Southern Company Approved to Form New Unit
There will be a new member in the Southern Company family: Southern Company received final approval from the Securities and Exchange Commission to form a new subsidiary, Southern Power.
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Southern Power will own, manage and finance wholesale generating assets in the Southeast. Southern Company expects Southern Power will be its primary growth engine for its market-based energy business.
By 2005, Southern Company expects Southern Power to have developed or acquired more than 7,500 megawatts directed to competitive wholesale business.
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© 2012 Penton Media Inc.
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