August 28, 2016 2:38 AM ET

Electric Utilities

Company Overview of Georgia Power Co.

Company Overview

Georgia Power Company generates, purchases, transmits, distributes, and sells electricity in Georgia. The company generates electricity from coal, nuclear, and natural gas sources, as well as renewable sources, such as solar, hydroelectric, and wind. As of April 28, 2016, it served 2.5 million residential, commercial, industrial, and other clients in 4 of Georgia's 159 counties. Georgia Power Company sells electricity at retail in approximately 600 communities, including Athens, Atlanta, Augusta, Columbus, Macon, Rome, and Savannah, as well as in rural areas; and at wholesale to Oglethorpe Power Corporation, municipal electric authority of Georgia, city of Dalton, various electric membership...

241 Ralph McGill Boulevard, N.E.

Atlanta, GA 30308

United States

Founded in 1927

7,989 Employees

Phone:

404-506-6526

Key Executives for Georgia Power Co.

Chairman, Chief Executive Officer, President and Chairman of Executive Committee
Age: 60
Chief Financial Officer, Executive Vice President, Corporate Secretary and Treasurer
Age: 59
Executive Vice President of Nuclear Development, Chief Executive Officer of Southern Power Company and President of Southern Power Company
Age: 54
Executive Vice President of Customer Service and Operations
Age: 58
Senior Vice President and Senior Production Officer of Generation - Southern Company
Age: 47
Compensation as of Fiscal Year 2016.

Georgia Power Co. Key Developments

Georgia Power Co. Wins $80 Million Federal Contract

Georgia Power Co. was awarded an $80 million federal contract by the U.S. Army Contracting Command for electrical distribution services. The place of performance will be at Fort Stewart, Georgia.

Georgia Power Company Approves Amendments to Bylaws

On August 17, 2016, the Board of Directors of Georgia Power Company approved certain amendments to the company's Bylaws effective as of August 17, 2016. Sections 6 and 8 of the Bylaws were amended to allow for electronic transmission of notices of annual meetings and special meetings to any stockholder that has given consent to receive notice by electronic transmission. Section 10 was amended to limit the service of directors, other than directors who are full-time employees of the Company, to no more than 12 years unless otherwise determined by the Board of Directors.

Department of Justice and EPA Announce $29 Million Settlement for Cleanup Work at Coastal Georgia Superfund Site

The Department of Justice and the U.S. Environmental Protection Agency (EPA) announced that Honeywell International Inc. and Georgia Power Company have agreed to clean up the 760-acre saltwater marsh at the LCP Chemicals Superfund Site in Brunswick, Georgia. The settlement requires the companies to spend an estimated $28.6 million to remove and isolate contaminated sediments in the marsh and to monitor the long-term effectiveness of the work. Between 1919 and 1994, the LCP Chemicals site hosted a petroleum refinery, an electric power generation facility and various manufacturing operations, including a mercury cell chlor-alkali plant. These industrial activities led to widespread contamination of the site's soil, groundwater, surface water and sediment with mercury, polychlorinated biphenyls (PCBs) and other hazardous substances. The site was placed on the federal Superfund list in 1996. The cleanup work required by the settlement includes dredging and installing protective caps on portions of four tidal creeks, placing a layer of clean sediment on eleven acres of marsh and restoring areas disturbed by construction. The work is expected to reduce concentrations of mercury, PCBs, lead and polycyclic aromatic hydrocarbons in the marsh's sediments. Additionally, capping the contaminants in place will prevent them from moving throughout the marsh and contaminating its animal life. The settling parties will also monitor the remedy's long-term effectiveness at reducing risks to human health and the environment. EPA and potentially responsible parties, including Honeywell International Inc. and Georgia Power Company, began response work at the site in 1994. Since then, EPA has overseen the demolition of contaminated buildings, the dredging and excavation of 13 acres of marsh and the removal of contaminated soil and waste from the site's upland areas. This settlement marks an important step in the remediation of the site's tidal marsh and creeks, which comprise one of the three areas into which the site has been divided. EPA will address the site's groundwater and upland areas in future actions. The cleanup is being accomplished under the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as Superfund. The Superfund law protects human health and the environment while safeguarding taxpayer dollars by holding parties that contributed to contamination responsible for cleaning it up. Since 1980, EPA's Superfund program has managed the cleanup of the nation's most hazardous waste sites and has responded to environmental emergencies, oil spills and natural disasters.

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