Southern Q2 2010 Earnings Call Transcript

Southern (SO)

Q2 2010 Earnings Call

July 28, 2010 1:00 pm ET

Executives

Glen Kundert - Vice President of Investor Relations

Thomas Fanning - Chief Operating Officer and Executive Vice President

W. Bowers - Chief Financial Officer and Executive Vice President

David Ratcliffe - Chairman, Chief Executive Officer and President

Analysts

Michael Lapides - Goldman Sachs Group Inc.

Dan Eggers - Crédit Suisse AG

Greg Gordon - Morgan Stanley

Paul Patterson - Glenrock Associates

Vedula Murti - Tribeca Global Management

Angie Storozynski - Macquarie Research

James von Riesemann

Paul Ridzon - KeyBanc Capital Markets Inc.

Ali Agha - SunTrust Robinson Humphrey Capital Markets

Carrie Saint Louis - Fidelity

Marc de Croisset - FBR Capital Markets & Co.

Nathan Judge - Atlantic Equities LLP

Dan Jenkins - State of Wisconsin Investment Board

Raymond Leung - Goldman Sachs

Daniele Seitz - Dahlman Rose

Steven Fleishman - BofA Merrill Lynch

Presentation

David Ratcliffe

Thanks, Glenn, and good afternoon, and thanks to all of you for joining us. I'm sure most of you are aware by now the changes in our senior management team that we announced yesterday. With my retirement from Southern Company on December 1, we have begun a transition in the office of the Chief Executive. Tom Fanning, who many of you know very well from his four years as Chief Financial Officer, will become President of Southern Company on August 1. Tom is also with us on the call this afternoon. Paul Bowers will be moving to Georgia Power on August 13 as Chief Operating Officer, while Art Beattie, who is also with us today, will become the Chief Financial Officer. Tom, Paul and Art are key members of our management team and are well prepared for their new assignments, and I know will do an outstanding job for us.

As you can see from the materials we released this morning, we had a good second quarter, which was influenced by favorable weather and the continuing economic recovery here in the Southeast. Since our last earnings call in April. We've had three significant new regulatory developments in our Retail business, including a rate case filing by Georgia Power. Paul will cover the rate case filing in more detail in a few minutes.