Southern Power to help meet Cobb EMC members' energy needs

News provided by

Dec 14, 2012, 02:30 ET

ATLANTA, Dec. 14, 2012 /PRNewswire/ -- Southern Power, a Southern Company subsidiary, has been selected to supply Cobb Electric Membership Corporation (EMC) electricity to supplement its current generation resources for a seven-year period beginning in 2016. The power purchase agreement – which calls for the sale of at least 325 megawatts annually – is the first such contract between Southern Power and Marietta, Ga.-based Cobb EMC.

"We look forward to providing value to Cobb EMC and its members through this contract," said Southern Power President and CEO Oscar Harper. "We are very proud of the partnership this represents between our companies, and we will continue to build on this foundation for the future."

The power purchase agreement resulted from a request for proposals issued by Cobb EMC in late 2011. Southern Power will supply Cobb EMC electricity generated using the company's existing resources.

"Solidifying Cobb EMC members' long-term power needs is a major accomplishment that helps our members through pricing stability for years to come," said Cobb EMC President and CEO Chip Nelson. "The agreement with Southern Power was reached after an extensive review of multiple proposals. We look forward to a long-term relationship with Southern Power."

Southern Power is among the largest wholesale energy providers in the Southeast, meeting the electricity needs of municipalities, electric cooperatives and investor-owned utilities. The company owns and operates more than 8,600 megawatts with facilities in Alabama, Florida, Georgia, Nevada, New Mexico, North Carolina and Texas and has an additional 30 megawatts under construction in Nevada.

Cobb EMC is a not-for-profit electric membership cooperative providing reliable electric energy. Formed in 1938, Cobb EMC started as an electric utility with 489 residential members and 14 commercial accounts. Serving approximately 196,000 meters representing more than 176,000 residential and commercial customers, Cobb EMC is one of the largest of Georgia's 42 EMCs, and is among the largest of the nation's approximately 900 EMCs.

The Cobb EMC distribution system consists of approximately 10,500 miles of line located within Cobb, Bartow, Cherokee, Fulton and Paulding counties in the north metro Atlanta area and Randolph, Calhoun, Quitman and Clay counties in Southwest Georgia. Cobb EMC's distribution system covers approximately 1,434 square miles. In 2011, Cobb EMC sold more than 3.9 billion kilowatt hours of electricity with revenue exceeding $441 million. In 2012, Cobb EMC completed its state of the art smart grid metering system. In addition, Cobb EMC has one of the more advanced distribution systems in the nation. As a not-for-profit, member-owned corporation, Cobb EMC is dedicated to providing its members with the best service at the lowest possible price. Visit our website at www.cobbemc.com.

With 4.4 million customers and more than 43,000 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 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 and listed by DiversityInc as a top company for Blacks. The company received the 2012 Edison Award from the Edison Electric Institute for its leadership in new nuclear development, was named Platts' 2011 Power Company of the Year 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.

SOURCE Southern Power