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Southern Company first quarter earnings: Mild weather offsets emerging economic growth

ATLANTA April 25, 2012 $368 million 42 cents $422 million 50 cents

$3.60 billion $4.01 billion

Earnings were negatively affected by warmer-than-normal weather during the first quarter of 2012, partially offset by retail revenue effects in the company’s traditional business.

Thomas A. Fanning

Fanning cited stronger-than-expected residential customer growth as the latest indicator of the ongoing economic recovery. Southern Company’s traditional operating companies added approximately 15,000 new residential customers during the first quarter of 2012, a significant increase over the 2,000 customers added during the same period a year ago.

Kilowatt-hour sales to retail customers in the Southern Company system’s four-state service area decreased 5.1 percent in the first quarter of 2012 compared with the first quarter of 2011. Residential and commercial energy sales — both of which were negatively affected by warmer-than-normal weather — decreased 13.7 percent and 3.1 percent, respectively. Industrial energy sales increased 1.9 percent.

Total energy sales to customers, including wholesale sales, decreased 7.3 percent in the first quarter of 2012 compared with the first quarter of 2011.

1 p.m. Eastern time Art P. Beattie http://investor.southerncompany.com/events.cfm

www.southerncompany.com

Atlanta World’s Most Admired Electric and Gas Utility www.southerncompany.com

Cautionary Note Regarding Forward-Looking Statements:

December 31, 2011

SOURCE Southern Company

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