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Southern Energy Consolidating Trading in Atlanta

Southern Energy Consolidating Trading in Atlanta

Southern Company Energy Marketing - the marketing joint venture of Southern Company unit Southern Energy and Vastar Resources' Vastar Gas Marketing and Vastar Power Marketing -- plans to move some of its Houston employees, mainly traders, to its Atlanta office.

Houston-based cash gas trading activities will move to Atlanta to join the company's other trading activities in gas and power. Other employees besides traders will be moving as well. "It has yet to be determined exactly who and how many will move," a spokesman said. "It's one of these things we'll see how market conditions develop over the next year."

The decision was made last month, and the target date for the beginning of the move is next fall, when an Atlanta trading floor is expected to be ready. Southern Company Energy Marketing has about 400 employees, about 120 are currently in Houston, 270 in Atlanta and a handful at offices in California and Massachusetts. Remaining in Houston will be the company's financing arm, Energy Capital, which has about a dozen Houston employees. Improved efficiency is the reason for the change, the spokesman said. He said the company will add to its Atlanta staff, but numbers and a time frame were not yet known.

Joe Fisher, Houston

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