Southern Company Named Energy Company of the Year

S&P Global Platts honor also includes 'Strategic Deal of the Year'

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Dec 12, 2016, 02:38 ET

ATLANTA, Dec. 12, 2016 /PRNewswire/ -- A year of significant growth in an active industry helped Southern Company (NYSE: SO), the country's premier energy company, claim two of the energy industry's most prized recognitions last week at the Platts Global Energy Awards.

Southern Company – which grew to become the second largest U.S. utility this year – was named the "Energy Company of the Year" at the 18th annual Platts awards gala, held in New York and often described as the "Oscars" of energy.

Jim Kerr, executive vice president, general counsel and chief compliance officer of the Southern Company, accepted the awards on behalf of Southern Company.

Platts recognized Southern Company as a leader among its peers in diversity, scope, technological innovation, consumer care and environmental concern. Award winners were chosen from more than 170 nominees from 30 countries.

"On behalf of our more than 31,000 employees, I am truly honored to be recognized with these prestigious awards," Southern Company Chairman, President and CEO Thomas A. Fanning said. "Southern Company has built a long-term record of success – for more than a century – by adhering to a customer-focused business model. We remain committed to meeting customers' energy needs today while building the future of energy through cutting-edge research and technology."

Southern Company also received the "Strategic Deal of the Year" award for its merger with AGL Resources. Platts recognized Southern Company for completing the $12 billion deal in just 10 months and doubling its customer base to 9 million.

The merger strengthened Southern Company's ability to deliver even greater customer and shareholder value by playing offense in developing the infrastructure necessary to meet America's growing energy demands by delivering tomorrow's energy solutions. The strategic combination also brought together two utilities with similar business models and values – each recognized for outstanding reliability, world-class customer service and a commitment to inventing America's energy future.

Southern Company was also a finalist in the "CEO of the Year" and "Industry Leadership for Power" categories. Platts described the company as "strategic," "diverse" and "dynamic" – and judges applauded both the company and Fanning, a 35-year veteran of the firm, for a reputation for providing strong financial performance. Platts also praised the company's evolution to become one of the most diversified and admired electric and gas utilities.

"We congratulate Southern Company for its impressive dual win," said Martin Fraenkel, president of Platts. "In this low-price environment, it is no small feat for Southern Company to deliver ever-improving dividends to its shareholders and an ever-expanding footprint. Southern Company, as all of the Global Energy Awards winners and the finalists alike, are to be applauded for their impressive contributions to the world's energy arena."

About Southern Company

Southern Company (NYSE: SO) is America's premier energy company, with 44,000 megawatts of generating capacity and 1,500 billion cubic feet of combined natural gas consumption and throughput volume serving 9 million electric and gas utility customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric utilities in four states, natural gas distribution utilities in seven states, a competitive generation company serving wholesale customers across America and a nationally recognized provider of customized energy solutions, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and affordable prices that are below the national average. Through an industry-leading commitment to innovation, Southern Company and its subsidiaries are inventing America's energy future by developing the full portfolio of energy resources, including carbon-free nuclear, 21^st century coal, natural gas, renewables and energy efficiency, and creating new products and services for the benefit of customers. Southern Company has been named by the U.S. Department of Defense and G.I. Jobs magazine as a top military employer, recognized among the Top 50 Companies for Diversity by DiversityInc, listed by Black Enterprise magazine as one of the 40 Best Companies for Diversity and designated a Top Employer for Hispanics by Hispanic Network. The company has earned a National Award of Nuclear Science and History from the National Atomic Museum Foundation for its leadership and commitment to nuclear development 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.

About Platts

Founded in 1909, Platts is the commodities information arm of S&P Global and a premier source of benchmark price references, with news, data and information coverage spanning biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemicals, shipping and sugar.

SOURCE Southern Company