April 14, 2016
Southern Company, AGL Resources receive merger approval from Georgia regulators
ATLANTA, Apr. 14, 2016 - Southern Company (NYSE: SO) and AGL Resources (NYSE: GAS) have received unanimous regulatory approval of the companies' proposed merger from the Georgia Public Service Commission, with all intervening parties in support of the recently announced settlement agreement.
AGL Resources is the parent company of Atlanta Gas Light, a regulated utility providing natural gas distribution services to approximately 1,578,000 customers in Georgia.
When completed, the combination of Southern Company and AGL Resources would unite two Georgia-based energy leaders and is expected to create the second-largest utility company in the U.S. by customer base, bringing together:
- Eleven regulated electric and natural gas distribution companies providing service to approximately 9 million customers;
- Operations of nearly 200,000 miles of electric transmission and distribution lines;
- More than 80,000 miles of gas pipelines; and
- Approximately 44,000 megawatts of electricity generating capacity.
Southern Company is already one of the largest consumers of natural gas in America, with that fuel accounting for nearly half of the electricity generated to serve customers' needs. Southern Company's full portfolio of energy resources also includes carbon-free nuclear, 21st century coal, one of America's largest renewable energy portfolios and energy efficiency.
A natural extension of the company's commitment to finding real solutions for America's energy future, Southern Company's pending acquisition of AGL Resources will help address one of the key challenges facing the energy industry - developing the infrastructure necessary to send low-priced natural gas to areas where it is increasingly needed.
The companies expect to complete the transaction in the second half of 2016.
About Southern Company
With more than 4.5 million customers and approximately 44,000 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 excellent customer service, high reliability and affordable prices that are below the national average. Through an industry-leading commitment to innovation, Southern Company and its subsidiaries are inventing America's energy future by developing the full portfolio of energy resources, including nuclear, 21st century coal, natural gas, renewables and energy efficiency, and creating new products and services for the benefit of customers. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, listed by Black Enterprise magazine as one of the 40 Best Companies for Diversity and designated a 2014 Top Employer for Hispanics by Hispanic Network. The company earned the 2014 National Award of Nuclear Science and History from the National Atomic Museum Foundation for its leadership and commitment to nuclear development, and is consistently 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.
About AGL Resources
AGL Resources (NYSE: GAS) is an Atlanta-based energy services holding company which owns and operates natural gas utilities, as well as retail energy and services, wholesale services and midstream businesses. AGL Resources serves approximately 4.5 million utility customers through its regulated distribution subsidiaries in seven states. The company also serves more than one million retail customers through its SouthStar Energy Services joint venture and Pivotal Home Solutions, which market natural gas and related home services. Other non-utility businesses include asset management for natural gas wholesale customers through Sequent Energy Management and ownership and operation of natural gas storage facilities. AGL Resources is a Fortune 500 company and a member of the S&P 500 Index. For more information, visit www.aglresources.com.