December 04, 2016 2:02 PM ET

Electric Utilities

Company Overview of Alabama Power Co.

Company Overview

Alabama Power Company, an integrated utility, generates, purchases, transmits, distributes, and sells electricity to residential, commercial, and industrial customers. The company generates electricity through coal, nuclear, oil and gas, and hydro plants. It sells electricity at retail in approximately 400 cities and towns, including Anniston, Birmingham, Gadsden, Mobile, Montgomery, and Tuscaloosa, as well as in rural areas; and at wholesale to 14 municipally-owned electric distribution systems. The company also sells electric appliances. It serves retail and wholesale customers in the State of Alabama, as well as wholesale customers in the Southeast. The company was founded in 1906 and is ...

600 North 18th Street

Birmingham, AL 35291

United States

Founded in 1906

6,986 Employees

Phone:

205-257-1000

Key Executives for Alabama Power Co.

Chairman, Chief Executive Officer and President
Age: 54
Chief Financial Officer, Executive Vice President and Treasurer
Age: 56
Executive Vice President of External Affairs
Age: 56
Senior Vice President and Security Production Officer
Age: 44
Chief Information Officer and Vice President
Compensation as of Fiscal Year 2016.

Alabama Power Co. Key Developments

FuelCell Energy and Exxon Mobil Select Alabama Power's Power Plant to Pilot Carbon Capture Technology

FuelCell Energy and Exxon Mobil announced that they have selected a Southern Company’s power plant in Alabama to test their fuel cell carbon capture technology. A 2.7 gigawatt mixed-use coal and gas-fired power plant the James M. Barry Electric Generating Station, operated by Southern Company subsidiary Alabama Power, will host pilot plant tests of the technology. The technology, which is being developed by FuelCell Energy and Exxon Mobil, uses carbonate fuel cells to concentrate and capture carbon dioxide streams from power plants. In May 2016, FuelCell Energy and Exxon Mobil entered into an agreement to conduct tests to demonstrate carbon capture from natural gas-fired power generation. To concentrate and capture a portion of the carbon dioxide emissions from the power plant, the pilot tests will use FuelCell Energy’s commercial DFC3000 carbonate fuel cell power system. Flue gas will combine with natural gas in the fuel cells’ air intake system after it is directed into the system from power generation. The fuel cells concentrate and capture carbon dioxide, which will be compressed and cooled utilizing standard chilling equipment. The results from the pilot tests are expected to help in testing the technology at a larger scale.

Southern Company and the Tennessee Valley Authority Announce Mutual Assistance Agreements with Southern Company's Four Electric Operating Companies-Alabama Power, Georgia Power, Gulf Power and Mississippi Power

Southern Company and the Tennessee Valley Authority announced mutual assistance agreements between Southern Company's four electric operating companies-Alabama Power, Georgia Power, Gulf Power and Mississippi Power-and TVA designed to further strengthen resiliency and reliability of the electric grid in the Southeast. The mutual assistance agreement will provide support through manpower and related equipment in response to severe weather or other significant events. As part of the agreements, TVA and each of Southern Company's four electric operating companies have agreed to the terms under which they would aid each other with manpower and related equipment for transmission restoration in crisis response situations. This partnership is in addition to any other mutual assistance agreements, which are instrumental in safe and timely power restoration following severe events such as the recent Hurricane Matthew.

Alabama Power Company Declares the Regular Quarterly Dividends on the Company's Outstanding Preferred Stock and Preference Stock for the Quarter Ending December 31, 2016, Payable on January 1, 2017

The board of directors of Alabama Power Company has declared the regular quarterly dividends on the company's outstanding preferred stock and preference stock as follows: Preferred Stock of 4.20% - $1.05 per share, 4.52% - $1.13 per share, 4.60% - $1.15 per share, 4.64% - $1.16 per share, 4.72% - $1.18 per share, and 4.92% - $1.23 per share. The company also announced dividend on Class A Preferred Stock of 5.83% - $0.364375 per share and Preference Stock of 6.45% - $0.403125 per share and 6.50% - $0.406250 per share. These dividends are for the quarter ending December 31, 2016, payable January 1, 2017, to shareholders of record on December 16, 2016.

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Recent Private Companies Transactions

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