago.

“The population growth in the Southeast is a reflection of our robust regional economy. Economic development in the Southeast is strong, the job market is vibrant, income levels have increased, and our housing market is outperforming the nation as a whole,” said David M. Ratcliffe, Southern Company chairman, president and CEO.

The result for the company has been increases in residential and commercial customers and electricity usage. Southern Company has added 70,000 customers since the end of the first quarter in 2006, a 1.7 percent increase. Total kilowatt-hour sales to Southern Company’s customers in the Southeast, including wholesale sales, grew 6.7 percent in the first quarter, compared with the previous year. These positive earnings drivers were offset in part by higher interest costs.

“We maintain our commitment to deliver superior service to customers and excellent results to shareholders. We’re excited about the growth in our region and we’re committed to investing in our infrastructure to ensure that we maintain high reliability. We’re also meeting increasing demand with cleaner electricity by installing new environmental controls at our facilities. And, we’re working hard to keep our costs to customers well below the national average,” Ratcliffe said.

Excluding the financial impact of the synthetic fuel business, first quarter earnings per share were 41 cents, compared with 34 cents in the first quarter of 2006.

Revenues for the first quarter were $3.41 billion, compared with $3.06 billion in the same period a year ago, an 11.3 percent increase.

Kilowatt-hour sales to retail customers in Southern Company’s four-state service area increased 3.3 percent in the first quarter, compared with 2006. Residential electricity use increased 6.4 percent. Electricity use by commercial customers increased 5.1 percent, while industrial sales decreased 1.0 percent.

With 4.3 million customers and more than 42,000 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 been listed the top ranking U.S. electric service provider in customer satisfaction 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, capital investments, retail rates 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, 2006, 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, pandemic health events such as an avian influenza 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-99.2

EXHIBIT 99.02

Southern Company

Financial Highlights

(In Millions of Dollars Except Earnings Per Share)

	3 Months Ended March
	2007		2006
	(Notes)		(Notes)
Consolidated Earnings–As Reported
(See Notes)
Traditional Operating Companies	$	285	$	242
Southern Power		32		20
Total		317		262
Synthetic Fuels		28		8
Leasing Business		1		6
Parent Company and Other		(7)		(14)
Net Income - As Reported	$	339	$	262
Basic Earnings Per Share - (See Notes)	$	0.45	$	0.35
Operating Revenues	$	3,409	$	3,063
Average Shares Outstanding (in millions)		750		742
End of Period Shares Outstanding (in millions)		752		742
	3 Months Ended March
	2007		2006
Consolidated Earnings–Excluding Synfuels
(See Notes)
Net Income - As Reported	$	339	$	262
Less: Synthetic Fuels		(28)		(8)
Net Income–Excluding Synthetic Fuels	$	311	$	254
Basic Earnings Per Share–Excluding Synfuels	$	0.41	$	0.34

Notes

- For the first quarters 2007 and 2006, diluted earnings per share was less than 1 cent.

- Tax credits associated with Southern Company's synthetic fuel investments expire December 31, 2007 and will not contribute to Southern Company's earnings and earnings per share after 2007.

- Certain prior year data has been reclassified to conform with current year presentation.

- Information contained in this report is subject to audit and adjustments. Certain classifications may be different from final results published in the Form 10-Q.

EX-99.3

EXHIBIT 99.03

Southern Company

Significant Factors Impacting EPS

	3 Months Ended March
	2007		2006			Change
Consolidated Earnings–As Reported	$	0.45	$	0.35	$	0.10
(See Notes)
Significant Factors:
Traditional Operating Companies						0.05
Southern Power						0.02
Synthetic Fuels						0.03
Leasing						(0.01)
Parent Company and Other						0.01
Total–As Reported					$	0.10
	3 Months Ended March
	2007		2006			Change
Consolidated Earnings–Excluding Synfuels	$	0.41	$	0.34	$	0.07
(See Notes)
Total–As Reported						0.10
Less: Synthetic Fuels						(0.03)
Total–Excluding Synthetic Fuels					$	0.07

Notes

- Tax credits associated with Southern Company's synthetic fuel investments expire December 31, 2007 and will not contribute to Southern Company's earnings and earnings per share after 2007.

- Certain prior year data has been reclassified to conform with current year presentation.

- Information contained in this report is subject to audit and adjustments. Certain classifications may be different from final results published in the Form 10-Q.

EX-99.4

EXHIBIT 99.04

Southern Company

Analysis of Consolidated Earnings

(In Millions of Dollars)

	3 Months Ended March
	2007		2006		Change
Income Account-
Retail Revenue	$	2,744	$	2,471	$	273
Wholesale Revenue		481		415		66
Other Electric Revenues		121		111		10
Non-regulated Operating Revenues		63		66		(3)
Total Revenues		3,409		3,063		346
Fuel and Purchased Power		1,381		1,153		228
Non-fuel O & M		848		846		2
Depreciation and Amortization		306		299		7
Taxes Other Than Income Taxes		183		175		8
Total Operating Expenses		2,718		2,473		245
Operating Income		691		590		101
Other Income, net		32		(4)		36
Interest Charges and Dividends		228		216		12
Income Taxes		156		108		48
NET INCOME (See Notes)	$	339	$	262	$	77

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-Q.

EX-99.5

EXHIBIT 99.05

Southern Company

Kilowatt-Hour Sales

(In Millions of KWHs)

			3 Months Ended March
As Reported (See Notes)	2007			2006		Change
Kilowatt-Hour Sales-
Total Sales		48,286			45,270		6.7%
Total Retail Sales-		38,040			36,821		3.3%
Residential		12,464			11,716		6.4%
Commercial		12,276			11,682		5.1%
Industrial		13,060			13,187		-1.0%
Other		240			236		1.6%
Total Wholesale Sales		10,246			8,449		21.3%

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-Q.

EX-99.6

EXHIBIT 99.06

Southern Company

Financial Overview

(In Millions of Dollars)

	3 Months Ended March
	2007		2006		% Change
Consolidated –
Operating Revenues	$	3,409	$	3,063	11.3%
Earnings Before Income Taxes		494		370	33.7%
Net Income	$	339	$	262	29.5%
Alabama Power –
Operating Revenues	$	1,197	$	1,073	11.6%
Earnings Before Income Taxes		196		142	38.3%
Net Income Available to Common	$	115	$	82	39.9%
Georgia Power –
Operating Revenues	$	1,657	$	1,584	4.6%
Earnings Before Income Taxes		203		214	-5.0%
Net Income Available to Common	$	131	$	132	-0.5%
Gulf Power –
Operating Revenues	$	296	$	263	12.6%
Earnings Before Income Taxes		31		21	48.7%
Net Income Available to Common	$	19	$	12	52.1%
Mississippi Power –
Operating Revenues	$	257	$	209	22.9%
Earnings Before Income Taxes		32		25	29.9%
Net Income Available to Common	$	20	$	15	28.5%
Southern Power –
Operating Revenues	$	192	$	140	37.7%
Earnings Before Income Taxes		54		32	64.8%
Net Income Available to Common	$	32	$	20	61.0%

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-Q.