Alabama Power Company Reports Quarterly Earnings
PRNewswire
BIRMINGHAM, Ala.

Alabama Power today issued the following:

  Company description
  *  Birmingham based investor-owned electric utility; a subsidiary of
     Southern Company .

  Performance
  *  Earnings up for the fourth quarter of 2001 and down for the 12-month
     period ended December 2001.

  Net Income
  *  Fourth Quarter Net Income
     $ 61,854,000 for the fourth quarter of 2001
     $ 40,503,000 for the fourth quarter of 2000

  12 Months Ended Net Income
  *  $ 386,729,000 for the 12-month period that ended December 2001
     $ 419,916,000 for the 12-month period that ended December 2000

  Total Territorial Energy Sales
  *  Fourth Quarter Territorial Energy Sales
     11.8 billion kilowatt-hours for the fourth quarter of 2001
     12.9 billion kilowatt-hours for the fourth quarter of 2000

  12 Months Ended Territorial Energy Sales
  *  53.2 billion kilowatt-hours for the 12-month period that ended December
     2001
  *  56.0 billion kilowatt-hours for the 12-month period that ended December
     2000

Comments -- "Territorial sales continued to decrease in the fourth quarter 2001 due to milder weather and a slowing economy. However, lower non-fuel operating expenses offset the decrease and resulted in the increase in net income for the quarter. Net income for 2001 decreased compared to the year 2000. This was primarily a result of 2001 territorial energy sales being 5% below the prior year due to much milder weather during 2001 and a slowing economy. The lower sales were offset somewhat by a reduction in non-fuel operating expenses." -- William B. Hutchins, III, executive vice president, chief financial officer and treasurer.

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SOURCE: Alabama Power Company

Contact: Darya Braggs of Alabama Power Company, +1-205-257-4155, or
djbraggs@southernco.com