Southern Company CEO receives national award for leading nuclear development with Vogtle construction

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Mar 17, 2015, 02:00 ET

ATLANTA, March 17, 2015 /PRNewswire/ -- The National Labor and Management Public Affairs Committee (LAMPAC) has named Southern Company Chairman, President and CEO Thomas A. Fanning as a recipient of the 2015 John D. Dingell Award. Fanning and North America's Building Trades Unions President Sean F. McGarvey will be presented the award at a reception in Washington, D.C. this evening. Fanning and McGarvey were recognized for their shared commitment to new nuclear development and partnership in building two of the nation's first nuclear units in more than 30 years at Southern Company subsidiary Georgia Power's Plant Vogtle.

Named for the longest-serving member of Congress, the John D. Dingell Award is presented to leaders whose efforts have helped to advance the common objectives of the electric power industry and International Brotherhood of Electrical Workers (IBEW) members. Mr. Dingell served as Chairman of the House Energy and Commerce Committee for many years, where he amassed an impressive record of accomplishments on a wide range of issues, many of which focused on labor management collaboration.

"Leading the way in new nuclear development requires a shared focus on safety and quality as the highest priorities," said Fanning. "This award is a tribute to the thousands of men and women dedicated to ensuring nuclear remains a dominant solution for America's energy future through the construction of Vogtle units 3 and 4."

Under Fanning's leadership, the Southern Company system has committed $20 billion to developing the full portfolio of energy resources – nuclear, 21st century coal, natural gas, renewables and energy efficiency. As part of this commitment, Georgia Power's Plant Vogtle units 3 and 4 are designed to generate enough combined electricity to power 500,000 homes and businesses. The Vogtle project is the largest job-producing project in Georgia, currently employing more than 5,500 construction workers onsite, and will result in 800 permanent jobs when the plant begins operating.

Subsidiary Southern Nuclear is overseeing the construction and will operate the units for Georgia Power and co-owners Oglethorpe Power Corporation, the Municipal Electric Authority of Georgia and Dalton Utilities. Southern Nuclear currently operates Plant Vogtle's two existing nuclear power units, as well as Georgia Power's Plant Hatch and subsidiary Alabama Power's Plant Farley. These facilities provide 20 percent of the electricity used in Alabama and Georgia.

Fanning's nuclear leadership extends beyond Southern Company. He is a member of the Institute of Nuclear Power Operations board of directors and the World Association of Nuclear Operators – Atlanta Centre governing board. In addition, Fanning serves as chairman of the Electricity Subsector Coordinating Council, vice chairman of the Edison Electric Institute (EEI), a member of the international advisory board of the Atlantic Council and chair of the board of directors of the Federal Reserve Bank of Atlanta.

National LAMPAC – a joint effort of EEI and IBEW – is a labor and management public affairs committee created in 2008 to advance the common objectives of the electric power industry and IBEW members. Through National LAMPAC, labor leaders and electric utility executives advance the common goals of a well-managed, efficient business, with a ready supply of qualified, skilled workers and the hope of greater prosperity and growth.

With more than 4.5 million customers and approximately 46,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier energy company serving the Southeast through its subsidiaries. A leading U.S. producer of clean, safe, reliable and affordable electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for energy innovation, excellent customer service, high reliability and retail electric prices that are below the national average. Southern Company and its subsidiaries are leading the nation's nuclear renaissance through the construction of the first new nuclear units to be built in a generation of Americans and are demonstrating their commitment to energy innovation through the development of a state-of-the-art coal gasification plant. Southern Company has been recognized by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, listed by DiversityInc as a top company for Blacks and designated a 2014 Top Employer for Hispanics by Hispanic Network. The company received the Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Electric Light & Power magazine's Utility of the Year for 2012 and is continually ranked among the top utilities in Fortune's annual World's Most Admired Electric and Gas Utility rankings. Visit our website at www.southerncompany.com.

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 future capital expenditures and generation capacity and job creation related to Plant Vogtle units 3 and 4. Southern Company cautions that there are certain factors that could 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; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Southern Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: the impact of recent and future federal and state regulatory changes, as well as changes in application of existing laws and regulations; the ability to control costs and avoid cost overruns during the development and construction of facilities, which include the development and construction of generating facilities with designs that have not been finalized or previously constructed, including changes in labor costs and productivity, adverse weather conditions, shortages and inconsistent quality of equipment, materials, and labor, contractor or supplier delay, non-performance under construction or other agreements, operational readiness, including specialized operator training and required site safety programs, unforeseen engineering or design problems, start-up activities (including major equipment failure and system integration), and/or operational performance (including additional costs to satisfy any operational parameters ultimately adopted by the Georgia Public Service Commission ("PSC")); the ability to construct facilities in accordance with the requirements of permits and licenses, to satisfy any operational and environmental performance standards, including any Georgia PSC requirements and the requirements of tax credits and other incentives, and to integrate Plant Vogtle units 3 and 4 into the Southern Company system upon completion of construction; legal proceedings and regulatory approvals and actions related to Plant Vogtle units 3 and 4, including Georgia PSC approvals and Nuclear Regulatory Commission actions and related legal proceedings involving the commercial parties; the inherent risks involved in operating and constructing nuclear generating facilities, including environmental, health, regulatory, natural disaster, terrorism, or financial risks; and the ability of counterparties of Georgia Power to make payments as and when due and to perform as required. Southern Company expressly disclaims any obligation to update any forward-looking information.

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