Virginia OKs Southern Company-AGL Resources merger plan

Virginia regulators this week approved a merger between Southern Company and AGL Resources, which owns Virginia Natural Gas and serves an estimated 290,000 customers with natural gas service in southeastern Virginia.

When the merger is finalized, the two companies will make up the second-biggest utility  inside the U.S., based on customer base.

Atlanta-based Southern Company alone has 4.5 million customers and an estimated 46,000 megawatts of generating capacity.

AGL Resources, also based in Atlanta, provides natural gas distribution, wholesale services, retail operations and midstream operations to 4.5 million utility customers. In addition, AGL serves more than 1 million retail customers with its Pivotal Home Solutions and SouthStar Energy Services.

The merger will unite 11 regulated electric and natural gas distribution companies serving an estimated 9 million customers. The companies will join their electric-transmission operations, which cover approximately 200,000 miles, as well as distribution lines.

The combined company will have over 80,000 miles of gas pipelines and 46,000 megawatts of electric-generating capacity.

The merger should be completed by the second half of this year.

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