| Exhibit 99.04 |
| Southern Company |
| EPS Earnings Analysis |
| Three Months Ended June 2011 |
| Cents | Description | ||||
| 2¢ | Retail Sales | ||||
| 14 | Retail Revenue Impacts | ||||
| 1 | Weather | ||||
| (1) | Wholesale Revenues | ||||
| 1 | Other Operating Revenues | ||||
| (5) | Depreciation & Amortization | ||||
| (2) | Other Income & Deductions | ||||
| 1 | Interest Expense | ||||
| (1) | Taxes Other Than Income Taxes | ||||
| (1) | Income Taxes | ||||
9¢ | Total Traditional Operating Companies | ||||
| 2 | Southern Power | ||||
| (2) | Increase in Shares | ||||
9¢ | Total Change in QTD EPS |
| Notes | |||||
| - | Information contained in this report is subject to audit and adjustments. Certain classifications and rounding may be different from final results published in the Form 10-Q. | ||||