Southern Co. and AGL Resources won unanimous regulatory approval of the companies' proposed merger from the Georgia Public Service Commission, with all intervening parties in support of the recently announced settlement agreement.
When completed, the combination of Southern Co. and AGL Resources would unite two Georgia-based energy companies and is expected to create the second-largest utility company in the U.S. by customer base, bringing together:
· Eleven regulated electric and natural gas distribution companies providing service to about 9 million customers;
· Operations of nearly 200,000 miles of electric transmission and distribution lines;
· More than 80,000 miles of gas pipelines; and
· About 44,000 MW of electricity generating capacity.
· Southern Co. is already one of the largest consumers of natural gas in America, with that fuel accounting for nearly half of the electricity generated to serve customers' needs. Southern Co.'s full portfolio of energy resources also includes carbon-free nuclear, 21st century coal, one of America's largest renewable energy portfolios and energy efficiency.
A natural extension of the company's commitment to finding real solutions for America's energy future, Southern Co.'s pending acquisition of AGL Resources will help address one of the key challenges facing the energy industry — developing the infrastructure necessary to send low-priced natural gas to areas where it is increasingly needed.