Accretive ­ investments that immediately add to earnings per share.

Commodity ­ an item that is fairly generic regardless of its source and can be differentiated only by price or added value.

Dilutive ­ investments that do not add to earnings per share until they begin to generate projected financial returns.

Earnings per share ­ total net earnings divided by the average number of shares of common stock outstanding.

Energy marketing ­ the buying and selling of energy according to market needs without the restriction of geographic or defined service areas.

Future of our industry ­ ain't what it used to be ... it's much better!

Generating capacity ­ the amount of energy we can produce using all of our power generation facilities.

Growth investment ­ financial returns are projected to increase in the future, after a period of development.

Independent power producer ­ builds and/or owns and operates generating facilities without any geographic or service area restrictions or relationships to traditional utilities.

Institutional customers ­ energy marketers, utilities, cooperatives and municipal utilities, industrial customers, and large national companies.

Integrated utility ­ includes the generation, transmission, and distribution of electricity among its services.

International business ­ the part of our business that develops, builds, owns, and operates utilities and power production and delivery systems outside the United States.

900-pound gorilla of the electric utility industry ­ still Southern Company.

Per capita consumption ­ the amount of electricity used per person during a defined period of time.

Real-time pricing ­ gives qualified customers the option to take advantage of lower-cost electricity by shifting usage to times when the cost of electricity is less.

Total return to shareholders ­ the sum of the change in market price for a share of common stock and the dividend.

Traditional business ­ the generation, transmission, and distribution of electricity to commercial, industrial, and residential customers in most of Alabama and Georgia, the Florida panhandle, and southeastern Mississippi.

Value investment ­ financial returns are projected to be immediate, with relatively small expected growth.