Southern Company Announces Wholesale Power Agreement With Progress Energy
Posted on: Wednesday, 5 July 2006, 12:00 CDT
ATLANTA, July 5 /PRNewswire-FirstCall/ -- Southern Company announced today that it has signed a long-term wholesale power agreement with Progress Ventures, the non-regulated subsidiary of Progress Energy. Under the agreement, Southern Company will provide approximately 621 megawatts of wholesale power to Progress Ventures from 2009 through 2015.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020207/SOCOLOGO)
Power to supply Progress Ventures will be generated from a new combined- cycle generating unit to be constructed at Plant Franklin, located in Smiths, Ala. Plant Franklin currently consists of two natural gas-fueled, combined- cycle generating units. The third unit at Plant Franklin is scheduled to be commercially available by the fourth quarter of 2008.
Plant Franklin is owned by Southern Power, the subsidiary of Southern Company that builds, owns and operates Southern Company's competitive generation assets. Southern Power currently serves municipalities, electric cooperatives and shareholder-owned utilities throughout the Southeast.
Progress Energy, headquartered in Raleigh, N.C., is a Fortune 250 diversified energy company with more than 24,000 megawatts of generation capacity and $10 billion in annual revenues. The company's holdings include two electric utilities serving approximately 3 million customers in North Carolina, South Carolina and Florida. Progress Energy also includes non- regulated operations covering energy marketing and natural gas exploration. Progress Energy is the 2006 recipient of the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence. In 2005, the company also received the prestigious J.D. Power and Associates Founder's Award for dedication, commitment and sustained improvement in customer service. For more information about Progress Energy, visit the company's Web site at progress-energy.com.
With 4.3 million customers and more than 40,000 megawatts of generating capacity, Atlanta-based Southern Company is the premier energy company serving the Southeast, one of America's fastest-growing regions. A leading U.S. producer of 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 retail electric prices that are significantly below the national average. Southern Company has received the highest ranking in customer satisfaction among U.S. electric service providers for the seventh consecutive year by the American Customer Satisfaction Index (ACSI). Visit our Web site at http://www.southerncompany.com/.
Photo: NewsCom: ttp://www.newscom.com/cgi-bin/prnh/20020207/SOCOLOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, photodesk@prnewswire.com
Southern Company
CONTACT: Mike Tyndall of Southern Company, +1-404-506-5333, or+1-866-506-5333, or media@southerncompany.com
Web site: http://www.southerncompany.com/http://progress-energy.com/
Source: PRNewswire-FirstCall
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