Southern Company and AGL Resources have reached a merger agreement, Southern Company said on Monday.
AGL Resources focuses on retail operation and distribution of natural gas resources and is based in Atlanta. Southern Company said the acquisition of AGL will aid in the development of natural gas distribution infrastructure to the company's service areas.
"The cornerstone strengths of these two companies are commitments to continuous improvement and providing customers with outstanding service and innovative energy solutions," Southern Company Chairman, President and CEO Thomas Fanning said. "With technological advances and customer preferences rapidly changing, the addition of AGL Resources should better position us to provide customers with clean, safe, reliable and affordable energy for decades to come."
Southern Company serves approximately 4.5 million customers and has a generation capacity of approximately 46,000 megawatts.
Both Fanning and AGL CEO and Chairman John Somerhalder said they are looking forward to future possibilities as the two companies merge. They reaffirmed their commitment to the communities in which they
provide their respective services.
Southern Company said that approximately 50 percent of electricity generated by the company utilizes natural gas in some form.
"Southern Company has been innovating around the full portfolio for decades," Fanning said. "And with the evolution of changing regulations and the technology revolution taking place in energy production, Southern Company and AGL Resources will be well-positioned to meet a future that needs more natural gas infrastructure for our customers' benefit."
Southern Company, AGL Resources agree to merger
Organizations in this story
Southern Company 30 Ivan Allen Jr Blvd NW Atlanta, GA 30308
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