Southern Power 8-K Results of Operations and Financial Condition

   Exhibit 99.02

 Southern Company

 Financial Highlights

 (In Millions of Dollars Except Earnings Per Share)

	Three Months Ended December				Year-to-Date December
		2010		2009		2010		2009
Consolidated Earnings–As Reported
(See Notes)
Traditional Operating Companies	$	146	$	231	$	1,859	$	1,680
Southern Power		24		29		130		156
Total		170		260		1,989		1,836
Parent Company and Other		(17)		(12)		(14)		(193)
Net Income–As Reported	$	153	$	248	$	1,975	$	1,643
Basic Earnings Per Share -	$	0.18	$	0.31	$	2.37	$	2.07
Average Shares Outstanding (in millions)		842		810		832		795
End of Period Shares Outstanding (in millions)						844		820
	Three Months Ended December				Year-to-Date December
		2010		2009		2010		2009
Consolidated Earnings–Excluding Items
(See Notes)
Net Income–As Reported	$	153	$	248	$	1,975	$	1,643
MC Asset Recovery Litigation Settlement		-		-		-		202
Net Income–Excluding Items	$	153	$	248	$	1,975	$	1,845
Basic Earnings Per Share–Excluding Items	$	0.18	$	0.31	$	2.37	$	2.32

Notes

 - For the three months and twelve months ended December 31, 2010 and 2009, dilution does not change basic earnings per share by more than 1 cent and is not material.

 - The charge related to Southern Company's MC Asset Recovery litigation settlement significantly impacted the presentation of earnings and earnings per share for the twelve months ended December 31, 2009, and significant charges related to the Mirant spin-off are not expected to occur in the future.

 - Certain prior year data has been reclassified to conform with current year presentation.

 - Information contained in this report is subject to audit and adjustments.  Certain classifications may be different from final results published in the Form 10-K.