Status and Outlook - Vogtle Units 3 and 4

Georgia Power has asked the Georgia Public Service Commission to approve its proposal to build two new electric generating units at the Plant Vogtle site in Burke County, Georgia (near Augusta).

The company has filed applications with the U.S. Nuclear Regulatory Commission (NRC) for an Early Site Permit (ESP) and a Combined Construction and Operating License (COL) at Plant Vogtle.

The ESP will allow the NRC to review and pre-approve the plant site for construction and will allow the company to conduct design and construction evaluations and other site-specific assessments before actual construction begins.

The COL provides the company with one license to construct and operate a new plant based on an NRC pre-approved design at a specific site.

Safety and Efficiency
The company has selected the light-water Westinghouse AP1000 technology for the potential new units at Plant Vogtle. More than 30 new nuclear plants are under construction in 12 countries around the world - almost all using light-water reactor technology.

The AP1000 has received design certification from the NRC. The design is safe, efficient and simpler than current models. To learn more about the AP1000, visit the Westinghouse AP1000 Web site at www.ap1000.westinghousenuclear.com.

Timeline
If certified by the Georgia PSC in March 2009, and licensed by the U.S. NRC, Vogtle Units 3 and 4 are expected to be placed in service in 2016 and 2017, respectively.

Ownership
Oglethorpe Power, MEAG Power, and Dalton Utilities submitted the terms and conditions of the proposal to their respective member utilities or boards, which had the option of subscribing to rights to various percentages of the units' output.

On July 2, 2008, Oglethorpe Power, MEAG Power and Dalton Utilities notified Georgia Power that they will maintain the following existing ownership shares in the new units: Oglethorpe Power, 30 percent; MEAG Power, 22.7 percent; and Dalton Utilities, 1.6 percent. Georgia Power's proportionate share is 45.7 percent.

Cost
Georgia Power's proportionate share of the estimated in-service cost of the two units, based on its current ownership interest of 45.7 percent, is approximately $6.4 billion. This figure is subject to adjustments and performance bonuses under the Engineering, Procurement and Construction (EPC) contract.

Rate Impact
While the Georgia PSC will determine the final rate impacts, the company estimates the typical Georgia Power residential customer, using 1,000 kilowatt-hours a month, would see a base rate increase of approximately $12 per month in 2018, when both units are fully operational. The rate impact is expected to decline over time.

Eye on the Future
Southern Company continues to evaluate other sites within its service territory for potential new nuclear development. Evaluating these sites is a part of the company's long-range generation planning process to identify the most cost-effective, reliable and environmentally responsible fuel sources.

Southern Company is a founding member of NuStart Energy Development, a nuclear technology energy consortium comprising power generation companies and reactor vendors. The group is pursuing a new combined construction and operating license process and advancing new nuclear technologies. To learn more about NuStart, visit the consortium's Web site at www.nustartenergy.com.