SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 5, 2005
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Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
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1-3526 The Southern Company 58-0690070
(A Delaware Corporation)
270 Peachtree Street, N.W.
Atlanta, Georgia 30303
(404) 506-5000
1-3164 Alabama Power Company 63-0004250
(An Alabama Corporation)
600 North 18th Street
Birmingham, Alabama 35291
(205) 257-1000
1-6468 Georgia Power Company 58-0257110
(A Georgia Corporation)
241 Ralph McGill Boulevard, N.E.
Atlanta, Georgia 30308
(404) 506-6526
0-2429 Gulf Power Company 59-0276810
(A Maine Corporation)
One Energy Place
Pensacola, Florida 32520
(850) 444-6111
001-11229 Mississippi Power Company 64-0205820
(A Mississippi Corporation)
2992 West Beach
Gulfport, Mississippi 39501
(228) 864-1211
1-5072 Savannah Electric and Power Company 58-0418070
(A Georgia Corporation)
600 East Bay Street
Savannah, Georgia 31401
(912) 644-7171
333-98553 Southern Power Company 58-2598670
(A Delaware Corporation)
270 Peachtree Street, N.W.
Atlanta, Georgia 30303
(404) 506-5000
The addresses of the registrants have not changed since the last report.
This combined Form 8-K is filed separately by seven registrants: The Southern
Company, Alabama Power Company, Georgia Power Company, Gulf Power Company,
Mississippi Power Company, Savannah Electric and Power Company, and Southern
Power Company. Information contained herein relating to each registrant is filed
by each registrant solely on its own behalf. Each registrant makes no
representation as to information relating to the other registrants.
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
See Note 3 to the financial statements of Southern Company, Alabama
Power, Georgia Power, Gulf Power, Mississippi Power, and Savannah Electric and
Note 2 to the financial statements of Southern Power, all under "Market-Based
Rate Authority," in Item 8 of the Annual Report on Form 10-K for the year ended
December 31, 2004 (Form 10-K) for information on the Federal Energy Regulatory
Commission's (FERC) April 2004 order adopting a new interim analysis for
measuring generation market power and a proceeding initiated by the FERC in
December 2004 to assess Southern Company's generation dominance within its
retail service territory. See also Note 3 to the financial statements of
Southern Company, Georgia Power, and Savannah Electric and Note 2 to the
financial statements of Southern Power, all under "Plant McIntosh Construction
Project," in Item 8 of the Form 10-K for information relating to the withdrawal
of an application to the FERC to approve Power Purchase Agreements (PPAs)
between Southern Power and Georgia Power and Savannah Electric and the FERC's
notice accepting the request to withdraw the PPAs.
On May 5, 2005, the FERC initiated a new proceeding to examine (1) the
provisions of the Intercompany Interchange Contract (IIC) among Alabama Power,
Georgia Power, Gulf Power, Mississippi Power, Savannah Electric, Southern Power,
and Southern Company Services, Inc., as agent, under the terms of which the
power pool of Southern Company is operated, and, in particular, the propriety of
the continued inclusion of Southern Power as a party to the IIC, (2) whether any
parties to the IIC have violated the FERC's standards of conduct applicable to
utility companies that are transmission providers, and (3) whether Southern
Company's code of conduct defining Southern Power as a "system company" rather
than a "marketing affiliate" is just and reasonable. The FERC order directs that
the administrative law judge who presided over the McIntosh PPA proceeding be
assigned to preside over the hearing in this proceeding and that the testimony
and exhibits presented in that proceeding be preserved to the extent
appropriate. Beginning 60 days after notice of the issuance of the order is
published in the Federal Register, revenues from transactions under the IIC
involving any Southern Company subsidiaries will be subject to refund to the
extent the FERC orders any changes to the IIC.
Also on May 5, 2005, the FERC issued an order expanding the generation
market power proceeding initiated in December 2004 to include an investigation
of whether Southern Company satisfies the other three parts of the FERC's
market-based rate analysis: transmission market power, barriers to entry, and
affiliate abuse or reciprocal dealing. The FERC established a new refund period
related to this expanded investigation. Any and all new market-based rate
transactions involving any Southern Company subsidiaries will be subject to
refund to the extent the FERC orders lower rates beginning 60 days after notice
of the issuance of the order is published in the Federal Register. The FERC also
directed that this expanded proceeding be held in abeyance pending the outcome
of the proceeding on the IIC.
Southern Company and its subsidiaries believe that there is no
meritorious basis for these allegations and intend to vigorously defend
themselves in the proceedings. However, the final outcome of these matters,
including any remedies to be applied in the event of an adverse ruling in either
of these proceedings, cannot now be determined.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
each of the registrants has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: May 9, 2005 THE SOUTHERN COMPANY
By
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W. Dean Hudson
Comptroller
ALABAMA POWER COMPANY
GEORGIA POWER COMPANY
GULF POWER COMPANY
MISSISSIPPI POWER COMPANY
SAVANNAH ELECTRIC AND POWER COMPANY
SOUTHERN POWER COMPANY
By
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Wayne Boston
Assistant Secretary