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Southern Co. CEO Touts Country-wide Growth

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 2000.

"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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ISSN © 2577-9877 | ISSN © 1532-1266
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