August 20, 2017 12:29 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 coal, nuclear, and natural gas sources, as well as renewable sources, such as solar, hydroelectric, and wind. As of February 20, 2017, it served 2.5 million residential, commercial, industrial, and other clients 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 Oglethorpe Power Corporation, municipal electric authority of Georgia, city of Dalton, various electric membership corpor...

241 Ralph McGill Boulevard, N.E.

Atlanta, GA 30308

United States

Founded in 1927

7,527 Employees

Phone:

404-506-6526

Key Executives for Georgia Power Co.

Chairman, Chief Executive Officer and President
Age: 61
Chief Financial Officer, Executive Vice President, Corporate Secretary and Treasurer
Age: 60
Chief Executive Officer of Southern Power Company and President of Southern Power Company
Age: 55
Chief Administrative Officer, Senior Vice President and General Counsel of Southern Power
Age: 48
SVP, Senior Production Officer and SVP of Southern Company Services
Age: 53
Compensation as of Fiscal Year 2017.

Georgia Power Co. Key Developments

Georgia Power Announces Placement of First Steam Generator at Vogtle Nuclear Expansion Near Waynesboro, Georgia

Georgia Power announced that the first steam generator has been placed at the Vogtle nuclear expansion near Waynesboro, Georgia. The 1.4 million-pound steam generator was lifted into the Unit 3 nuclear island on August 15, 2017 and marks the first major lift under the recently finalized service agreement with Westinghouse which places Southern Nuclear in charge of oversight activities at the construction site. The new nuclear units at Plant Vogtle are the first to be built in the United States in more than 30 years.

Georgia Power Co. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Georgia Power Co. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company has posted operating revenues of $2,048 million against $2,051 million a year ago. EBIT was $551 million against $565 million a year ago. Net income available to company was $347 million against $349 million a year ago. For the six months, the company has posted operating revenues of $3,880 million against $3,923 million a year ago. EBIT was $971 million against $998 million a year ago. Net income available to company was $607 million against $618 million a year ago.

Georgia Power Declares Regular Quarterly Dividends for the Quarter Ending September 30, 2017, Payable on October 1, 2017

The finance committee of the board of directors of Georgia Power has declared the regular quarterly dividends on the company's outstanding Class A Preferred Stock ($25 Capital Value)as follows: 6 1/8% - $0.3828125. These dividends are for the quarter ending September 30, 2017, payable on October 1, 2017, to shareholders of record on September 15, 2017.

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