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July 30, 2015 12:41 PM 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 nuclear fuel, coal, and natural gas, as well as renewable sources, such as solar, hydroelectric, and wind. It serves to 2.4 million customers in 4 of Georgia's 159 counties. The 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 various electric membership corporations and non-affiliated utilities. It primarily serves residential, commercial, and industrial clients. The company was founded in 1927 and is based in Atl...

241 Ralph McGill Boulevard, N.E.

Atlanta, GA 30308

United States

Founded in 1927

7,909 Employees

Phone:

404-506-6526

Key Executives for Georgia Power Co.

Chairman, Chief Executive Officer, President and Chairman of Executive Committee
Age: 58
Chief Financial Officer, Executive Vice President and Treasurer
Age: 58
Executive Vice President of Nuclear Development
Age: 53
Senior Vice President and Senior Production Officer of Generation - Southern Company
Age: 46
Chief Compliance Officer, Senior Vice President, General Counsel and Corporate Secretary
Age: 54
Compensation as of Fiscal Year 2015.

Georgia Power Co. Key Developments

Georgia Power Company Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Georgia Power Company announced earnings results for the second quarter and six months ended June 30, 2015. For the quarter, operating revenues were $2,016 against $2,186 million for the same period in the last year. Earnings before income taxes was $462 million against $493 million for the same period in the last year. Net income available to common was $277 million against $311 million for the same period in the last year. For the six months, operating revenues were $3,994 against $4,455 million for the same period in the last year. Earnings before income taxes was $842 million against $929 million for the same period in the last year. Net income available to common was $513 million against $577 million for the same period in the last year.

Georgia Power Receives Approval for Marine Corps Logistics Base Albany Solar Project

Georgia Power announced a new, on-base 46 megawatt AC solar facility planned at the Marine Corps Logistics Base Albany. The project was approved by the Georgia Public Service Commission and will be the fifth large-scale solar project to be developed by Georgia Power in coordination with the military. The company is currently working under a memorandum of understanding with the Department of the Navy to finalize project details. With the approval of the new MCLB Albany project, Georgia Power expects to have more than 160 MW of on-base solar online by the end of 2016. Other major projects in progress with the military include the Georgia 3x30 with the U.S. Army, three 30 MW solar projects under construction at Fort Benning, Fort Gordon and Fort Stewart, and a 30 MW solar facility with the DON at SUBASE Kings Bay near St. Marys, Georgia. The MCLB Albany solar facility is expected to be built and placed in service by the end of 2016. As with the company's other four military projects, the facility will be brought online at or below Georgia Power's avoided cost - the amount projected it would cost the company to generate comparable energy from other sources.

Georgia Power Announces Development of New 30 Megawatt AC Solar Generation Facility at Naval Submarine Base Kings Bay in St. Marys

Georgia Power announced the development of a new 30 megawatt (MW) AC solar generation facility at Naval Submarine Base (SUBASE) Kings Bay in St. Marys, Ga. The company recently executed a real estate outgrant with the Department of the Navy (DON) which authorizes the company to use land on the base for the solar project. The agreement marks the start of a new collaboration between DON and Georgia Power where the company will develop renewable energy that will further diversify the company's energy portfolio and increase DON's energy security. The outgrant provides Georgia Power access to 258 acres of land at SUBASE Kings Bay for the development of ground-mounted solar photovoltaic (PV) panels to deliver energy to the state's electric grid. The company expects to break ground on the project late summer and bring the facility online by the end of 2016. The project will be brought online at or below the company's avoided cost, the amount projected it would cost the company to generate comparable energy from other sources. The solar project at SUBASE Kings Bay is estimated to represent a $75 million investment at the installation.

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