Southern Company, AGL Resources receive merger approval from California regulators

ATLANTA,  March 22, 2016 – Southern Company (NYSE: SO) and AGL Resources (NYSE: GAS) have  received unanimous regulatory approval of the companies' proposed merger from  the California Public Utilities Commission.

AGL  Resources is the parent company of Central Valley Gas Storage, a natural gas  storage facility located in the Sacramento River valley.

When  completed, the combination of Southern Company and AGL Resources is expected to  create the second-largest utility company in the U.S. by customer base, bringing  together:

  • Eleven regulated electric and natural gas  distribution companies providing service to approximately 9 million customers;
  • Operations of nearly 200,000 miles of  electric transmission and distribution lines;
  • More than 80,000 miles of gas pipelines; and
  • Approximately 44,000 megawatts of electricity  generating capacity.

The companies expect to complete the  transaction in the second half of 2016. For more information about the proposed  merger, visit


About Southern Company 
  With  more than 4.5 million customers and approximately 44,000 megawatts of  generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier  energy company serving the Southeast through its subsidiaries. A leading U.S.  producer of clean, safe, reliable and affordable electricity, Southern Company  owns electric utilities in four states and a growing competitive generation  company, as well as fiber optics and wireless communications. Southern Company  brands are known for excellent customer service, high reliability and affordable  prices that are below the national average. Through an industry-leading  commitment to innovation, Southern Company and its subsidiaries are inventing  America’s energy future by developing the full portfolio of energy resources,  including nuclear, 21st century coal, natural gas, renewables and energy  efficiency, and creating new products and services for the benefit of  customers. Southern Company has been named by the U.S. Department of Defense  and G.I. Jobs magazine as a top military employer, listed by Black Enterprise  magazine as one of the 40 Best Companies for Diversity and designated a 2014  Top Employer for Hispanics by Hispanic Network. The company earned the 2014  National Award of Nuclear Science and History from the National Atomic Museum  Foundation for its leadership and commitment to nuclear development, and is  consistently ranked among the top utilities in Fortune's annual World’s Most  Admired Electric and Gas Utility rankings. Visit our website at

About  AGL Resources
  AGL  Resources (NYSE: GAS) is an Atlanta-based energy services holding company which  owns and operates natural gas utilities, as well as retail energy and services,  wholesale services and midstream businesses. AGL Resources serves approximately  4.5 million utility customers through its regulated distribution subsidiaries  in seven states. The company also serves more than one million retail customers  through its SouthStar Energy Services joint venture and Pivotal Home Solutions,  which market natural gas and related home services. Other non-utility  businesses include asset management for natural gas wholesale customers through  Sequent Energy Management and ownership and operation of natural gas storage  facilities. AGL Resources is a Fortune 500 company and a member of the S&P  500 Index. For more information, visit

Cautionary  Statements Regarding Forward-Looking Information
  This  release contains forward-looking statements which are made pursuant to safe  harbor provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include statements, among other things,  concerning the expected timing of the completion of the proposed merger and the  expected benefits thereof. These forward-looking statements are often  characterized by the use of words such as "expect,"  "anticipate," "plan," "believe," "may,"  "should," "will," "could," "continue"  and the negative or plural of these words and other comparable terminology.  Although Southern Company and AGL Resources believe that the expectations  reflected in such forward-looking statements are reasonable, such statements  involve risks and uncertainties and undue reliance should not be placed on such  statements. Certain material factors or assumptions are applied in making  forward-looking statements, including, but not limited to, factors and  assumptions regarding the items outlined above. Actual results may differ  materially from those expressed or implied in such statements. Important  factors that could cause actual results to differ materially from these  expectations include, among other things, the following: the failure to  receive, on a timely basis or otherwise, the required approvals by government  or regulatory agencies (including the terms of such approvals); the possibility  that long-term financing for the transaction may not be put in place prior to  the closing; the risk that a condition to closing of the merger or the committed  financing may not be satisfied; the possibility that the anticipated benefits  from the transaction cannot be fully realized or may take longer to realize  than expected; the possibility that costs related to the integration of  Southern Company and AGL Resources will be greater than expected; the credit  ratings of the combined company or its subsidiaries may be different from what  the parties expect; the ability to retain and hire key personnel and maintain  relationships with customers, suppliers or other business partners; the  diversion of management time on transaction-related issues; the impact of  legislative, regulatory and competitive changes; and other risk factors  relating to the energy industry, as detailed from time to time in each of  Southern Company's and AGL Resources' reports filed with the Securities and  Exchange Commission. There can be no assurance that the transaction will in  fact be consummated. 
  Additional  information about these factors and about the material factors or assumptions  underlying such forward-looking statements may be found in the body of this  release, as well as under Item 1.A in each of Southern Company's and AGL  Resources' Annual Reports on Form 10-K for the fiscal year ended December  31, 2015. Southern Company and AGL Resources caution that the foregoing list of  important factors that may affect future results is not exhaustive. When  relying on forward-looking statements to make decisions with respect to  Southern Company and AGL Resources, investors and others should carefully  consider the foregoing factors and other uncertainties and potential events.  All subsequent written and oral forward-looking statements concerning the  transaction or other matters attributable to Southern Company or AGL Resources  or any other person acting on their behalf are expressly qualified in their  entirety by the cautionary statements referenced above. The forward-looking  statements contained herein speak only as of the date of this release. Neither  Southern Company nor AGL Resources undertakes any obligation to update or  revise any forward-looking statement, except as may be required by law.