SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 2, 1997
THE SOUTHERN COMPANY
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(Exact name of registrant as specified in its charter)
Delaware 1-3526 58-0690070
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
270 Peachtree Street, N.W., Atlanta, Georgia 30303
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (770) 393-0650
N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
On July 2, 1997, the new Labour government in the United Kingdom ("UK")
introduced its first budget which includes a "one-off windfall levy on the
excess profits of the privatised utilities." Based upon the method by which the
government proposes to calculate the tax, South Western Electricity plc ("SWEB")
estimates its liability to be approximately 97 million pounds sterling
(approximately $160 million). The tax is proposed to be payable in two equal
installments on or before December 1, 1997 and December 1, 1998. The proposed
budget is expected to be approved by the UK Parliament by the end of July 1997.
SWEB is a wholly-owned subsidiary of Southern Investments UK plc
("SIUK"). The Southern Company indirectly owns 75% of the ordinary share capital
of SIUK; PP&L Resources, Inc. indirectly owns the remaining 25%.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE SOUTHERN COMPANY
By: /s/Tommy Chisholm
Tommy Chisholm
Secretary
Date: July 16, 1997
