Exhibits 99.05

 Southern Company

 Consolidated Earnings

 (In Millions of Dollars)

		Three Months Ended March
		2012		2011		Change
Income Account-
Retail Revenues-
Fuel	$	1,035	$	1,302	$	(267)
Non-Fuel		2,057		2,094		(37)
Wholesale Revenues		349		449		(100)
Other Electric Revenues		148		150		(2)
Non-regulated Operating Revenues		15		17		(2)
Total Revenues		3,604		4,012		(408)
Fuel and Purchased Power		1,205		1,576		(371)
Non-fuel O & M		967		944		23
Depreciation and Amortization		441		418		23
Taxes Other Than Income Taxes		225		220		5
Total Operating Expenses		2,838		3,158		(320)
Operating Income		766		854		(88)
Allowance for Equity Funds Used During Construction		31		35		(4)
Interest Expense, Net of Amounts Capitalized		211		222		(11)
Other Income (Expense), net		(2)		2		(4)
Income Taxes		200		231		(31)
Net Income		384		438		(54)
Dividends on Preferred and Preference Stock of Subsidiaries		16		16		0
NET INCOME AFTER DIVIDENDS ON PREFERRED
AND PREFERENCE STOCK (See Notes)	$	368	$	422	$	(54)

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.  Certain classifications and rounding may be different from final results published in the Form 10-Q.