Southern Company today completed the previously announced sale of Gulf Power Company to NextEra Energy. This marks the completion of the sales of Gulf Power, Florida City Gas and the entities holding Southern Power's interests in Plant Oleander and Plant Stanton.
"These sales deliver substantial value to Southern Company and our stockholders. By strengthening our financial position and allowing us to fund our business without raising significant additional capital, the value proposition of this deal is clear," said Thomas A. Fanning, chairman, president and CEO of Southern Company. "Our Florida teams have contributed significantly to the economies of South and Northwest Florida and improved the communities we served. Southern Company will continue to honor the accomplishments of our distinguished past, while working to optimize the long-term success of our business."
About Southern Company
Southern Company (NYSE: SO) is America's premier energy company, with 46,000 megawatts of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million customers through its subsidiaries, as of December 31, 2017. We operate nearly 200,000 miles of electric transmission and distribution lines and more than 80,000 miles of natural gas pipeline, as of December 31, 2017. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers in 11 states across America and a nationally recognized provider of customized energy solutions, 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 creating new products and services for the benefit of customers. We are building the future of energy by developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, recognized among the Top 50 Companies for Diversity and the number one Company for Progress by DiversityInc, and designated as one of America's Best Employers by Forbes magazine. Visit our website at www.southerncompany.com.