Southern Co. CEO Touts Country-wide Growth
"We are standing on the doorstep of some of America's largest
energy-consuming markets: Boston, New York City, Chicago,
Dallas-Fort Worth, San Francisco and Los Angeles. We believe there
will be about a half-dozen national energy providers. Southern
Company intends to be one of those companies."
Southern Company CEO Bill Dahlberg told 1,000 people at the
company's annual meeting the landscape of the future energy
business will be dominated by a few companies "who get their
strategies right." By purchasing and operating generating assets
that total more than 12,000 megawatts in New England, California,
the Midwest and Texas and complement its position as a major trader
and marketer of power and natural gas, Southern Company is
positioning itself to be a leading energy provider in the United
States, he said.
Southern Company said it plans to increase its earnings per
share growth from a range of 5-6% to 6-8% off its base of earnings
"In April, we sent a very clear signal to the market when we
announced plans to purchase up to 50 million of our own shares over
the next two years. We believe our strategies will result in the
best shareholder return available, and we could no longer ignore
the terrific value our shares represent."
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