Southern Co., AGL submit approval request to IIllinois authorities

Southern Company and AGL Resources have submitted a request for regulatory approval of a proposed merger of both companies to the Illinois Commerce Commission (ICC). 

If the merger is approved, the combined operations of Southern and AGL would be the second largest utility company currently operating in the U.S. Together they operate 11 electric and natural gas distribution companies and they report a combined approximate of 46,000 megawatts of electricity generating capacity.

AGL is the parent company of Nicor Gas and they provide approximately 2.2 million customers in north and central Illinois with natural gas.

A fact-sheet released by both companies states the merger would enable them to provide enhanced energy services and would also allow them to enhance their economic development capabilities. 

The companies also indicate that AGL and Nicor Gas would benefit from improved financial strength which would benefit its customer base. In the fact sheet, AGL announces the level of support for Illinois community programs would not change. They anticipate that the merger would have a $12 billion transaction value and an equity value of approximately $8 billion. The merger is expected to be completed in the second half of 2016.
Southern Company and AGL Resources have submitted a request for regulatory approval of a proposed merger of both companies to the Illinois Commerce Commission (ICC). 

If the merger is approved, the combined operations of Southern and AGL would be the second largest utility company currently operating in the U.S. Together they operate 11 electric and natural gas distribution companies and they report a combined approximate of 46,000 megawatts of electricity generating capacity.

AGL is the parent company of Nicor Gas and they provide approximately 2.2 million customers in north and central Illinois with natural gas.

A fact-sheet released by both companies states the merger would enable them to provide enhanced energy services and would also allow them to enhance their economic development capabilities. 

The companies also indicate that AGL and Nicor Gas would benefit from improved financial strength which would benefit its customer base. In the fact sheet, AGL announces the level of support for Illinois community programs would not change. They anticipate that the merger would have a $12 billion transaction value and an equity value of approximately $8 billion. The merger is expected to be completed in the second half of 2016.

Organizations in this story

Southern Company 30 Ivan Allen Jr Blvd NW Atlanta, GA - 30308

Get notified the next time we write about Southern Company!