Electric utility holding
company serving the Southeast.
Headquarters: 30 Ivan Allen Jr. Blvd. NW
Atlanta, GA 30308
CEO: Thomas Fanning
Stock Symbol: SO
Southern Company operates regulated regional
electric utilities that serve a 120,000-square-mile territory
in Alabama, Florida, Georgia, and Mississippi. Southern's competitive
generation business extends to markets in six southeastern states.
The company's four electric utilities
Alabama Power, Georgia Power, Gulf Power, and Mississippi Power
serve more than 4.4 million retail customers including 3.75 million residential users.
Southern has more than 42,000 megawatts of electric generating capacity. It has responsibility for approximately $6.2 billion in transmission assets including more than 27,000 miles of transmission lines, 3,700 substations, and more than 300,000 acres of right of way.
Other major subsidiaries and business units include Southern Nuclear, the licensed operator of Southern Company's three nuclear generating plants in Alabama and Georgia; SouthernLINC Wireless, a communications network with 127,000 square-mile coverage area in the Southeast; and Southern Telecom, a fiber optic wholesaler in the Southeast.
In 2011, Southern Company reported revenues of $17.6 billion and net income of $2.2 billion.
The history of Southern Company can be
traced back to the mid-1920s, when Alabama Power, Georgia Power,
Gulf Power, and Mississippi Power became an interconnected system
under a holding company known as Southeastern Power & Light.
The purpose of the integration was to enable each company to
provide more reliable service to its operating areas and to supply
a source of capital funds to the companies for construction purposes.
In 1930, Southeastern Power & Light
merged into the Commonwealth & Southern Corporation to form
a system that included five Northern companies and six Southern
companies. However, in the late 1940s Commonwealth & Southern
was dissolved to meet the Public Utility Holding Company Act
of 1935. The dissolution was necessary because the 11 companies
of Commonwealth & Southern did not have integrated operations
or interconnected lines.
Four of the Southern companies - Alabama
Power, Georgia Power, Gulf Power, and Mississippi Power - were
deemed to be an integrated system and thus were allowed to remain
under common ownership, this time under a new holding company
- Southern Company.
The new holding company was incorporated
in Delaware on November 9, 1945 and moved to Georgia in 1950.
The year 1949 saw Southern Company's first full year of operation.
At that time, Southern Company purchased all of the service company's
common stock and the personnel of the holding company became
employees of Southern Company Services. Southern Company began
trading on the New York Stock Exchange as SO soon thereafter.
The company offers a wide variety of market-competitive
benefit choices to full-time and regular part-time (minimum 20
hours per week) active employees and their families. Benefits
and services listed may not apply to employees covered by a collective
bargaining unit agreement.
* Health and Wellness
* Retirement and Financial Planning
* Time Off
* Additional Benefits
Health and Wellness - available upon employment
Cost shared between Southern Company and
* Medical Plans
Single and family coverage is available on your first day
of work. Options and costs may vary by coverage level, company,
work location and residence. Plan options feature preferred-provider
* Prescription Drugs
Prescription drug benefits are available based on your
medical plan choices.
* Mental Health and Substance Abuse Treatment Mental health
and substance abuse treatments are available based on your medical
* Long-Term Disability Plan Provides 50% or 60% of your base
monthly salary, subject to a maximum benefit and offsets as defined
in the policy, in case you become totally disabled. Benefits
begin 180 days after total disability.
* Life Insurance - employee only $12,500 coverage paid by
Southern Company - additional coverage in the amount of $37,500
or multiples of 1 to 5 times your annual base salary can be purchased
by the employee at competitive group rates.
Cost paid by Southern Company:
* Employee Assistance Program (EAP)
Provides confidential assistance and referral services
to employees with alcohol, drug abuse and/or emotional problems.
This program is also available for your family.
* Business Travel Insurance
You are eligible for coverage equal to three times annual
base salary, with a minimum of $120,000 and a maximum of $600,000.
Cost paid by the employee at competitive
* Dental Plan
Several options for single or family coverage are available.
* Accidental Death and Dismemberment Insurance
You are eligible for insurance in amounts ranging from
$50,000 to $500,000. You may also insure your spouse for up to
100% of your coverage and your child for up to 30% of your coverage.
* Accident and Sickness Insurance
Provides short-term protection against loss of income in
case you become disabled by sickness or accidental injury.
* Dependent Life Insurance
You are eligible to choose life insurance for a spouse
from $10,000 to $100,000 of coverage and for a child for $5,000
to $15,000 of coverage.
* Flexible Spending Accounts (Tax Saver)
You may contribute pre-tax dollars to either or both of
two spending accounts to cover (1) certain out of pocket health-care
expenses from your medical and dental plans and (2) certain dependent
Retirement and Financial Planning
Employee Savings Plan - eligible upon employment
The company currently matches 85% on the first 6% of base pay you contribute. You may contribute 1% to 25% of your base pay to a traditional ESP account on either a before-tax or after-tax basis or contribute to a Roth 401(k) account on an after-tax basis.
Defined Benefit Pension Plan - eligible after one year of eligibility service:
You may receive a monthly retirement
income for life and, at your option, your spouse may receive
a monthly income for life following your death. Normal retirement
is generally at age 65. Early retirement is permitted between
ages 50 (with 10 years accredited service) and 65, subject to
the conditions of the plan. You are fully vested after five years
of plan vesting service.
As a Southern Company employee, you
will have access to a number of financial planning resources.
We have made arrangements with several major investment and financial
planning vendors to provide individual financial counseling to
New hires are eligible for up to
ten days (two weeks) vacation based on the month hired. For example,
employees hired between January and March will receive ten days
for that year, between April and June eight days, between July
and September six days, and between October and December four
days. Three, four and five weeks of vacation begin in the calendar
year in which you complete five, fifteen and twenty-five years
of service, respectively.
Ten annual paid holidays (specific
days vary by subsidiary).
Leaves of Absences
Under the federal Family and Medical
Leave Act, you may be able to take up to 12 work-weeks of job-protected
leave for certain family and medical situations. You must use
all paid leave available to you first. The rest of the 12 weeks
will be unpaid leave.
(call to active duty)
Supplemental pay may be granted,
depending upon the type of military leave and your length of
service. Seniority continues to accrue while you are on leave
provided you fulfill the provisions required under the Uniformed
Services Employment and Reemployment Rights Act of 1994.
The Tuition Reimbursement (TR) program
is designed to help defray the cost of continuing education.
Eligible expenses for approved programs of studies may be reimbursed
up to $5000 per year.
Additional Group Benefits
Southern Company has negotiated competitive
group rates for the following benefits: legal, long-term care,
auto and homeowners insurance. Note: Legal plan becomes available
during annual enrollment. Enrollment in a vision discount program
is automatic and the program benefits are provided at no cost
to all Southern Company employees.
Matching Gifts to Educational Institutions
The purpose of the Educational Matching
Gift Program is to encourage employees and retirees of Southern
Company Services to join the Company in its financial support
of higher educational institutions. Southern Company Services
matches, dollar for dollar, donations made by qualified individuals,
up to $5,000 per year, to the eligible institutions of their
choice. For more information click this link. https://www.easymatch.com/southernco
U.S. Savings Bond Program
You may purchase bonds through payroll
deduction by calling National Bond and Trust at 1-800-426-9314.
Credit Union Membership and Services
Member-owned financial institution
provides savings, checking and lending services.
You will receive a service award
upon completion of each five years of service.
Updated October 7, 2012