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March 28, 2015 1:52 PM ET

Electric Utilities

Company Overview of Gulf Power Company

Company Overview

Gulf Power Company, a vertically integrated utility company, is engaged in the generation, purchase, transmission, distribution, and sale of electricity to retail customers in Northwest Florida and to wholesale customers in the southeast Florida. The company generates electricity through natural gas and coal. It sells electricity at retail in 71 communities, including Pensacola, Panama City, and Fort Walton Beach, as well as in rural areas; and at wholesale to a non-affiliated utility. The company was founded in 1925 and is based in Pensacola, Florida. Gulf Power Company is a subsidiary of The Southern Company.

One Energy Place

Pensacola, FL 32520

United States

Founded in 1925

1,384 Employees

Phone:

850-444-6111

Key Executives for Gulf Power Company

Chief Executive Officer, President and Director
Age: 44
Chief Financial Officer and Vice President
Age: 43
Chairman of the Southern Company, Chief Executive Officer of The Southern Company and President of The Southern Company
Age: 57
Corporate Secretary
Assistant Secretary
Compensation as of Fiscal Year 2014.

Gulf Power Company Key Developments

Gulf Power Company Names Rick Byars as the New Community and Economic Development General Manager

Gulf Power Company has named Rick Byars as the new community and economic development general manager. Byars will be responsible for job creation, community building and community development in Northwest Florida, as well as for ensuring the company maintains strategic and credible relationships with key community stakeholders. He will be replacing John Hutchinson, who retired from Gulf Power in November after 24 years of service to Gulf Power customers and a total of 32 years working in the utility industry.

Gulf Power Company Announces Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Gulf Power Company announced earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported operating revenues of $361 million compared to $343 million a year ago. Earnings before income taxes were $39 million compared to $44 million a year ago. Net income available to common shareholders was $23 million compared to $25 million a year ago. For the year, the company reported operating revenues of $1,590 million compared to $1,440 million a year ago. Earnings before income taxes were $237 million compared to $212 million a year ago. Net income available to common shareholders was $140 million compared to $124 million a year ago.

HelioSage Energy and Gulf Power Company Announces Development of Three Large-Scale Solar Projects Across Northwest Florida Totaling 120 Megawatts

HelioSage Energy and Gulf Power Company announced the development of three large-scale solar projects across Northwest Florida totaling 120 megawatts (MW). Gulf Power and HelioSage have partnered with the U.S. Air Force and U.S. Navy to develop the solar facilities on three military sites along the Florida Gulf Coast. Once constructed, the projects will serve as the three large photovoltaic (PV) solar facilities in Florida, and among the large solar projects east of the Mississippi. Following approval by the Florida Public Service Commission, HelioSage will develop, finance, and operate the solar projects. The power generated by the facilities will then be sold to Gulf Power under a long-term Energy Purchase Agreement. Collectively, the solar facilities will produce enough energy to power over 18,000 homes each year. The solar facilities will be constructed at Eglin Air Force Base in Fort Walton Beach (30 MW), Holley Naval Outlying Landing Field in Navarre (40 MW), and Saufley Naval Outlying Landing Field in Pensacola (50 MW). Construction is slated to begin early next year, with the projects reaching commercial operation by the fourth quarter of 2016.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
January 30, 2015
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