Southern Company (the) · NYSE:SO

Southern Company (the) — Q1 2013 Earnings Presentation

12 slides from Southern Company (the)'s earnings presentation, Apr 24, 2013

  1. Slide 1: First Quarter 2013 Earnings Conference Call

    First Quarter 2013 Earnings Conference Call April 24, 2013

  2. Slide 2: Cautionary Note Regarding Forward-Looking Statements

    Cautionary Note Regarding Forward-Looking Statements Certain information contained in this presentation is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning complet

  3. Slide 3: Vogtle Units 3 & 4 – Construction

    Vogtle Units 3 & 4 – Construction Unit 3 Unit 4  First nuclear island concrete complete  Waterproof membrane installation Progress  Set containment cradle in place  Turbine island basemat installation  Turbine island construction to grade  Cooling tower foundation complete Upcoming • Install r

  4. Slide 4: Kemper Project Update

    Kemper Project Update  Mississippi PSC recently approved two-step rate increase associated with the Kemper Project  7-year rate plan is pending approval at the Mississippi PSC and is expected to result in no further changes to base rates for the Kemper project through 2020  Construction progress

  5. Slide 5: Diverse Energy Portfolio – Recent Additions

    Diverse Energy Portfolio – Recent Additions Campo Verde Solar Facility Georgia Power - Wind Energy  139MW PV Solar  Two long-term agreements with  Partnership with Turner EDP Renewables Renewable Energy  Energy from 2 wind farms with  20 year PPA with San Diego capacity totaling 250MW in Gas &

  6. Slide 6: Q1 2013 Earnings Results

    Q1 2013 Earnings Results Q1 Earnings Per Share $0.09 Impact of increase in Kemper cost estimate $0.38 Impact of Leverage Lease Restructure $0.02 Q1 Earnings Per Share ex-items $0.49 6

  7. Slide 7: Q1 2013 vs. Q1 2012 Adjusted EPS Drivers

    Q1 2013 vs. Q1 2012 Adjusted EPS Drivers 1¢ -1¢ 1¢ -1¢ 5¢ -1¢ 1¢ -1¢ $0.49 Other Non-Fuel PPA D&A Operating O&M Expense Other Other Income Revenues Taxes Income Taxes 4¢ Weather $0.42 -1¢ Customer Other Traditional Usage Revenue Operating Effects Companies +7¢ Q1 2012 Q1 2013 ex-items* * Excludes -2

  8. Slide 8: Retail Sales and Economic Outlook

    Retail Sales and Economic Outlook Retail Sales vs. 2012 As Reported Weather Normal* Residential 8.3% -0.9% Commercial 1.2% 0.4% Industrial -2.1% -2.1% Total Retail Sales 2.3% -0.9%  Additional 13K new residential customers added in Q1 2013 across the system  Robust pipeline of economic development

  9. Slide 9: New Dividend Rate = $2.03 per share

    New Dividend Rate = $2.03 per share* 262 consecutive quarters of flat or increasing dividend payments +7¢* (12 years of increases) +7¢ +7¢ +7¢ +7¢ +7¢ +6¢ +6¢ +6¢ +3¢ +3¢ +3¢ 9 * Approved by the Southern Company Board of Directors on April 15, 2013

  10. Slide 10: Q2 Estimate = $0.68 per share

    2013 Earnings Per Share Q2 Estimate = $0.68 per share 10

  11. Slide 11: Appendix

    Appendix SOUTHERN PX COMPANY

  12. Slide 12: Generation Portfolio Diversity

    Generation Portfolio Diversity Capacity Factors Q1 2012 2013 Coal - PRB 52% 62% Coal - Non-PRB 25% 25% Gas - Combined Cycle 68% 70% Generation Mix Q1 2012 2013 Gas/Oil 45% 47% Coal 32% 32% Nuclear 19% 16% Hydro 4% 5% 12

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