Mississippi Power (MSPWP) 8-K Results of Operations and Financial Condition

Exhibit 99.03
Southern Company
Significant Factors Impacting EPS
	Three Months Ended March
		2011	2010		Change
Consolidated Earnings Per Share–
As Reported (See Notes)		$0.50	$0.60		$(0.10)
Significant Factors:
Traditional Operating Companies					(0.12)
Southern Power					0.03
Additional Shares					(0.01)
Total–As Reported				$	(0.10)
Notes
- For the three months ended March 31, 2011 and 2010, dilution does not change basic earnings per share by more than 1 cent and is not material.
- 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-Q.