Thomas A. Fanning, chairman, president and CEO of Southern Company, spoke today at the annual meeting of stockholders about the importance of innovation and delivering the full energy portfolio to meet the needs of customers.
Fanning's remarks expanded on three guiding principles:
During the meeting, Fanning announced that Southern Company has reached an agreement with Tesla to test commercial-scale battery storage. Bringing together two companies with a shared commitment to innovation, the agreement will provide for the examination of potential applications for the energy storage technology in helping meet customers' energy needs.
Fanning also addressed the importance of innovation as part of Southern Company's culture. He discussed the value of the full portfolio - and the importance of delivering clean, safe, reliable and affordable power to customers - to provide a step to reach energy and economic security, which contribute to national security.
Fanning highlighted the success of SO Prize, the company's internal competition that sparked nearly 1,000 innovative ideas from employees. He also spoke about Southern Company's development of the Energy Innovation Center, which will serve as an incubator for new products and services through strategic partnerships, as well as the company's aspiration to eliminate all workplace accidents.