SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 7, 2004
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Commission Registrant, State of Incorporation, I.R.S. Employer
File Number Address and Telephone Number Identification No.
1-3526 The Southern Company 58-0690070
(A Delaware Corporation)
270 Peachtree Street, N.W.
Atlanta, Georgia 30303
(404) 506-5000
1-6468 Georgia Power Company 58-0257110
(A Georgia Corporation)
241 Ralph McGill Boulevard, N.E.
Atlanta, Georgia 30308
(404) 506-6526
1-5072 Savannah Electric and Power Company 58-0418070
(A Georgia Corporation)
600 East Bay Street
Savannah, Georgia 31401
(912) 644-7171
333-98553 Southern Power Company 58-2598670
(A Delaware Corporation)
270 Peachtree Street, N.W.
Atlanta, Georgia 30303
(404) 506-5000
The addresses of the registrants have not changed since the last report.
This combined Form 8-K is filed separately by four registrants: The Southern
Company, Georgia Power Company, Savannah Electric and Power Company and Southern
Power Company. Information contained herein relating to each registrant is filed
by each registrant solely on its own behalf. Each registrant makes no
representation as to information relating to the other registrants.
Item 5. Other Events and Regulation FD Disclosure.
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For information regarding the construction of Plant McIntosh combined cycle
units 10 and 11 by Southern Power Company (Southern Power), Georgia Public
Service Commission (GPSC) certification of purchased power agreements between
Southern Power and Georgia Power Company (Georgia Power) and Savannah Electric
and Power Company (Savannah Electric) for the Plant McIntosh unit 10 and 11
capacity beginning June 2005 (the McIntosh PPAs), and the Federal Energy
Regulatory Commission (FERC) approval process for the McIntosh PPAs, see Item
7-- MANAGEMENT'S DISCUSSION AND ANALYSIS - "Future Earnings Potential -- FERC
Matters" of The Southern Company (Southern Company), Georgia Power and Southern
Power under "Market-Based Rate Authority" and of Savannah Electric under
"Southern Power PPA" and Note 3 to the financial statements of Southern Company,
Georgia Power, Savannah Electric and Southern Power under "FERC Matters" in the
Annual Report on Form 10-K for the year ended December 31, 2003. Also see
MANAGEMENT'S DISCUSSION AND ANALYSIS - "Future Earnings Potential -- FERC
Matters" and Note (C) to the Condensed Financial Statements of Southern Company,
Georgia Power, Savannah Electric and Southern Power in the Quarterly Report on
Form 10-Q for the quarter ended March 31, 2004.
To ensure the timely completion of construction on McIntosh units 10 and 11
and their availability in the summer of 2005 as supply side resources for the
retail customers in the State of Georgia, on May 7, 2004, Georgia Power and
Savannah Electric requested the GPSC to direct them to purchase the McIntosh
combined cycle units 10 and 11 construction project from Southern Power. Georgia
Power and Savannah Electric propose to place the units in rate base at a cost
approved by the GPSC and to recover the unit operation and maintenance costs as
retail service expenses as may be approved by the GPSC. Georgia Power and
Savannah Electric propose to complete the purchase within 30 days.
After the project is purchased by Georgia Power and Savannah Electric, the
McIntosh PPAs would no longer be effective. Therefore, Georgia Power and
Savannah Electric propose to file an application within 10 days of completing
the purchase to amend the resource certificate granted by the GPSC in 2002 to
describe the capacity resource as being the McIntosh units 10 and 11 (as opposed
to the McIntosh PPAs), the approximate construction schedule (which is not
expected to change) and the proposed ratebase treatment.
The ultimate outcome of this matter cannot now be determined.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, each of the registrants has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date: May 7, 2004 THE SOUTHERN COMPANY
By /s/Tommy Chisholm
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Tommy Chisholm
Secretary
GEORGIA POWER COMPANY
SAVANNAH ELECTRIC AND POWER COMPANY
SOUTHERN POWER COMPANY
By /s/Wayne Boston
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Wayne Boston
Assistant Secretary