Southern, Providence Energy join forces in New England

Southern Company subsidiary Southern Energy Inc. and Providence Energy Corp. of Rhode Island have formed a new company to sell electricity, natural gas and energy services in New England.

“Working together in New England, our two companies can become one of the top retail energy marketers in the region,” said Tom Boren, president and chief executive officer of Southern Energy. “Providence Energy has an excellent understanding of the customers and the retail gas business. Southern Energy brings to New England Southern Company’s vast experience in providing retail electricity and wholesale energy.”

The new company, called Providence Southern Energy, will tailor services to the needs of residential, commercial and industrial customers. Both companies already have gained expertise in such areas as unified billing, energy consulting and energy use analysis, in the process developing the computer software and other tools necessary to provide such services.

“We are delighted with the expanded energy management opportunities the new company will be able to provide to customers across New England,” said James H. Dodge, president, chief executive officer and chairman of Providence Energy Corp.

Atlanta-based Southern Company (NYSE: SO), the United States’ largest producer of electricity, provides energy to eight countries on four continents. It is the parent firm of five electric utilities: Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric.

It also markets energy-related services and mobile radio services under the Southern Company name. Its Southern Energy Inc. subsidiary provides power marketing and energy trading services to wholesale and retail customers throughout North America. Southern Energy also develops, builds, owns and operates power production and delivery facilities and provides a broad range of services in the U.S. and international markets.

Southern Company’s common stock is one of the 20 most widely held corporate stocks in America.

Providence Energy Corp. (NYSE: PVY), based in Providence, R.I., is a diversified energy services company. The corporation owns and operates two natural gas distribution companies: Providence Gas Company, Rhode Island’s oldest and largest gas distributor, and North Attleboro Gas Company in Massachusetts.


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