Georgia Power named 2014 Investor-Owned Utility of the Year by Solar Electric Power Association

Company a leader in cost-effective solar development; anticipates more than 900 MW in place by 2016

News provided by

Oct 22, 2014, 08:15 ET

ATLANTA, Oct. 22, 2014 /PRNewswire/ -- The Solar Electric Power Association (SEPA) has announced that Georgia Power has been selected by a panel of judges as the 2014 Investor-Owned Utility of the Year. SEPA, an educational non-profit organization dedicated to helping utilities integrate solar energy into their portfolios, made the announcement Tuesday at its annual Solar Power International Conference in Las Vegas. Georgia Power Chairman, President and CEO Paul Bowers was on hand to accept the award on behalf of the company.

"We continue to cultivate solar resources as part of a balanced, diverse mix to provide Georgians with clean, reliable and affordable energy now and in the future," said Bowers. "We're honored to receive this award as it recognizes the benefit to customers of Georgia's constructive regulatory environment and long-standing coordination with the Public Service Commission."

Georgia Power, in coordination with the Georgia Public Service Commission, continues to implement innovative solar programs, such as the Advanced Solar Initiative (ASI), which tap into Georgia's competitive solar marketplace. The structure of these programs has enabled the company to add solar resources in a way that takes advantage of decreasing technology costs and provides the maximum value for customers. Most recently, Georgia Power filed for certification of more than 500 MW of utility scale solar power purchase agreements as part of its competitive ASI selection process – the largest acquisition of solar resources in Georgia to date.

"Georgia Power is to be commended for its whole-hearted response to calls from customers and stakeholders to become a leader in the development of solar in the state," said Julia Hamm, president and CEO of SEPA. "Its ability to, in short order, develop a significant portfolio of solar projects at affordable prices should be a model for utilities everywhere. Competitive solar is here today."

As it does with all advances in the energy industry, Georgia Power has long monitored and studied the evolution of solar generation to leverage technology improvements to the benefit of customers. In 2011, the company announced efforts to bolster its solar portfolio by launching the 50-MW Large Scale Solar (LSS) program. This was followed in 2012 by the ground-breaking ASI program, which sought 210 MW of small, medium and large-scale solar resources. In 2013, the company built on the ASI program by issuing a request for an additional 525 MW of solar resources from the Georgia market. In May, the company forged a collaborative agreement with the U.S. Army Office of Energy Initiatives (formerly the Energy Initiatives Task Force) to build, own and operate three separate projects of up to 30 MW each on several Georgia Army bases.

With new solar facilities planned or under construction across the state, Georgia currently sustains one of the fastest growing solar industries in the country. By the end of 2016, Georgia Power anticipates that it will have procured more than 900 MW from new solar generation – the largest voluntary portfolio in the nation – and that more than 500 new solar projects may be constructed in Georgia as a result of its programs.

For more information on Georgia Power's solar programs, including the ASI and resources available for customers considering solar energy, visit www.georgiapower.com/solar. To learn more about SEPA and the Investor-Owned Utility of the Year Award, visit www.solarelectricpower.org.

About Georgia Power
Georgia Power is the largest subsidiary of Southern Company (NYSE: SO), the premier energy company serving the Southeast through its subsidiaries. Value, Reliability, Customer Service and Stewardship are the cornerstones of the company's promise to 2.4 million customers in all but four of Georgia's 159 counties. Committed to delivering clean, safe, reliable and affordable energy at rates below the national average, Georgia Power maintains a diverse, innovative generation mix that includes nuclear, advanced coal and natural gas, renewables such as solar, hydroelectric and wind, as well as a variety of energy efficiency programs. Consistently recognized as a leader in customer service, Georgia Power was recently ranked highest in overall business customer satisfaction among large utilities in the South by J.D. Power and Associates. For more information, visit www.GeorgiaPower.com and connect with the company on Facebook (Facebook.com/GeorgiaPower) and Twitter (Twitter.com/GeorgiaPower).

Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the completion of ongoing construction projects and projected installed capacity of solar generation resources. Georgia Power Company cautions that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Georgia Power Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Georgia Power Company's Annual Report on Form 10-K for the year ended December 31, 2013, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: ability to control costs and avoid cost overruns during the development and construction of facilities, to construct facilities in accordance with the requirements of permits and licenses, to satisfy any operational and environmental performance standards, including the requirements of tax credits and other incentives, and to integrate facilities or operations; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Georgia Power Company. Georgia Power Company expressly disclaims any obligation to update any forward-looking information.

Logo - http://photos.prnewswire.com/prnh/20050216/CLW066LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/georgia-power-named-2014-investor-owned-utility-of-the-year-by-solar-electric-power-association-327604825.html

SOURCE Georgia Power