FERC approves Southern Company power marketing unit

The Southern Company, the nation’s largest producer of electric power, received permission today from the Federal Energy Regulatory Commission to begin marketing electricity outside its traditional service area through its new power marketing subsidiary, Southern Energy Marketing Inc.

Southern Energy will buy and sell electricity to and from utilities outside the Southern Company system as well as independent power producers and other buyers and sellers of wholesale power.

Southern Energy’s activities will be administered by employees of Southern Electric International, the independent power subsidiary of The Southern Company. Southern Electric International President Tom Boren will serve as the new company’s chief executive, in addition to his current duties.

“Southern Energy will be The Southern Company’s vehicle for taking greater advantage of our power marketing expertise in this new, competitive area of the electricity business,” Boren said.

In addition to its headquarters in Atlanta, Southern Energy has opened offices in San Francisco to serve the California regional market and in Vancouver, Wash., to serve the Pacific Northwest. Additional offices will be established in other key market regions, Boren said.

The Southern Company (NYSE: SO) is also the parent firm of five electric utilities: Alabama Power, Georgia Power, Gulf Power, Mississippi Power, and Savannah Electric. Other subsidiaries include Southern Nuclear, Southern Development and Investment Group, and Southern Company Services. Together, these companies make up one of the largest electric utility groups in the United States. The Southern Company’s common stock is one of the 20 most widely held corporate stocks in America.