<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
----------------
FORM U5S
ANNUAL REPORT
For the Fiscal Year Ended December 31, 1999
Filed pursuant to the Public Utility Holding Company Act of 1935
by
THE SOUTHERN COMPANY
270 PEACHTREE STREET, N. W.
ATLANTA, GEORGIA 30303
<PAGE>
THE SOUTHERN COMPANY
FORM U5S
1999
TABLE OF CONTENTS
ITEM PAGE NUMBER
---- -----------
1. System Companies and Investments Therein as of
December 31, 1999 1
2. Acquisitions or Sales of Utility Assets 7
3 Issue, Sale, Pledge, Guarantee or Assumptions
of System Securities 7
4. Acquisition, Redemption or Retirement of System
Securities 8
5. Investments in Securities of Nonsystem Companies 10
6. Officers and Directors 11
7. Contributions and Public Relations 47
8. Service, Sales and Construction Contracts 50
9. Wholesale Generators and Foreign Utility Companies 51
10. Financial Statements and Exhibits A
i
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<TABLE>
<CAPTION>
ITEMS
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999.
Name of Company Number of Percentage Issuer
(Add abbreviation Common of Voting Book Owner's
used herein) Shares Owned Power Value Book Value
In Thousands
THE SOUTHERN COMPANY
<S> <C> <C> <C> <C>
(SOUTHERN) None None n/a n/a
ALABAMA POWER COMPANY
(ALABAMA) 5,608,955 100 $2,988,863 $2,988,863
Alabama Energy Providers, Inc. 1,000 100 1 1
Alabama Property Company 1,000 100 9,867 9,867
Alabama Power Capital Trust I
(ALABAMA TRUST I) n/a n/a 3,000 3,000
Alabama Power Capital Trust II
(ALABAMA TRUST II) n/a n/a 6,186 6,186
Alabama Power Capital Trust III
(ALABAMA TRUST III) n/a n/a 1,550 1,550
Southern Electric
Generating
Company (SEGCO) (a) 164,000 50 25,024 25,024
ENERGIA DE NUEVO LEON, S. A.
DE C. V. 358 33 1/3 - -
GEORGIA POWER COMPANY
(GEORGIA) 7,761,500 100 3,938,210 3,938,210
SEGCO (a) 164,000 50 25,024 25,024
Piedmont-Forrest
Corporation (PIEDMONT) 100,000 100 7,326 7,326
13,245 (b) 13,245
Georgia Power LP Holdings Corp.
(GEORGIA POWER HOLDINGS) 500 100 - -
Georgia Power Capital, L.P.
(GEORGIA CAPITAL) n/a n/a 4,426 4,426
Georgia Power Capital Trust I
(GEORGIA TRUST I) n/a n/a 8,711 8,711
Georgia Power Capital Trust II
(GEORGIA TRUST II) n/a n/a 6,629 6,629
Georgia Power Capital Trust III
(GEORGIA TRUST III) n/a n/a 7,011 7,011
<PAGE>
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999.
(Continued)
Name of Company Number of Percentage Issuer
(Add abbreviation Common of Voting Book Owner's
used herein) Shares Owned Power Value Book Value
In Thousands
Georgia Power Capital Trust IV
(GEORGIA TRUST IV) n/a n/a 6,575 6,575
GULF POWER COMPANY (GULF) 992,717 100 422,313 422,313
Gulf Power Capital Trust I
(GULF TRUST I) n/a n/a 1,512 1,512
Gulf Power Capital Trust II
(GULF TRUST II) n/a n/a 1,590 1,590
MISSISSIPPI POWER COMPANY
(MISSISSIPPI) 1,121,000 100 391,968 391,968
Mississippi Power Capital Trust I
(MISSISSIPPI TRUST I) n/a n/a 1,082 1,082
Mississippi Power Services, Inc. 100 100 705 705
MOBILE ENERGY SERVICES
HOLDINGS, INC. (MESH) 1,000 100 (10,655) (10,655)
Mobile Energy Services
Company, LLC (MESCO) n/a 99 30,901 30,901
POWERCALL, INC. 1,000 100 13,510 13,510
SAVANNAH ELECTRIC AND
POWER COMPANY
(SAVANNAH) 10,844,635 100 174,847 174,847
Savannah Electric and Power Capital Trust I
(SAVANNAH ELECTRIC TRUST I) n/a n/a 1,327 1,327
SOUTHERN ENERGY, INC. (Southern Energy) 1,000 100 3,090,877 3,090,877
ASOCIADOS DE ELECTRICIDAD 11,999 (c) (d) (d)
SE FINANCE CAPITAL CORPORATION 1,000 100 (d) (d)
SEI Y ASOCIADOS DE ARGENTINA S. A. 9,840,000 (c) (d) (d)
Hidroelectrica Alicura, S. A. 166,380,000 (c) (d) (d)
SOUTHERN COMPANY CAPITAL
FUNDING, INC. n/a 100 52,625 52,625
SOUTHERN ELECTRIC, INC. 1,000 100 17 17
2
<PAGE>
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999.
(Continued)
Name of Company Number of Percentage Issuer
(Add abbreviation Common of Voting Book Owner's
used herein) Shares Owned Power Value Book Value
In Thousands
SOUTHERN ENERGY FINANCE
COMPANY, INC. 1,000 100 201,094 201,094
DG Lease, Inc. 1,000 100 (d) (d)
EPZ Lease, Inc. 1,000 (c) (d) (d)
EPZ Lease, L.L.C. None (c) (d) (d)
EPZ Lease Holding A, L.L.C. None (c) (d) (d)
EPZ Lease Holding B, L.L.C. None (c) (d) (d)
EPZ Lease Holding C, L.L.C. None (c) (d) (d)
Dutch Gas Lease, Inc. 1,000 (c) (d) (d)
Dutch Gas Lease, L.L.C. None (c) (d) (d)
Dutch Gas Lease Holding A, L.L.C. None (c) (d) (d)
Dutch Gas Lease Holding B, L.L.C. None (c) (d) (d)
Dutch Gas Lease Holding C, L.L.C. None (c) (d) (d)
Southern Energy Clairton, Inc. 1,000 (c) (d) (d)
Southern Energy Clairton, L.L.C. 1,000 (c) (d) (d)
Southern Energy Clairton 2, Inc. 1,000 (c) (d) (d)
Southern Energy Carbontronics, Inc. 1,000 (c) (d) (d)
Southern Energy Carbontronics, L.L.C. 1,000 (c) (d) (d)
SOUTHERN ENERGY RESOURCES, INC.
(Southern Resources) 1,000 100 8,497 8,497
SEI Operadora de Argentina, S. A. 11,999 (c) (d) (d)
Southern Electric International-
Asia, Inc 1,000 (c) (d) (d)
Southern Electric International, GmbH 500 (c) (d) (d)
SOUTHERN ENERGY INTERNATIONAL, 1,000 100 2,562,538 2,562,538
INC.
CAYMAN ENERGY TRADERS 1 (c) (d) (d)
Southern Electric do Brazil Participacoes, Ltda n/a (c) (d) (d)
Companhia Energetica de Minas Gerais n/a (c) (d) (d)
SOUTHERN ELECTRIC INTERNATIONAL
FINANCE, INC 1,000 (c) (d) (d)
SOUTHERN ELECTRIC INTERNATIONAL
NETHERLANDS B.V. 1,000 (c) (d) (d)
SE CHINA INVESTMENTS, INC, 1,000 (c) (d) (d)
Southern Energy Mauritius Limited 1,000 (c) (d) (d)
SEMAR Limited 1,000 (c) (d) (d)
Southern Energy Newco Limited 1,000 (c) (d) (d)
SEI BRAZIL HOLDINGS, INC. 1,000 (c) (d) (d)
SEI SOUTH AMERICA, INC. 1,000 (c) (d) (d)
SOUTHERN ENERGY CARIBE, LTD. 1,000 (c) (d) (d)
3
<PAGE>
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999
(Continued)
Name of Company Number of Percentage Issuer
(Add abbreviation Common of Voting Book Owner's
used herein) Shares Owned Power Value Book Value
In Thousands
SOUTHERN ENERGY - ASIA, INC. 1,000 100 1,502,864 1,502,864
Consolidated Electric Power Asia
Limited (CEPA) (e) 1,066,124,419 (c) (d) (d)
Southern Energy Asia Ventures, Inc. 1,000 (c) (d) (d)
SOUTHERN ENERGY DO BRAZIL, LTDA n/a 99.85 50 50
SOUTHERN ENERGY E ASSOCIADOS
PARTICIPACOES, S.A. n/a 100 81 81
SOUTHERN ENERGY - NEWCO 2, INC. 1,000 100 190,625 190,625
SEI Chile, S. A. 999 (c) (d) (d)
Empresa Electrica del Norte
Grande, S. A. (Edelnor) 158,643,607 (c) (d) (d)
Sitranor S. A. n/a (c) (d) (d)
Energia del Pacifico Limitada 1,000 (c) (d) (d)
Gasoducto Nor Andino
Argentina, S.A. 3,600,000 (c) (d) (d)
Gasoducto Nor Andino S.A. n/a (c) (d) (d)
SEI Beteiligungs GmbH 1 (c) (d) (d)
P. T. Tarahan Power Company n/a (c) (d) (d)
Southern Electric Bahamas
Holdings, Ltd. 1,000 100 45,931 45,931
Southern Electric Bahamas, Ltd. 5,000 (c) (d) (d)
ICD Utilities Limited 2,500,000 (c) (d) (d)
Freeport Power Company Limited 910,809 (c) (d) (d)
SEI WORLDWIDE HOLDINGS, INC. 1,000 (c) (d) (d)
SEI Worldwide Holdings (Germany) GmbH 3 (c) (d) (d)
SEI GERMANY BEWAG, INC. 1,000 (c) (d) (d)
SEI Worldwide Holdings (Germany) GmbH 3 (c) (d) (d)
Southern Energy Development Europa GmbH 1,000 (c) (d) (d)
Southern Energy Holdings Beteiligungs
gesellschaft mbH 3 (c) (d) (d)
BEWAG 29,120,002 (c) (d) (d)
4
<PAGE>
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999
(Continued)
Name of Company Number of Percentage Issuer
(Add abbreviation Common of Voting Book Owner's
used herein) Shares Owned Power Value Book Value
In Thousands
SOUTHERN ENERGY- EUROPE, INC. 1,000 100 407,894 407,894
The Southern Company - Europe plc 50,000 (c) (d) (d)
Southern Energy Development - Europe Limited 2 (c) (d) (d)
Southern Energy Development Hungaria L.L.C. 1,000 (c) (d) (d)
Southern Energy UK Generation Limited 100 (c) (d) (d)
Southern Energy Netherlands Ltd. 55 (c) (d) (d)
Southern Electric International - Europe, Inc. 1,000 (c) (d) (d)
SWEB Holdings UK 12,184,716 (c) (d) (d)
SWEB Holdings Limited 150,000 (c) (d) (d)
Southern Investments UK plc 500,400,587 (c) (d) (d)
South Western Electricity plc (f) 113,989,525 (c) (d) (d)
SOUTHERN ELECTRIC INTERNATIONAL
TRINIDAD, INC. 1,000 100 32,824 32,824
The Power Generation
Company of Trinidad
and Tobago Limited 188,370,000 (c) (d) (d)
SOUTHERN ENERGY NORTH
AMERICA, INC. 500 100 1,110,244 1,110,244
SEI Birchwood, Inc. 1,000 (c) (d) (d)
Birchwood Power Partners, L. P. n/a (c) (d) (d)
Greenhost, Inc. 50 50 (d) (d)
SEI Hawaiian Cogenerators, Inc. 1,000 (c) (d) (d)
SEI New England Holding Corp. 1,000 (c) (d) (d)
Southern Energy New England, L.L.C. 1,000 (c) (d) (d)
Southern Energy Canal, L.L.C. 1,000 (c) (d) (d)
Southern Energy Kendall, L.L.C. 1,000 (c) (d) (d)
Southern Energy Canal III, Inc. 1,000 (c) (d) (d)
Newington Energy L.L.C. 1,000 (c) (d) (d)
SEI New England, Inc. 1,000 (c) (d) (d)
Southern Energy Canal, L.L.C. 1,000 (c) (d) (d)
Southern Energy New England, L.L.C. 1,000 (c) (d) (d)
SEI State Line, Inc. 1,000 (c) (d) (d)
State Line Holding Corporation 1,000 (c) (d) (d)
State Line Energy, L.L.C. n/a (c) (d) (d)
SEI Wisconsin Holdings, Inc. 1,000 (c) (d) (d)
SEI Wisconsin, L.L.C. 1,000 (c) (d) (d)
Southern Energy California, Inc. 1,000 (c) (d) (d)
Southern Energy Potrero, L.L.C. 1,000 (c) (d) (d)
Southern Energy Delta, L.L.C. 1,000 (c) (d) (d)
Southern Energy Bay Area Investments, Inc. 1,000 (c) (d) (d)
Southern Energy Potrero, L.L.C. 1,000 (c) (d) (d)
Southern Energy Delta, L.L.C. 1,000 (c) (d) (d)
Southern Energy - Cajun, Inc. 10,000 (c) (d) (d)
Louisiana Generating L.L.C. n/a (c) (d) (d)
Southern Energy Texas (G.P.), Inc. 1,000 (c) (d) (d)
Southern Energy Central Texas, L.P. 1,000 (c) (d) (d)
5
<PAGE>
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999
(Continued)
Name of Company Number of Percentage Issuer
(Add abbreviation Common of Voting Book Owner's
used herein) Shares Owned Power Value Book Value
In Thousands
SOUTHERN ENERGY NORTH
AMERICA, INC. (continued)
Southern Energy Southwest Investments, Inc. 1,000 (c) (d) (d)
Southern Energy Ventures, Inc. 1,000 (c) (d) (d)
Southern Energy Trading and Marketing, Inc. 1,000 (c) (d) (d)
Southern Energy Retail Trading and
Marketing, Inc. 1,000 (c) (d) (d)
Southern Energy Wichita Falls, L.P. 1,000 (c) (d) (d)
Southern Energy New York G.P., Inc. 1,000 (c) (d) (d)
Southern Energy Hudson Valley Investments, Ltd. 1,000 (c) (d) (d)
Southern Energy Bowline, L.L.C. 1,000 (c) (d) (d)
Southern Energy Lovett, L.L.C. 1,000 (c) (d) (d)
Southern Energy NY - Gen L.L.C. 1,000 (c) (d) (d)
SC Energy Ventures, Inc. 1,000 (c) (d) (d)
Southern Company Energy Marketing L.P. n/a (c) (d) (d)
SC Ashwood Holding, Inc. 1,000 (c) (d) (d)
Southern Company Energy Marketing G.P., L.L.C. n/a (c) (d) (d)
SOUTHERN COMPANY
SERVICES, INC. (SCS) 14,500 100 875 875
SOUTHERN COMMUNICATIONS
SERVICES, INC. (Southern LINC) 500 100 76,768 76,768
84,856 (g) 84,856
SOUTHERN ELECTRIC RAILROAD
COMPANY (SERC) 5,000 100 5 5
SOUTHERN NUCLEAR OPERATING
COMPANY, INC. (Southern Nuclear) 1,000 100 2,952 2,952
5,000 (h) 5,000
SOUTHERN TELECOM, INC. 1,000 100 6,759 6,759
SOUTHERN COMPANY ENERGY
SOLUTIONS, INC. (Energy 500 100 52,501 52,501
Solutions)
6
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<PAGE>
<TABLE>
<CAPTION>
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN AS OF DECEMBER 31, 1999
(Continued)
Notes to Item 1:
<S> <C>
(a) SEGCO is 50% owned by ALABAMA and 50% owned by GEORGIA.
The amounts shown reflect the respective ownership interests of each company.
(b) Promissory note due on demand; interest rate, based on GEORGIA's embedded cost of capital,
was 9.645% at January 1, 2000.
(c) This information is contained in Item 9, Part I(a).
(d) This information is filed confidentially pursuant to Rule 104.
(e) Effective January 1, 2000, Consolidated Electric Power Asia Limited has been renamed Southern Energy Asia-Pacific Limited.
(f) Effective January 1, 2000, South Western Electricity plc has been renamed Western Power Distribution plc.
(g) Unsecured notes payable due on or before December 31, 2000 at an end-of-year interest rate of 5.59%.
(h) Unsecured notes payable due on or before December 31, 2000 at an end-of-year interest rate of 5.74%.
(i) The new companies formed in 1999 are listed below.
Southern Energy Netherlands Management Company, Inc. was incorporated in Delaware in January 1999.
Southern Energy California, LLC was incorporated in California in January 1999.
SEI Texas, L.P. was incorporated in Texas in February 1999.
Southern Producer Services, L.P. was incorporated in Delaware in March 1999.
Southern Energy North America Generating, Inc. was incorporated in Delaware in May 1999.
Southern Energy Canal Holdings, Inc. was incorporated in Delaware in June 1999.
Southern Energy New England (G.P.), Inc. was incorporated in Delaware in July 1999.
Southern Energy Wichita Falls Investments, Inc. was incorporated in Delaware in July 1999.
Southern Energy Wichita Falls Management (G.P.), Inc. was incorporated in Delaware in July 1999.
SE Finance Capital Corporation was incorporated in Delaware in August 1999.
SEI Michigan Holdings, Inc. and SEI Michigan Holdings, LLC were incorporated in Delaware in November 1999.
DG Lease, Inc. was incorporated in October 1999.
Nuon Lease Holding D, L.L.C., Nuon Lease Holding E, LLC, and Nuon Lease Holding F, LLC, were incorporated in November 1999.
GAMOG Lease, Inc., GAMOG Lease Holding G, LLC, GAMOG Lease Holding H, LLC, and GAMOG
Lease Holding I, LLC, were incorporated in December 1999.
ITEM 2. ACQUISITION OR SALES OF UTILITY ASSETS.
NONE.
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM SECURITIES.
NONE.
</TABLE>
7
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<TABLE>
<CAPTION>
ITEM 4. ACQUISITION, REDEMPTION, OR RETIREMENT OF SYSTEM SECURITIES.
Calendar Year 1999
Name of Company Indicate
Name of Issuer and Acquiring, Redeeming Number of Shares or Principal Amount Commission
---------------------------------------
Title of Issue or Retiring Securities Acquired Redeemed Retired Consideration Authorization
------------------ ---------------------- -------- -------- ------- ------------- -------------
(See Note)
ALABAMA:
First Mortgage Bonds
<S> <C> <C> <C> <C> <C> <C>
6.375% Series due 1999 ALABAMA None $170,000,000 $170,000,000 $175,418,750
7.00% Series due 2003 ALABAMA None $125,000,000 $125,000,000 $126,097,917
6.75% Series due 2003 ALABAMA None $175,000,000 $175,000,000 $182,306,250
Pollution Control Revenue Bonds
Series 1994 due 2023 ALABAMANone $101,650,00 $101,650,000 $106,986,625
GEORGIA:
First Mortgage Bonds
7 5/8% Series due 2023 GEORGIA None $84,000,000 $84,000,000 $84,000,000
7.55% Series due 2023 GEORGIA None $120,000,000 $120,000,000 $120,000,000
7.70% Series due 2025 GEORGIA None $5,000,000 $5,000,000 $5,000,000
6 1/8% Series due 1999 GEORGIA None $195,000,000 $195,000,000 $195,000,000
Pollution Control Revenue Bonds
6.35% Series due 2019 GEORGIA None $50,000,000 $50,000,000 $50,000,000
6.60% Series due 2024 GEORGIA None $125,000,000 $125,000,000 $125,000,000
6.375% Series due 2024 GEORGIA None $60,000,000 $60,000,000 $60,000,000
Preferred Stock
$5.00 Series GEORGIA None $434,200 $434,200 $434,200
$4.92 Series GEORGIA None $1,794,000 $1,794,000 $1,794,000
$4.96 Series GEORGIA None $1,163,800 $1,163,800 $1,163,800
$4.60 1962 Series GEORGIA None $1,782,500 $1,782,500 $1,782,500
$4.60 1963 Series GEORGIA None $2,546,200 $2,546,200 $2,546,200
$4.60 1964 Series GEORGIA None $1,100,500 $1,100,500 $1,100,500
$4.72 Series GEORGIA None $1,642,600 $1,642,600 $1,642,600
$5.64 Series GEORGIA None $3,192,300 $3,192,300 $3,192,300
$6.48 Series GEORGIA None $12,000,000 $12,000,000 $12,000,000
$6.60 Series GEORGIA None $10,000,000 $10,000,000 $10,000,000
$4.60 Series GEORGIA $575,100 $0 $575,100 $575,100
GEORGIA CAPITAL
Monthly Income Preferred Securities
9% Series A GEORGIA None $100,000,000 $100,000,000 $100,000,000
8
<PAGE>
ITEM 4. ACQUISITION, REDEMPTION, OR RETIREMENT OF SYSTEM SECURITIES.
Calendar Year 1999
Name of Company Indicate
Name of Issuer and Acquiring, Redeeming Number of Shares or Principal Amount Commission
---------------------------------------
Title of Issue or Retiring Securities Acquired Redeemed Retired Consideration Authorization
------------------ ---------------------- -------- -------- ------- ------------- -------------
(See Note)
GULF:
Senior Notes
6.70% Series due 2038 GULF None $74,000 None $74,000
MISSISSIPPI:
Pollution Control Bonds
5.80% Series due 2007 MISSISSIPPI None $20,000 $20,000 $20,000
Series 1999 Variable Rate MISSISSIPPI $9,400,000 None None None
Senior Notes
6.75% Series due 2038 MISSISSIPPI None $436,010 None $436,010
SAVANNAH:
First Mortgage Bonds
7 7/8% Series due 2025 SAVANNAH None $15,000,000 $15,000,000 $15,251,250
7.40% Series due 2023 SAVANNAH None $800,000 $800,000 $800,000
Note to Item 4: All transactions exempt pursuant to Rule 42(b)(2), (4) or (5) or
authorized in File No. 70-8095 or in the respective proceedings relating to the
issuance and sale of preferred stock.
9
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<PAGE>
ITEM 5. INVESTMENTS IN SECURITIES OF NONSYSTEM COMPANIES.
Number of
Shares or Carrying
Principal Value
Name of Owner Name of Issuer Amount Owned to Owner
- ------------- -------------- ------------ --------
ALABAMA (one item) (1) 204 shares $1
ALABAMA (four items) (2) $1,187,826 $1,187,836
GEORGIA (one item) (3) $5,000,000 $4,785,127
GULF (nine items) (1) 640 shares $1
Energy Solutions (one item) (4) 130,381 shares $1
SAVANNAH (one item) (1) 285 shares $1
Notes to Item 5:
(1) Securities representing bankruptcy distributions applicable to
obligations of customers incurred in the ordinary course of business.
(2) Debt securities issued by instrumentalities of political subdivisions
within ALABAMA's service area to build promotional industrial buildings that
will assist in advancing business and industrial development.
(3) Investment made in a private venture capital fund for the purpose
of assisting early-stage and high technology companies
located principally in the Southeast, with a focus on Georgia-based
firms. (See File No. 70-8085.)
(4) Represents Energy Solutions investment in Integrated Communication
Systems, Inc. (ICS). ICS is engaged in providing
two-way communications over local telephone lines for a wide range
of energy-related services in the residential and small commercial
markets.
10
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART I.
The following are the abbreviations to be used for principal business address
and positions.
Principal Business Address Code
270 Peachtree Street
Atlanta, GA 30303 (a)
600 North 18th Street
Birmingham, AL 35291 (b)
241 Ralph McGill Boulevard, N.E.
Atlanta, GA 30308-3374 (c)
500 Bayfront Parkway
Pensacola, FL 32501 (d)
900 Ashwood Parkway
Suite 500
Atlanta, GA 30338 (e)
2992 West Beach Boulevard
Gulfport, MS 39501 (f)
600 East Bay Street
Savannah, GA 31401 (g)
Suipacha 1111 Piso 18
1368 Buenos Aires, Argentina (h)
LN Alem 712 - Piso 7
(1001) Buenos Aires, Argentina (i)
Apoquindo 3721 Office 114
Las Condes, Chile (j)
Avenida Grecia 750
Casilla 1290
Antofagasta, Chile (k)
800 Park Avenue, Aztec West
Almondsbury, Bristol BS12 4SE (l)
5555 Glenridge Connector
Atlanta, GA 30342 (m)
42 Inverness Center Parkway
Birmingham, AL 35242 (n)
40 Inverness Center Parkway
Birmingham, AL 35242 (o)
1130 Connecticut Ave., NW
Suite 830
Washington, DC 20036 (p)
Position Code
Chairman of the Board CH
Vice Chairman of the Board VCH
Director D
President P
Chief Executive Officer CEO
Chief Financial Officer CFO
Chief Accounting Officer CAO
Chief Information Officer CIO
Chief Operating Officer COO
Chief Production Officer CPO
Senior Executive Vice President SEVP
Executive Vice President EVP
Senior Vice President SVP
Financial Vice President FVP
Vice President VP
Controller/Comptroller C
Counsel L
Secretary S
Treasurer T
General Manager GM
General Partner GP
Managing Director MD
Commissioner M
Manager MA
SOUTHERN
Name and Principal Address (a) Position
Dorrit J. Bern D
450 Winks Lane
Bensalem, PA 19020
Thomas F. Chapman D
1600 Peachtree Street, NW
Atlanta, GA 30309
A. D. Correll D
133 Peachtree Street, N.E.
Atlanta, GA 30303
A. W. Dahlberg D,CH,CEO
H. Allen Franklin D,P,COO
Bruce S. Gordon D
1095 Avenue of the Americas
New York, NY 10036
L. G. Hardman III D
P. O. Box 149
Commerce, GA 30529
Elmer B. Harris (b) D,EVP
Donald M. James D
P. O. Box 385014
Birmingham, AL 35238-5014
David J. Lesar D
3600 Lincoln Plaza
500 North Akard Street
Dallas, TX 75201-3391
11
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART I. (Continued)
SOUTHERN (continued)
Name and Principal Address (a) Position
Zack T. Pate D
700 Galleria Parkway
Atlanta, GA 303339
Gerald J. St. Pe' D
P. O. Box 149
Pascagoula, MS 39568
W. L. Westbrook FVP,CFO,T
S. Marce Fuller (e) EVP
David M. Ratcliffe (c) EVP
Warren Y. Jobe SVP
Gale E. Klappa SVP
Stephen A. Wakefield SVP,L
David R. Altman VP
C. Alan Martin (b) VP
Charles D. McCrary (b) VP
Joseph A. Miller (p) VP
Steven R. Spencer VP
Christopher C. Womack VP
Dr. W. Robert Woodall, Jr. VP
W. Dean Hudson (c) C
Tommy Chisholm S
ALABAMA
Name and Principal Address (b) Position
Whit Armstrong D
P. O. Box 900
Enterprise, AL 36331
David J. Cooper D
118 N. Royal Street
Mobile, AL 36602
H. Allen Franklin (a) D
Elmer B. Harris D,P,CEO
R. Kent Henslee D
754 Chestnut Street
Gadsden, AL 35901
Carl E. Jones, Jr. D
P. O. Box 2527
Mobile, AL 36622
Patricia M. King D
1501 South Quintard Avenue
Anniston, AL 36201
James K. Lowder D
2000 Interstate Park Drive
Suite 400
Montgomery, AL 36109
Wallace D. Malone, Jr. D
P. O. Box 2554
Birmingham, AL 35290
Thomas C. Meredith D
Chancellor of the University of
Alabama
401 Queen City Avenue
Tuscaloosa, AL 35401
Mayer Mitchell D
3800 Airport Boulevard, Suite 301
Mobile, AL 36608
William V. Muse D
Auburn University
107 Samford Hall
Auburn, AL 36849
John T. Porter D
1101 Martin L. King, Jr. Dr. S.W.
Birmingham, AL 35211
Robert D. Powers D
202 East Broad Street
Eufaula, AL 36027
Andreas Renschler D
Mcc Smart GmbH
Dornierstrasse 6
Renningen, Germany
C. Dowd Ritter D
P. O. Box 11007
Birmingham, AL 35288
James H. Sanford D
1001 McQueen Smith Road South
Prattville, AL 36066
John C. Webb, IV D
125 W. Washington Street
Demopolis, AL 36732
Banks H. Farris EVP
Michael D. Garrett EVP
William B. Hutchins, III EVP,CFO
C. Alan Martin EVP
Robin A. Hurst SVP
James H. Miller, III SVP
Rodney O. Mundy SVP,L
Michael L. Scott SVP
Jacquelyn S. Shaia SVP
Jerry L. Stewart SVP
Christopher C. Womack SVP
Robert S. Beason VP
Art P. Beattie VP,C
William W. Cooper VP
C. Stephen Fant VP
Robert Holmes, Jr. VP
J. Bruce Jones VP
Jacki Lowe VP,CIO
Donald W. Reese VP
Julian H. Smith, Jr. VP
William R. Smith VP
Susan N. Story VP
William E. Zales, Jr. VP,S
Cheryl G. Thompson VP
W. Roy Crow VP
Anthony J. Topazi VP
Terry H. Waters VP
12
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
ALABAMA PROPERTY COMPANY
Name and Principal Address (b) Position
Elmer B. Harris D,P
William B. Hutchins, III D,VP
Susan N. Story D,VP
Art P. Beattie C
William E. Zales, Jr. S
J. Randy DeRieux T
ALABAMA ENERGY PROVIDERS, INC.
Name and Principal Address (b) Position
Rodney O. Mundy D
Banks H. Farris D
William B. Hutchins, III D,VP
Michael D. Garrett D
Michael L. Scott D,P
William E. Zales, Jr. S
J. Randy DeRieux T
GEORGIA
Name and Principal Address (c) Position
Daniel P. Amos D
1932 Wynnton Road
Columbus, GA 31999
Juanita Baranco D
7060 Jonesboro Road
Morrow, GA 30260
William A. Fickling, Jr. D
P. O. Box 1976
Macon, GA 31202-1976
H. Allen Franklin (a) D
L. G. Hardman III D
P. O. Box 149
Commerce, GA 30529
James R. Lientz, Jr. D
P. O. Box 4899
Mail Code GAI-006-55-05
Atlanta, GA 30302-4899
Zell Miller D
3455 Peachtree Road, NE
Suite 750
Atlanta, GA 30326
G. Joseph Prendergast D
100 North Main Street
Winston-Salem, NC 27101
David M. Ratcliffe D,P,CEO
Herman J. Russell D
504 Fair Street, S.W.
Atlanta, GA 30313
William Jerry Vereen D
P. O. Box 1663
Moultrie, GA 31776-1663
Carl Ware D
P. O. Box Drawer 1734, Nat 24
Atlanta, GA 30301
William C. Archer, III EVP
Thomas A. Fanning EVP,T,CFO
Gene R. Hodges EVP
Warren Y. Jobe (a) EVP
Charles D. McCrary (b) EVP
Wayne T. Dahlke SVP
James K. Davis SVP
Robert H. Haubein, Jr. (b) SVP
Leonard J. Haynes SVP
Fred D. Williams SVP
Judy M. Anderson VP,S
Robert S. Beason VP
Rebecca A. Blalock VP
Robert L. Boyer VP
M. A. Brown VP
Fred W. DeMent, Jr. VP
A. Bryan Fletcher VP
J. Kevin Fletcher VP
J. B. Manley VP
Cliff Thrasher VP,C,CAO
Jeffrey L. Wallace VP
Christopher C. Womack (a) VP
James A. Wilson VP
Dr. W. Robert Woodall, Jr. (a) VP
PIEDMONT
Name and Principal Address (c) Position
David M. Ratcliffe D,P
Thomas A. Fanning D,EVP,T
Judy M. Anderson D,VP,S
GEORGIA POWER HOLDINGS
Name and Principal Address (c) Position
Thomas A. Fanning D, P,T
Judy M. Anderson VP,S
Charles O. Rawlins (j) VP
SEGCO
Name and Principal Address (b) Position
Robert L. Boyer (c) D
Thomas A. Fanning (c) D
Michael D. Garrett D
Elmer B. Harris D,P
Robert H. Haubein, Jr. D
William B. Hutchins, III D,VP
Charles D. McCrary D,VP
David M. Ratcliffe D
Jerry L. Stewart D
Art P. Beattie C
William E. Zales, Jr. S
J. Randy DeRieux T
13
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
GULF
Name and Principal Address (d) Position
Travis J. Bowden D,P,CEO
Fred C. Donovan, Sr. D
P. O. Box 13370
Pensacola, FL 32591
H. Allen Franklin (a) D
W. Deck Hull, Jr. D
P. O. Box 2266
Panama City, FL 32402
Joseph K. Tannehill D
10 Arthur Drive
Lynn Haven, FL 32444
Barbara H. Thames D
8383 N. Davis Highway
Pensacola, FL 32514
F. M. Fisher, Jr. VP
J. E. Hodges, Jr. VP
Robert G. Moore VP
Arlan E. Scarbrough VP,CFO
Michael L. Scott (b) VP
Christopher C. Womack (a) VP
Ronnie R. Labrato C
Warren E. Tate S,T
ENERGIA de NUEVO LEON, S.A. DE C.V.
Name and Principal Address (e) Position
Marcelo Canales Clarion D
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
William R. Easter D
Jean M. Fauvd D
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
Ismael Garza T. D
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
Tanenguy Le Marechal D
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
Raul Rangel Hinojosa D
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
Santiago C. Reyes Retana D
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
W. Clay Smith D,CH
Andres Gonzalez Sandoval S
Lazaro Cardenas 2400 Despacho
PD-11 PB Edificia Losoles,
Garza Garcia 66220 N. L. Mexico
MISSISSIPPI
Name and Principal Address (f) Position
Edwin E. Downer D
7642 Poplar Springs Drive
Meridian, MS 39305
Dwight H. Evans D,P,CEO
Robert S. Gaddis D
P. O. Box 168
Laurel, MS 39440
Linda T. Howard D
P.O. Box 1588
Laurel, MS 39401
Aubrey K. Lucas D
Box 5164
Hattiesburg, MS 39406
Malcolm Portera D
610 Allen Hall
Mississippi State, MS 39762
George A. Schloegel D
Hancock Bank
P. O. Box 4019
Gulfport, MS 39502
Philip J. Terrell D
701 West North Street
Pass Christian, MS 39571
Gene Warr D
2600 Beach Boulevard
Biloxi, MS 39531
H. Ed Blakeslee VP
Mark S. Lynch VP
Don E. Mason VP
Michael W. Southern VP,CFO,
S,T
Christopher C. Womack (a) VP
Frances V. Turnage C
MISSISSIPPI POWER SERVICES, INC.
Name and Principal Address (f) Position
H. Ed Blakeslee D,P,CEO
Dwight H. Evans D,CH
Don E. Mason D,VP
Michael W. Southern D,VP,T,CFO
Frances V. Turnage C
Vicki L. Pierce S
14
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
MOBILE ENERGY SERVICES HOLDINGS, INC.
Name and Principal Address (e) Position
Kerry E. Adams (n) D
Thomas V. Brown D
S. Marce Fuller D
Alan W. Harrelson D,VP
David T. Gallaspy D,P
Thomas J. Madden, III D
Richard J. Koch VP
Richard J. Pershing D
Fred Stimpson D
Cheryl G. Thompson D
David R. Rozier, Jr. VP
Tommy Chisholm (a) S
MOBILE ENERGY SERVICES COMPANY, LLC
Name and Principal Address (e) Position
David T. Gallaspy P
S. Marce Fuller VP
Raymond D. Hill VP,CFO
Richard J. Koch VP,GM
Tommy Chisholm (a) S
SAVANNAH
Name and Principal Address (g) Position
Gus H. Bell, III D
P. O. Box 14247
Savannah, GA 31416
Archie H. Davis D
P. O. Box 188
Savannah, GA 31402
Walter D. Gnann D
P. O. Box 334
Springfield, GA 31329
G. Edison Holland, Jr. D,P,CEO
Robert B. Miller, III D
P. O. Box 8003
Savannah, GA 31412
Arnold M. Tenenbaum D
P. O. Box 2567
Savannah, GA 31498
W. Miles Greer VP
Leonard J. Haynes VP
Lewis A. Jeffers VP
C. Alan Martin (b) VP
Kirby R. Willis VP,T,CFO
Christopher C. Womack (a) VP
Nancy Frankenhauser S,C
Southern Energy, Inc.
Name and Principal Address (e) Position
A. W. Dahlberg (a) D
H. Allen Franklin (a) D
S. Marce Fuller D,P,CEO
Elmer B. Harris (b) D
W. L. Westbrook (a) D,VP
Raymond D. Hill EVP,CFO
Richard J. Pershing EVP
Vance N. Booker SVP
Andy J. Dearman, III SVP
Frederick D. Kuester SVP
Douglas L. Miller SVP,L
Barney S. Rush SVP
James A. Ward SVP,C
Elizabeth B. Chandler VP,S
J. Michael Childers VP
Anne M. Cleary VP
Henry T. E. Coolidge, Jr. VP
C. Alan Martin VP
David T. Gallaspy VP
Jason C. Harlan VP
Carson B. Harreld VP
Alan W. Harrelson VP
J. R. Harris VP
Randall E. Harrison VP
J. William Holden, III VP,T
Ronald E. Leggett VP
Craig S. Lesser VP
William A. Maner, III VP
Sean P. Murphy VP
Richard T. O'Brien VP
Richard F. Owen VP
David R. Rozier, Jr. VP
Asociados de Electricidad, S.A.
Name and Principal Address (h) Position
Ricardo Falabella D,VP
Mariano F. Grondona D
J. William Holden, III (e) D,P
SEI y Asociados de Argentina, S.A.
Name and Principal Address (i) Position
Juan Carlos Apostolo D
Peter J. Davenport D
Ricardo Falabella D,VP
Mariano F. Grondona D
J. William Holden, III (e) D,P
Walter J. Koll D
W. L. Westbrook (a) D
15
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Hidroelectrica Alicura, S.A.
Name and Principal Address (i) Position
Jose Ricardo Brillo D
Peter J. Davenport D
Ricardo Falabella D,P
Mariano F. Grondona D,S
Walter J. Koll D
Mark S. Lynch D,VP
Gonzalo Nunez D
Juan C. Santos D
Southern Electric, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,P
Tommy Chisholm (a) S
James J. Coppola, Jr. T
Southern Energy International, Inc.
Name and Principal Address (e) Position
S. Marce Fuller D,P,CEO
Elmer B. Harris D
Richard J. Pershing D,VP
James A. Ward D
Raymond D. Hill D,VP,T
Barney S. Rush D,VP
Carson B. Harreld VP
Richard F. Owen VP
James J. Coppola, Jr. C
Tommy Chisholm (a) S
Southern Energy - Newco 2, Inc.
Name and Principal Address (e) Position
Richard F. Owen D
Richard J. Pershing D,P,CEO
Carson B. Harreld VP,T
James J. Coppola, Jr. C
Tommy Chisholm (a) S
SEI Chile, S.A.
Name and Principal Address (j) Position
Christopher Darnell D
J. William Holden III (e) D
Jorge Granic Latorre D
Pastor Sanjurjo CEO
Empresa Electrica del Norte Grande, S.A.
Name and Principal Address (k) Position
Edgardo Boeninger Kausel D
William J. Dickerson D
Ricardo Falabella D
Ronald E. Leggett D
J. William Holden, III (e) CH
Mark S. Lynch D,CEO
Marcelo Trivelli Oyarzun D
Richard J. Pershing D
Jeffrey A. Spencer CFO
Sitranor S. A.
Name and Principal Address (k) Position
Mario Espinoza Duran D
Oscar Moscoso Fabres D
Ricardo Campano Gandara D,VCH
Jerry Honeycutt D
Mark S. Lynch D,CH
Carlos Larrain Pena D
Luis Hormazibal Villagran D
Pedro Artiagoitia Artave CEO
Energia del Pacifico Limitada
Name and Principal Address (k) Position
Jorge Granic Latorre D
Carlos Larrain Pena D
Pastor Sanjurjo D
Mark S. Lynch CEO
Jeffrey A. Spencer CFO
SEBH
Name and Principal Address (e) Position
R. Larry Brantley D
Richard F. Owen D,P
Carson B. Harreld VP,T
James J. Coppola C
Tommy Chisholm (a) S
Southern Electric Bahamas Ltd.
Name and Principal Address (e) Position
Richard F. Owen D,P
R. Larry Brantley D
Carson B. Harreld VP,T
Tommy Chisholm (a) S
James J. Coppola, Jr. C
16
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Freeport Power Company Limited
Name and Principal Address Position
R. Larry Brantley D,P,CEO
P. O. Box F-40888
Freeport, Grand Bahama Island,
Bahamas
Jack A. Hayward D
P. O. Box F-40888
Freeport, Grand Bahama Island,
Bahamas
J. William Holden, III (e) D
Albert J. Miller D
P. O. Box F-40888
Freeport, Grand Bahama Island,
Bahamas
Richard J. Pershing (e) D
Edward P. St. George D
P. O. Box F-40888
Freeport, Grand Bahama Island,
Bahamas
Raymond D. Hill VP,CFO
Ian O. Barry VP,T
P. O. Box F-40888
Freeport, Grand Bahama Island,
Bahamas
Willie A. M. Moss VP,S
P. O. Box F-40888
Freeport, Grand Bahama Island,
Bahamas
SEI Beteiligungs GmbH
Name and Principal Address (e) Position
Barney S. Rush D
James A. Ward D
P. T. Tarahan Power Company
Name and Principal Address (e) Position
Tanri Abeng M
Ir. Aburizal Bakrie P,M
David T. Gallaspy M
Mintarto Halim M
Ronald E. Leggett M
Mark S. Lynch M
Soy M. Pardede M
Richard J. Pershing M
George S. Tahija M
James A. Ward M
Raymond V. Haley P,D
Thomas K. Amster D
Lekir A. Daud D
Arjono D. Kamarga D
Amin M. Lakhani D
Southern Electric Brasil Participacoes Ltda.
Name and Principal Address Position
Pedro Paulo Cristofaro D
Av Almirante Barroso,
No. 52, 5 Andar
Rio de Janeiro, Brasil CEP 20031
Julian Fonseca Pena Chediak D
Av Almirante Barroso,
No. 52, 5 Andar
Rio de Janeiro, Brasil CEP 20031
Southern Electric International - Europe, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,T
Barney S. Rush P,CEO
James J. Coppola, Jr. C
Tommy Chisholm (a) S
Gasoducto Nor Andino Argentina S.A.
Name and Principal Address (e) Position
Conrado Bianchi D
Walter Cole D
Richardo Falabella D
Jan Flachet D,VP
Willy Heyselberghs D,P
Mark S. Lynch D
Andre van der Bogaert D
Gasoducto Nor Andino S.A.
Name and Principal Address (e) Position
Chrisitan Biebuyck D
Willy Heyselberghs D,P
Jerry Honeycutt D
Mark S. Lynch D
Philip Olivier D
Jeffery A. Spencer D
Andre van der Bogaert D
Southern Electric International Finance, Inc.
Name and Principal Address (e) Position
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP
L. Terry Turner D
William R. Bechstein D,VP
James A. Ward P
Tommy Chisholm (a) S
17
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Southern Energy Development - Europe Limited
Name and Principal Address (e) Position
Carson B. Harreld D
Raymond D. Hill D
C. Philip Saunders D
Richard J. Pershing D
Barney S. Rush D
James A. Ward D
Miles W. McHugh S
Southern Energy Netherlands, Ltd.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP
L. Terry Turner D
Barney S. Rush P,CEO
Tommy Chisholm (a) S
The Southern Company - Europe plc
Name and Principal Address (e) Position
Raymond D. Hill D
Richard J. Pershing D
Barney S. Rush D
James A. Ward D
Miles W. McHugh S
Southern Energy UK Generation Limited
Name and Principal Address (e) Position
Raymond D. Hill D
Sam H. Dabbs, Jr. (a) D
Richard J. Pershing D
Robert H.W. Powell D
Patricia L. Roberts (a) D
James A. Ward D
Tommy Chisholm (a) S
Southern Investments UK plc
Name and Principal Address (e) Position
Accentacross Limited D
Daniel Charl S. Oosthuizen D,CFO,CAO
William P. Bowers D
Mighteager Limited D
Richard J. Pershing D,CEO
C. Philip Saunders D
Robert A. Symons D
Miles W. McHugh S
South Western Electricity plc
Name and Principal Address (l) Position
William P. Bowers D
Daniel Charl S. Oosthuizen D
Roger L. Petersen D
C. Philip Saunders D
Robert A. Symons D
Robin D. Edmunds S
Southern Electric International Trinidad, Inc.
Name and Principal Address (e) Position
Richard Owen D,P
Larry M. Porter D,VP
Carson B. Harreld VP,C
James J. Coppola, Jr. T
Tommy Chisholm (a) S
Southern Electric International, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,P
James J. Coppola, Jr. T
Tommy Chisholm S
The Power Generation Company of
Trinidad and Tobago Limited
Name and Principal Address Position
Ronald Chan D,CH
Scotia Centre
Cr. Park and Richmond Streets
Port of Spain, Trinidad, W.I.
Barbara Fagan D
200 Westlake Park Blvd.
Houston, TX 77253
J. William Holden, III (e) D
Ronald E. Leggett (e) D
John MacKay D
6 St. Kitts Avenue
Federation Park, Trinidad, W. I.
Judith Morris D
63 Frederick Street
Port of Spain, Trinidad, W.I.
Jacqueline Quamina D
Eric Williams Plaza
Independence Square
Port of Spain, Trinidad, W.I.
Chandrabhan Sharma D
University of the West Indies
St. Augustine, Trinidad, W.I.
W. L. Westbrook (a) D
Henry T. E. Coolidge, Jr. CEO
Charmaine
Pemberton-Carrington S 63 Frederick Street Port of Spain, Trinidad, W.I.
18
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART I. (Continued)
Southern Energy - Asia, Inc.
Name and Principal Address (e) Position
Edwin H. Adams D,VP
18/F Hong Kong Telecom Tower
979 King's Road
Quarry Bay, Hong Kong
Raymond D. Hill D
Dean Koch VP
Frederick D. Kuester D,EVP
18/F Hong Kong Telecom Tower
979 King's Road
Quarry Bay, Hong Kong
Carson B. Harreld VP,T
J. William Holden, III VP
Tommy Chisholm (a) S
SCS
Name and Principal Address (c) Position
A. W. Dahlberg (a) D
H. Allen Franklin (a) D,P,CEO
S. Marce Fuller (e) D
Elmer B. Harris (b) D
David M. Ratcliffe D
Kerry E. Adams (n) EVP
Gale E. Klappa (a) EVP
C. Alan Martin (a) EVP
Charles D. McCrary (b) EVP
Stephen A. Wakefield (a) EVP
W. L. Westbrook (a) EVP
Robert S. Beason SVP
Robert H. Haubein SVP
Leonard J. Haynes SVP
W. Dean Hudson SVP,C,CFO
William K. Newman (b) SVP
Michael L. Scott SVP
Steven R. Spencer (a) SVP
Jerry L. Stewart (b) SVP
Christopher C. Womack (a) SVP
David R. Altman (a) VP
I. Otis Berkhan VP
Robert L. Boyer VP
Tommy Chisholm (a) VP,S,L
David L. Coker VP
James M. Corbitt (b) VP
Andrew J. Dearman, III (f) VP
Douglas E. Dutton (n) VP
James C. Fleming (a) VP
Dr. C. H. Goodman (b) VP
Barbara S. Hingst (a) VP
Douglas E. Jones (a) VP
Allen L. Leverett (a) VP,T
Charles D. Long, IV (b) VP
William L. Marshall, Jr. (b) VP
J. Mike McClure VP
Joseph A. Miller (p) VP
Karl R. Moor (p) VP
Robert G. Moore (d) VP
Rodney O. Mundy (b) VP
Earl B. Parsons, III (a) VP
James P. Sale (a) VP
Bertram E. Sears VP
Anthony J. Topazi (b) VP
Dr. W. Robert Woodall, Jr. (a) VP
John F. Young (a) VP
Southern LINC
Name and Principal Address (m) Position
A. W. Dahlberg (a) D
Robert G. Dawson D,P,CEO
H. Allen Franklin (a) D
Elmer B. Harris (b) D
David M. Ratcliffe (c) D
W. L. Westbrook (a) D
R. Craig Elder D,VP,T,CFO
Rodney H. Johnson VP
Julie T. Pigott VP
Tommy Chisholm (a) S
Southern Resources
Name and Principal Address (e) Position
A. W. Dahlberg (a) D
H. Allen Franklin (a) D
S. Marce Fuller D,P,CEO
Elmer B. Harris (b) D
W. L. Westbrook (a) D,VP
Raymond D. Hill EVP,CFO
Richard J. Pershing EVP
Vance N. Booker SVP
Andy J. Dearman, III SVP
Frederick D. Kuester SVP
Douglas L. Miller SVP,L
Barney S. Rush SVP
James A. Ward SVP,C
Elizabeth B. Chandler VP,S
J. Michael Childers VP
Anne M. Cleary VP
Henry T. E. Coolidge, Jr. VP
David T. Gallaspy VP
Jason C. Harlan VP
Carson B. Harreld VP
Alan W. Harrelson VP
J. R. Harris VP
Randall E. Harrison VP
J. William Holden, III VP,T
Ronald E. Leggett VP
Craig S. Lesser VP
William A. Maner, III VP
Sean P. Murphy VP
Richard T. O'Brien VP
19
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART I. (Continued)
Richard F. Owen VP
David R. Rozier, Jr. VP
SEI Operadora de Argentina, S.A.
Name and Principal Address (i) Position
Ricardo Falabella D,VP
J. William Holden, III (e) D,P
Ronald E. Leggett (e) D
Southern Electric International - Asia, Inc
Name and Principal Address (e) Position
Raymond D. Hill D,P
Carson B. Harreld VP,T
James J. Coppola, Jr. C
Tommy Chisholm (a) S
Southern Electric International GmbH
Name and Principal Address (e) Position
Tommy Chisholm (a) GM
Jason C. Harlan GM
Raymond D. Hill GM
Richard J. Pershing GM
Barney S. Rush GM
James A. Ward GM
SERC
Name and Principal Address (n) Position
Charles D. McCrary (b) D,P
T. Roy Harrell (b) VP
Larry M. Porter (e) VP
Jerry L. Stewart (b) VP
Tommy Chisholm (a) S,T
Southern Nuclear
Name and Principal Address (o) Position
A. W. Dahlberg (a) D
H. Allen Franklin (a) D
William G. Hairston, III D,P,CEO
Elmer B. Harris (b) D
David M. Ratcliffe (c) D
Jackie D. Woodard EVP
James W. Averett VP
James B. Beasley VP
Louis B. Long VP
John O. Meier VP,L
D. N. Morey, III VP
H. Lewis Sumner, Jr. VP
Christopher C. Womack (a) VP
Kathleen S. King C,T
Sherry A. Mitchell S
Energy Solutions
Name and Principal Address (c) Position
Robert S. Beason D
Gale E. Klappa D
Bertram Sears D,P,CEO
Allen L. Leverett (a) D,T
Thomas R. Thames VP,GM
Tommy Chisholm (a) S
Southern Energy Finance Company, Inc.
Name and Principal Address (e) Position
Raymond D. Hill D,VP
James A. Ward D,P
W. L. Westbrook D
William J. Holden, III VP
Christopher J. Kysar VP,CFO,T
Richard J. Pershing VP
Tommy Chisholm (a) S
EPZ Lease, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
1105 N. Market Street
Suite 1300
Wilmington, DE 19801
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
William J. Holden, III VP
James A. Ward P,CEO
Tommy Chisholm (a) S
EPZ Lease, L.L.C.
Name and Principal Address (e) Position
Christopher J. Kysar Officer
Tom Mathew Officer
John Rachford Officer
EPZ Holding A, L.L.C.
Name and Principal Address (e) Position
Christopher J. Kysar Officer
Tom Mathew Officer
John Rachford Officer
EPZ Holding B, L.L.C.
Name and Principal Address (e) Position
Christopher J. Kysar Officer
Tom Mathew Officer
John Rachford Officer
20
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
EPZ Holding C, L.L.C.
Name and Principal Address (e) Position
Christopher J. Kysar Officer
Tom Mathew Officer
John Rachford Officer
Southern Energy North America, Inc.
Name and Principal Address (e) Position
William R. Bechstein D
James J. Coppola, Jr. D
Carson B. Harreld D,SVP,C
L. Terry Turner D
Richard J. Pershing P,CEO
J. Michael Childers VP
Anne M. Cleary VP
Alan W. Harrelson VP
Randal E. Harrison VP
J. William Holden, III VP,T
Craig S. Lesser VP
Sean P. Murphy VP
David R. Rozier, Jr. VP
Tommy Chisholm (a) S
Southern Energy Trading and Marketing, Inc.
Name and Principal Address (e) Position
Richard J. Pershing D,P,CEO
Michael L. Smith VP,CFO,C
Andrew W. Evans VP,T
Gary T. Morsches VP
Sonnet Edmonds S
SEI Birchwood, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
J. William Holden, III VP,T
Alan W. Harrelson VP
David R. Rozier, Jr. D,P,CEO
Peter R. Leighton D,VP
Tommy Chisholm (a) S
Dutch Gas Lease, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,T
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
L. Terry Turner D
James A. Ward P,CEO
J. William Holden, III VP
Tommy Chisholm (a) S
SEI Hawaiian Cogenerators, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
Richard J. Pershing P,CEO
Stephen G. Gillis VP,T
Tommy Chisholm (a) S
Southern Energy - Cajun, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
David R. Rozier, Jr. D,P
Anne M. Cleary VP
J. William Holden, III VP,T
Gary J. Kubik VP
Donald R. Wash VP
Tommy Chisholm (a) S
SEI State Line, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
Steve Owen D,VP
David R. Rozier, Jr. D,P,CEO
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
PowerCall, Inc.
Name and Principal Address (c) Position
Robert S. Beason D
Gale E. Klappa D
Bertram E. Sears D,P,CEO
Allen L. Leverett (a) D,T
Michael E. Britt VP
Tommy Chisholm (a) S
Southern Telecom, Inc.
Name and Principal Address (c) Position
Robert S. Beason D
Robert G. Dawson D
Gale E. Klappa D
Allen L. Leverett (a) D,T
Bertram E. Sears D,P,CEO
Michael E. Britt VP
Tommy Chisholm (a) S
Cayman Energy Traders
Name and Principal Address Position
Dennis W. Bakke D
J. William Holden, III D
Barry J. Sharp D
William R. Lurasch S
21
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Consolidated Electric Power Asia Limited
Name and Principal Address Position
Edwin H. Adams D
18/F Hong Kong Telecom Tower
979 King's Road
Quarry Bay, Hong Kong
Edgardo Bautista D
S. Marce Fuller (e) D
A. W. Dahlberg (a) D
Raymond D. Hill (e) D,CH
Dean G. Koch D
Frederick D. Kuester D
18/F Hong Kong Telecom Tower
979 King's Road
Quarry Bay, Hong Kong
Richard J. Pershing D
Henry T.E. Coolidge, Jr. D
Thomas Cain Scott-Morey D
Theresa Siu Chan, Wan S
SC Ashwood Holdings, Inc.
Name and Principal Address (e) Position
Richard J. Pershing D,P,CEO
Andrew W. Evans VP,T
Gary J. Morsches VP
Michael L. Smith VP,CFO,C
David Stewart VP
Sonnet Edmonds S
SC Energy Ventures, Inc.
Name and Principal Address (e) Position
Richard J. Pershing D,P,CEO
Andrew W. Evans VP,T
Michael L. Smith VP,CFO,C
Gary J. Morsches VP
Sonnet Edmonds S
SEI Worldwide Holdings, Inc.
Name and Principal Address (e) Position
Richard J. Pershing D
James A. Ward D
Barney S. Rush P,CEO
Carson B. Harreld VP,T
James J. Coppola, Jr. C
Tommy Chisholm (a) S
Southern Energy Development - Europa GmbH
Name and Principal Address (e) Position
Jason C. Harlan MD
Miles W. McHugh MD
Richard J. Pershing MD
Barney S. Rush MD
James A. Ward MD
Southern Energy Asia Ventures, Inc.
Name and Principal Address (e) Position
Raymond D. Hill D,P
Edwin H. Adams D,VP
18/F Hong Kong Telecom Tower
979 King's Road
Quarry Bay, Hong Kong
Frederick D. Kuester D,EVP
Carson B. Harreld VP,T
Dean G. Koch VP
Tommy Chisholm (a) S
SEI Germany - BEWAG, Inc.
Name and Principal Address (e) Position
Barney S. Rush D,P,CEO
Carson B. Harreld VP,T
James J. Coppola, Jr. C
Tommy Chisholm (a) S
SEI Worldwide Holdings (Germany) GmbH
Name and Principal Address (e) Position
Richard J. Pershing MD
James A. Ward MD
Barney S. Rush MD
Jason C. Harlan MD
Elmer B. Harris MD
Miles W. McHugh MD
Southern Company Capital Funding, Inc.
Name and Principal Address (a) Position
Carson B. Harreld D
William R. Bechstein (e) D,VP
James J. Coppola, Jr. D,C
L. Terry Turner (e) D
William L. Westbrook D, P
Charles O. Rawlins VP, CFO
22
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Southern Energy Clairton, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
James A. Ward P,CEO
J. William Holden, III VP
Tommy Chisholm (a) S
Southern Energy Clairton 2, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
James A. Ward P,CEO
J. William Holden, III VP
Tommy Chisholm (a) S
Southern Energy Clairton, L.L.C.
Name and Principal Address (e) Position
Southern Energy Clairton, Inc. M
Southern Energy Clairton 2, Inc. M
Southern Energy do Brasil Ltda.
Name and Principal Address (e) Position
Rodolpho de Oliveira Franco M
Protasio
Southern Energy E Associados Participacoes,S.A.
Name and Principal Address (e ) Position
Monica Maria Correa Moreira D,VP
Carneiro
Kevin L. Mundie D,P
Southern Energy Retail Trading and
Marketing, Inc.
Name and Principal Address (e) Position
Richard J. Pershing D,P,CEO
Andrew W. Evans VP,T
Michael L. Smith VP,CFO,C
Gary J. Morsches VP
Sonnet Edmonds S
Southern Energy Worldwide Holdings
Beteiligungsgesellschaft mbH
Name and Principal Address (e) Position
Miles W. McHugh MD
Richard J. Pershing MD
Barney S. Rush MD
James A. Ward MD
SE China Investments, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
Raymond D. Hill P
Edwin H. Adams VP
18/F Hong Kong Telecom Tower
979 King's Road
Quarry Bay, Hong Kong
Tommy Chisholm (a) S
Southern Energy Mauritius Limited
Name and Principal Address (e) Position
James J. Coppola, Jr. D
David R. Rozier, Jr. D
SEMAR Limited
Name and Principal Address (e) Position
James J. Coppola, Jr. D
David R. Rozier, Jr. D
SEI Brazil Holdings, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,P
James J. Coppola, Jr. T
Tommy Chisholm (a) S
SEI South America, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,P
James J. Coppola, Jr. T
Tommy Chisholm (a) S
Southern Energy Caribe, Ltd.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,P
L. Terry Turner D
Tommy Chisholm (a) S
23
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Southern Energy - Europe, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
Barney S. Rush P,CEO
Tommy Chisholm (a) S
Southern Energy Europe Investments, Ltd.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
Barney S. Rush P,CEO
Tommy Chisholm (a) S
SWEB Holdings UK
Name and Principal Address (e) Position
William Paul Bowers D
Stephen J. Feerrar D
Daniel Charl S. Oosthuizen D
Richard J. Pershing D
Roger L. Petersen D
C. Philip Saunders D
Robert A. Symons D
Miles W. McHugh S
SWEB Holdings Limited
Name and Principal Address (e) Position
William Paul Bowers D
Stephen J. Feerrar D
Daniel Charl S. Oosthuizen D
Richard J. Pershing D
C. Philip Saunders D
Robert A. Symons D
Miles W. McHugh S
Southern Energy Development Hungaria LLC
Name and Principal Address (e) Position
Jason C. Harlan D
Southern Energy Carbontronics, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola, Jr. D,C
Carson B. Harreld D,VP,T
L. Terry Turner D
James A. Ward P,CEO
J. William Holden, III VP
Tommy Chisholm (a) S
State Line Holding Corporation
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
Steve Owen D,VP
David R. Rozier, Jr. D,P
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
Southern Energy Southwest Investments, Inc.
Name and Principal Address (e) Position
William R. Bechstein D,VP
James J. Coppola D,C
L. Terry Turner D
James A. Ward P,CEO
Gary J. Kubik VP
Patricia L. Roberts (a) S
Southern Energy Texas (G.P.), Inc.
Name and Principal Address (e) Position
David T. Gallaspy D,P,CEO
Carson B. Harreld D,VP,C
Richard J. Pershing D
David R. Rozier, Jr. D
Timothy P. Berringan VP
Anne M. Cleary VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
Greenhost, Inc.
Name and Principal Address (e) Position
Thomas J. Bonner D
Julie A. Caiafa D,CFO,S
Peter R. Leighton D,P
James R. Pagano D
David R. Rozier, Jr. D
Thomas F. Schwartz D
Mobile Development Company
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
J. William Holden, III VP,T
Tommy Chisholm (a) S
SEI New England Holding Corp.
Name and Principal Address (e) Position
Carson B. Harreld D,VP
Sean P. Murphy D,P,CEO
Richard J. Pershing D
24
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
Vance N. Booker VP
Anne M. Cleary VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
SEI New England Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP
Sean P. Murphy D,P
Richard J. Pershing D
Vance N. Booker VP
Anne M. Cleary VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
Southern Energy Canal III, Inc.
Name and Principal Address (e) Position
Sean P. Murphy P
Vance N. Booker VP
Anne M. Cleary VP
Norman E. Cowden VP
Carson B. Harreld VP
Alan W. Harrelson VP
Robert A. Hayes VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
Southern Energy Canal LLC
Name and Principal Address (e) Position
Sean P. Murphy P
Vance N. Booker VP
Anne M. Cleary VP
Carson B. Harreld VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
Southern Energy Kendall LLC
Name and Principal Address (e) Position
Sean P. Murphy P
Vance N. Booker VP
Anne M. Cleary VP
Carson B. Harreld VP
J. William Holden, III VP,T
Tommy Chisholm (a) S
SEI Wisconsin Holdings, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP,C
Richard J. Pershing D
David R. Rozier, Jr. D,P,CEO
Anne M. Cleary VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Rodney E. Sears VP
Tommy Chisholm (a) S
SEI Wisconsin LLC
Name and Principal Address (e) Position
David R. Rozier P,CEO
Anne M. Cleary VP
Carson B. Harreld VP,C
Alan W. Harrelson VP
J. William Holden, III VP,T
Rodney E. Sears VP
Tommy Chisholm S
Southern Energy California LLC
Name and Principal Address (e) Position
Randall E. Harrison P,CEO
Vance N. Booker VP
J. Michael Childers VP
Anne M. Cleary VP
Stephen G. Gillis VP,CFO,T
Carson B. Harreld VP
Alan W. Harrelson VP
Robert A. Hayes VP
Kim Heinz VP
J. William Holden, III VP
Gary J. Kubik VP
Robert L. Lamkin VP
Tommy Chisholm (a) S
Southern Energy Bay Area Investments, Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP
Richard J. Pershing D
Randall E. Harrison D,P,CEO
Vance N. Booker VP
Anne M. Cleary VP
Stephen G. Gillis VP,CFO,T
Alan W. Harrelson VP
J. William Holden, III VP
Tommy Chisholm (a) S
Southern Energy Potrero, LLC
Name and Principal Address (e) Position
Randall E. Harrison P,CEO
Vance N. Booker VP
25
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
PART I. (Continued)
J. Michael Childers VP
Anne M. Cleary VP
Stephen G. Gillis VP,CFO,T
Carson B. Harreld VP
Alan W. Harrelson VP
Robert A. Hayes VP
Kim Heinz VP
J. William Holden, III VP
Gary J. Kubik VP
Robert L. Lamkin VP
Tommy Chisholm (a) S
Southern Energy Delta, LLC
Name and Principal Address (e) Position
Randall E. Harrison P,CEO
Vance N. Booker VP
J. Michael Childers VP
Anne M. Cleary VP
Stephen G. Gillis VP,CFO,T
Carson B. Harreld VP
Alan W. Harrelson VP
Robert A. Hayes VP
Kim Heinz VP
William J. Holden, III VP
Gary J. Kubik VP
Robert L. Lamkin VP
Tommy Chisholm (a) S
Southern Energy Ventures, Inc.
Name and Principal Address (e) Position
Richard J. Pershing D,P,CEO
Andrew W. Evans VP,T
Gary J. Morsches VP
Michael L. Smith VP,CFO,C
Sonnet Edmonds S
Southern Company Energy Marketing G.P., LLC
Name and Principal Address (e) Position
Raymond D. Hill Class A Rep
Charles D. Davidson Class B Rep
S. Marce Fuller Class A Rep
Phillip A. Gobe Class B Rep
Richard J. Pershing Class A Rep
Steven J. Shapiro Class B Rep
William L. Westbrook (a) Class A Rep
Joseph P. Catasein VP
Alexander Eydeland VP
Vincent Duane VP,L
Gerald Fleming VP
Billy E. Johnson VP
Gary J. Morsches P
William T. Orr VP
John W. Ragan VP
Ronald A. Erd VP
Michael L. Smith VP,CFO
David Stewart VP
Mark J.D. Streater VP
Christopher W. Turner VP
Sailesh Ramamurrie VP
Sonnet Edmonds S
Southern Company Energy Marketing LP
Name and Principal Address (e) Position
Raymond D. Hill Class A Rep
Charles D. Davidson Class B Rep
S. Marce Fuller Class A Rep
Phillip A. Gobe Class B Rep
Richard J. Pershing Class A Rep
Steven J. Shapiro Class B Rep
William L. Westbrook (a) Class A Rep
Joseph P. Catasein VP
Alexander Eydeland VP
Vincent Duane VP,L
Gerald Fleming VP
Billy E. Johnson VP
Gary J. Morsches P
William T. Orr VP
John W. Ragan VP
Ronald A. Erd VP
Michael L. Smith VP,CFO
David Stewart VP
Mark J.D. Streater VP
Christopher W. Turner VP
Sailesh Ramamurrie VP
Sonnet Edmonds S
Southern Energy New York G.P., Inc.
Name and Principal Address (e) Position
Carson B. Harreld D,VP
Craig S. Lesser D,P,CEO
Richard J. Pershing D
Vance N. Booker VP
Anne M. Cleary VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Chris Johnson C
Tommy Chisholm (a) S
Southern Energy Lovett, LLC
Name and Principal Address (e) Position
Craig S. Lesser P,CEO
Vance N. Booker VP
J. Michael Childers VP
Anne M. Cleary VP
John Edward Dorsett, Jr. VP
Carson B. Harreld VP
Alan W. Harrelson VP
26
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS
- ---------------------------------
PART I. (Continued)
J. William Holden, III VP,T
Gary J. Kubik VP
Chris Johnson C
Tommy Chisholm (a) S
Southern Energy Bowline, LLC
Name and Principal Address (e) Position
Craig S. Lesser P,CEO
Vance N. Booker VP
J. Michael Childers VP
Anne M. Cleary VP
John Edward Dorsett, Jr. VP
Carson B. Harreld VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Gary J. Kubik VP
Chris Johnson C
Tommy Chisholm (a) S
Southern Energy NY-Gen, LLC
Name and Principal Address (e) Position
Craig S. Lesser P,CEO
Vance N. Booker VP
J. Michael Childers VP
Anne M. Cleary VP
John Edward Dorsett, Jr. VP
Carson B. Harreld VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Gary J. Kubik VP
Chris Johnson C
Tommy Chisholm (a) S
Southern Energy Hudson Valley Investments, Ltd.
Name and Principal Address (e) Position
James J. Coppola, Jr. D,VP
L. Terry Turner D,VP,T
James A. Ward P
Gary J. Kubik VP
Patricia L. Roberts (a) S
Southern Energy Wichita Falls, L.P.
Name and Principal Address (e) Position
Southern Energy Texas
(G.P),Inc. GP
Southern Energy New England, L.L.C.
Name and Principal Address (e) Position
Sean P. Murphy P
Vance N. Booker VP
Anne M. Cleary VP
Carson B. Harreld VP
Alan W. Harrelson VP
J. William Holden, III VP,T
Tommy Chisholm S
Southern Energy Central Texas, L.P.
Name and Principal Address (e) Position
Southern Energy Southwest
Investments, Inc. GP
Southern Energy Texas
(G.P.), Inc. GP
State Line Energy, L.L.C.
Name and Principal Address (e) Position
SEI State Line, Inc. M,MA
Southern Energy Carbontronics, LLC
Name and Principal Address (e) Position
Southern Energy
Carbontronics, Inc. Member
Southern Energy Finance
Company, Inc. Member
27
<PAGE>
<TABLE>
<CAPTION>
ITEM 6. OFFICERS AND DIRECTORS. Part II. Financial Connections.
- ------------------------------------------------------------------------
Name of Officer Name and Location Position Held in Applicable
or Director of Financial Institution Financial Institution Exemption Rule
Rule No. 70
Subdivision
<S> <C> <C> <C>
Whit Armstrong The Citizens Bank Chief Executive (c)
Enterprise, AL Officer,
Chairman of the Board
of Directors and President
Enterprise Capital Corporation Chairman of the Board of
Enterprise, AL Directors, President (c)
Gus H. Bell SunTrust Bank, Savannah, GA Director (c)
David J. Cooper SouthTrust Bank, N.A., Birmingham, AL Director (a);(c)
A. D. Correll SunTrust Bank of Georgia, Atlanta, GA Director (a)
SunTrust Banks Inc., Atlanta, GA Director (a)
W. Roy Crow Barbour County Bank, Eufaula, AL Director (f)
A. W. Dahlberg SunTrust Bank of Georgia Director (a);(c)
Atlanta, GA
SunTrust Banks, Inc., Atlanta, GA Director (a);(c)
Archie H. Davis The Savannah Bancorp, Savannah, GA President, Chief Executive
Officer (c)
The Savannah Bank N.A., Savannah, GA President, Chief Executive
Officer (c)
Bryan Bank & Trust, Richmond Hill, GA Director (c)
H. Allen Franklin SouthTrust Corporation, Birmingham, AL Director (a);(c)
L. G. Hardman III First Commerce Bancorp, Inc. Chairman of the Board
Commerce, GA of Directors and Chief
Executive Officer (a);(c);(g)
First National Bank of Commerce, Chairman of the
Commerce, GA Board of Directors (c);(g)
Elmer B. Harris AmSouth Bancorporation, Director (a);(c);(e);(f)
Birmingham, AL
AmSouth Bank of Alabama,
Birmingham, AL Director (a);(c);(e);(f)
G. Edison Holland, Jr. SunTrust Bank, Savannah, GA Director (c)
Carl E. Jones Regions Financial Corporation, President , Chief
Birmingham, AL Executive Officer
and Director (c)
James R. Lientz, Jr. Bank of America, Atlanta, GA President (c)
Wallace D. Malone SouthTrust Corporation, Birmingham, AL Chairman of the Board
of Directors and Chief
Executive Officer (c)
Mayer Mitchell The Banc Corporation, Birmingham, AL Director (c)
William V. Muse SouthTrust Bank, N.A., Birmingham, AL Director (c)
John T. Porter Citizens Federal Bank, Birmingham, AL Director (c)
28
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
ITEM 6. OFFICERS AND DIRECTORS. Part II. Financial Connections. (Continued)
- -------------------------------------------------------------------------------------
Name of Officer Name and Location Position Held in Applicable
or Director of Financial Institution Financial Institution Exemption Rule
Rule No. 70
Subdivision
<S> <C> <C> <C>
G. Joseph
Prendergast Wachovia Bank, N.A., Winston-Salem, NC Director, President
and Chief Operating
Officer (c)
Wachovia Corporation, Winston-Salem, NC Director, President
and Chief Operating
Officer (c)
C)
C. Dowd Ritter, III AmSouth Bancorporation, Birmingham, AL Chairman, Chief
Executive Officer (c)
AmSouth Bank, Birmingham, AL Chairman, Chief
Executive Officer (c)
Herman J. Russell Citizens Trust Bank, Atlanta, GA Chairman of the
Board of Directors (c)
Citizens Bancshares Corp. Atlanta, GA Chairman of the
Board of Directors (c)
George A. Schloegel Hancock Bank - Mississippi, Gulfport, MS Director and
President (c)
Hancock Holding Company, Gulfport, MS Vice Chairman of
the Board
of Directors (c)
Hancock Bank - Louisiana, Baton Rouge
Louisiana Director (d)
William R. Smith SouthTrust Bank of Calhoun County, N.A.
Anniston, AL Director (f)
Gerald St. Pe' Merchants & Marine Bank, Pascagoula, MS Director (a)
Arnold M.
Tenenbaum First Union National Bank of Georgia, Director (c)
Atlanta, GA
First Union National Bank of Savannah, Director (c)
Savannah, GA
Gene Warr Coast Community Bank, Biloxi, MS Director (c)
29
</TABLE>
<PAGE>
ITEM 6. EXECUTIVE COMPENSATION. PART III.
(a) Summary Compensation Tables. The following tables set forth
information concerning any Chief Executive Officer and the four
most highly compensated executive officers for SCS, Southern
Resources, Southern LINC, Energy Solutions and Southern Nuclear
serving as of December 31, 1999, as defined by the Securities and
Exchange Commission. ALABAMA, GEORGIA, GULF, MISSISSIPPI and
SAVANNAH are incorporated by reference to page numbers III-13
through III-18 in the SOUTHERN system's combined Form 10-K for
the year ended December 31, 1999. Incorporated by reference to
"Summary Compensation Table" under ELECTION OF DIRECTORS in
SOUTHERN's definitive Proxy Statement relating to the 2000 annual
meeting of stockholders.
Key terms used in this Item will have the following meanings:-
ESP........................ Employee Savings Plan
ESOP....................... Employee Stock Ownership Plan
SBP........................ Supplemental Benefit Plan
ERISA...................... Employee Retirement Income Security Act
30
<PAGE>
<TABLE>
<CAPTION>
SCS
SUMMARY COMPENSATION TABLE
ANNUAL COMPENSATION LONG-TERM COMPENSATION
Number of
Securities Long-
Name UnderlyingTerm
and Other Annual Stock Incentive All Other
Principal Compensation Options Payouts Compensation
Position Year Salary($) Bonus($) ($)1 (Shares) ($)2 ($)3
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A. W. Dahlberg 1999 903,426 181,896 23,755 201,196 579,392 49,283
Director, Executive 1998 897,820 218,625 11,067 161,757 438,061 50,135
Committee Chairman 1997 817,644 206,250 27,485 135,882 433,247 49,766
Paul J. DeNicola4 1999 247,365 31,894 14,483 - 320,787 1,790,319
President, Chief 1998 448,531 144,600 14,709 24,139 242,539 25,342
Executive Officer, 1997 416,452 62,980 8,731 29,638 239,874 25,493
Director
H. Allen Franklin5 1999 603,658 126,000 31,023 71,153 375,137 32,654
President, Chief 1998 564,329 237,502 7,078 30,521 283,629 31,590
Executive Officer, 1997 511,505 129,426 14,219 36,544 280,513 31,350
Director
Gale Klappa 1999 261,538 196,938 6,505 11,256 179,943 15,274
Executive 1998 - - - - - -
Vice President 1997 - - - - - -
Stephen Wakefield 1999 332,654 53,601 15,294 14,504 170,451 24,675
Executive Vice 1998 328,080 104,401 3,279 13,614 - 6,446
President 1997 103,846 51,000 9,171 16,070 - -
William L.
Westbrook 1999 316,975 51,156 2,272 13,842 127,836 16,718
Executive Vice 1998 290,464 103,288 16,479 11,700 96,743 15,518
President 1997 261,020 50,000 9,763 14,242 95,679 15,216
1 Tax reimbursements by SCS on certain personal benefits.
2 Payouts made in 1998, 1999 and 2000 for the four-year performance periods
ending December 31, 1997, 1998 and 1999. 3 SCS contributions to the ESP, ESOP,
non-pension related accruals under the SBP (ERISA excess plan under which
accruals are made to offset Internal Revenue Code imposed limitations under the
ESP and ESOP), for the following:
ESP ESOP SBP
--- ---- ---
A. W. Dahlberg $7,401 $897 $40,985
Paul J. DeNicola 4,200 897 10,862
H. Allen Franklin 6,242 897 25,515
Gale Klappa 7,200 897 7,177
Stephen Wakefield 5,691 897 18,087
William L. Westbrook 6,750 897 9,071
Mr. DeNicola's amount also includes, pursuant to the Deferred Compensation Agreement described on page 45, a severance payment of
$1,765,000 and replacement benefit payments of $9,360.
4 Mr. DeNicola retired effective July 1, 1999.
5 Mr. Franklin became President and Chief Executive Officer of SCS effective July 7, 1999.
</TABLE>
31
<PAGE>
<TABLE>
<CAPTION>
Southern LINC
and
Energy Solutions
SUMMARY COMPENSATION TABLE
ANNUAL COMPENSATION LONG-TERM COMPENSATION
Number of
Securities Long-
Name UnderlyingTerm
and Other Annual Stock Incentive All Other
Principal Compensation Options Payouts Compensation
Position Year Salary($) Bonus($) ($)1 (Shares) ($)2 ($)3
- ------------------------------------------------------------------------------------------------------------------------
SOUTHERN LINC
<S> <C> <C> <C> <C> <C> <C> <C>
Robert G. Dawson 1999 222,232 204,473 5,840 8,014 94,837 11,931
President, Chief 1998 203,882 186,384 5,710 6,816 94,190 10,721
Executive Officer, 1997 185,103 138,801 1,199 7,865 - 10,305
Director
R. Craig Elder 1999 126,247 93,996 - 3,596 20,169 6,931
Vice President, 1998 123,933 94,933 - 3,354 20,009 6,586
Treasurer 1997 112,606 78,965 304 3,999 - 6,088
Rodney H. Johnson 4 1999 100,894 75,115 1,934 - 10,748 1,636
Vice President 1998 - - - - - -
1997 - - - - - -
Julie T. Pigott 4 1999 100,796 74,831 - - 10,827 5,406
Vice President 1998 - - - - - -
1997 - - - - - -
ENERGY SOLUTIONS
Bertram E. Sears 1999 132,648 22,791 2,638 3,785 67,634 6,940
President, 1998 - - - - - -
Director 1997 - - - - - -
Thomas R. Thames 1999 113,417 71,093 1,270 3,227 - 5,969
Vice President, 1998 112,018 15,834 - 2,424 38,767 5,711
General Manager 1997 - - - - - -
1 Tax reimbursement by Energy Solutions and Southern LINC on certain personal
benefits.
2 Payouts made in 1998, 1999 and 2000 for the four-year performance periods
ending December 31, 1997, 1998 and 1999.
3 Southern LINC's and Energy Solutions'
contributions to the ESP, ESOP, non-pension related accruals under the SBP
(ERISA excess plan under which accruals are made to offset Internal Revenue Code
imposed limitations under the ESP and ESOP), for the following:
ESP ESOP SBP
--- ---- ---
Robert G. Dawson $7,200 $897 $3,834
R. Craig Elder 5,685 897 349
Rodney H. Johnson 759 877 -
Julie T. Pigott 4,538 868 -
Bertram E. Sears 5,852 897 818
Thomas R. Thames 5,109 860 -
4 Ms. Pigott and Mr. Johnson became executive officers effective December 8, 1999.
32
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Southern Resources
SUMMARY COMPENSATION TABLE
ANNUAL COMPENSATION LONG-TERM COMPENSATION
Number of
Securities Long-
Name Underlying Term
and Other Annual Stock Incentive All Other
Principal Compensation Options Payouts Compensation
Position Year Salary($) Bonus($) ($)1 (Shares) ($) ($)2
- ------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Thomas G. Boren 3 1999 235,577 256,667 6,582 - - 765,607
President, Chief 1998 370,833 425,938 15,162 20,809 - 19,943
Executive Officer 1997 345,000 387,625 14,868 18,941 - 19,415
S. Marce Fuller 4 1999 341,462 465,231 1,146 17,988 - 17,274
President, Chief 1998 275,000 259,000 50,928 11,912 - 15,372
Executive Officer 1997 244,167 228,125 1,098 13,529 - 11,080
Raymond D. Hill 1999 297,616 300,000 75 12,988 - 16,078
Executive Vice 1998 275,000 259,000 467,464 11,912 21,970 11,658
President, Chief 1997 192,083 228,125 109,479 13,529 - 13,329
Financial Officer
Richard J. Pershing 1999 297,616 300,000 18,652 12,988 - 16,462
Executive Vice 1998 275,000 259,000 16,159 11,912 - 14,687
President 1997 244,167 228,125 3,645 13,529 - 13,346
Frederick D. Kuester 1999 240,635 300,000 - 10,391 39,737 13,297
Senior Vice President 1998 - - - - - -
1997 - - - - - -
Barney S. Rush 1999 219,097 199,750 - 7,689 - 11,873
Senior Vice President 1998 - - - - - -
1997 - - - - - -
1 Personal benefits provided by Southern Energy including tax reimbursements.
In 1997, Mr. Hill's amount included overseas housing costs of $87,762. In 1998,
Ms. Fuller's amount reflects membership fees of $50,928 and Mr. Hill's amount
included overseas housing costs of $232,385, together with other compensation in
connection with his overseas assignment.
2 Southern Energy contributions to the
ESP, ESOP, non-pension related accruals under the SBP (ERISA excess plan under
which accruals are made to offset Internal Revenue Code imposes limitations
under the ESP and ESOP), for the following:
ESP ESOP SBP
--- ---- ---
Thomas G. Boren $4,500 $897 $10,210
S. Marce Fuller 5,691 897 10,686
Raymond D. Hill 7,200 897 7,981
Richard J. Pershing 7,401 897 8,164
Frederick D. Kuester 6,578 897 5,824
Barney S. Rush 6,891 897 4,086
Mr. Boren's amount includes, pursuant to the Deferred Compensation Agreement described on page 45, a severance payment of $750,000.
3 Mr. Boren retired effective July 31, 1999.
4 Ms. Fuller became President and Chief Executive Officer effective August 1999.
33
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Southern Nuclear
SUMMARY COMPENSATION TABLE
ANNUAL COMPENSATION LONG-TERM COMPENSATION
Number of
Securities Long-
Name Underlying Term
and Other Annual Stock Incentive All Other
Principal Compensation Options Payouts Compensation
Position Year Salary($) Bonus($) ($)1 (Shares) ($)2 ($)3
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
W. G. Hairston, III 1999 366,897 66,601 1,615 20,895 311,562 20,285
President and Chief 1998 358,650 70,001 13,983 14,890 270,495 19,684
Executive Officer 1997 323,942 58,903 7,593 17,709 257,040 19,287
Jack D. Woodard 1999 280,528 62,951 1,756 12,388 166,466 14,789
Executive Vice 1998 259,009 55,511 3,156 10,735 132,472 13,756
President 1997 233,467 42,848 1,457 10,642 126,075 13,526
David N. Morey 1999 193,000 32,045 1,316 6,948 111,258 10,335
Vice President 1998 185,754 28,675 356 6,202 96,594 9,821
1997 166,554 26,053 515 7,514 84,048 9,474
H. L. Sumner, Jr. 1999 182,244 29,401 90 6,572 97,722 1,337
Vice President 1998 169,794 28,876 1,386 4,897 72,767 1,387
1997 146,568 22,248 270 5,933 46,551 1,355
James B. Beasley, Jr. 1999 175,740 28,667 11,643 6,309 83,916 9,134
Vice President 1998 155,469 26,878 1,919 3,830 60,495 7,523
1997 - - - - - -
1 Tax reimbursement by Southern Nuclear on certain personal benefits.
2 Payouts made in 1998, 1999 and 2000 for the four-year performance periods
ending December 31, 1997, 1998 and 1999, respectively.
2 Southern Nuclear
contributions to the ESP, ESOP, non-pension related accruals under the SBP
(ERISA excess plan under which accruals are made to offset Internal Revenue Code
imposed limitations under the ESP and ESOP), for the following:
ESP ESOP SBP
--- ---- ---
William G. Hairston, III $7,200 $897 $12,188
Jack D. Woodard 5,691 897 8,201
David N. Morey 7,200 897 2,238
H. L. Sumner, Jr. - 897 440
James B. Beasley, Jr. 6,468 897 1,769
34
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
STOCK OPTION GRANTS IN 1999
Stock Option Grants. The following table sets forth all stock option
grants to the named executive officers of each operating subsidiary during the
year ending December 31, 1999. ALABAMA, GEORGIA, GULF, MISSISSIPPI and SAVANNAH
are incorporated by reference to page numbers III-19 and III-20 in the SOUTHERN
system's combined Form 10-K for the year ended December 31, 1999. Stock Option
Grants in 1999 for SOUTHERN is incorporated by reference to "Stock Option
Grants" under ELECTION OF DIRECTORS in SOUTHERN's definitive Proxy Statement
relating to 2000 annual meeting of stockholders.
Individual Grants Grant Date Value
Number of
Securities % of Total
Underlying Options Exercise
Share Granted to or
Options Employees in Base Price Expiration Grant Date
Name Granted1 Fiscal Year2 ($/Sh)3 Date3 Present Value($)3
-----------------------------------------------------------------------------------------------------------
SCS
<S> <C> <C> <C> <C> <C> <C>
A. W. Dahlberg 201,196 9.5 26.5625 07/19/2009 1,955,625
Paul J. DeNicola - - - - -
H. Allen Franklin 71,153 3.4 26.5625 07/19/2009 447,552
Gale Klappa 11,256 0.5 26.5625 07/19/2009 70,800
Stephen Wakefield 14,504 0.7 26.5625 07/19/2009 91,230
William L. Westbrook 13,842 0.7 26.5625 07/19/2009 87,066
Southern LINC
Robert G. Dawson 8,014 0.4 26.5625 07/19/2009 50,408
R. Craig Elder 3,596 0.2 26.5625 07/19/2009 22,619
Rodney H. Johnson - - - - -
Julie T. Pigott - - - - -
Energy Solutions
Bertram E. Sears 3,785 0.2 26.5625 07/19/2009 23,808
Thomas R. Thames 3,227 0.2 26.5625 07/19/2009 20,298
See footnotes on the next page.
35
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
STOCK OPTION GRANTS IN 1999
Individual Grants Grant Date Value
Number of
Securities % of Total
Underlying Options Exercise
Share Granted to or
Options Employees in Base Price Expiration Grant Date
Name Granted1 Fiscal Year2 ($/Sh)3 Date3 Present Value($)3
------------------------------------------------------------------------------------------------------------
Southern Resources
<S> <C> <C> <C> <C> <C> <C>
Thomas G. Boren - - - - -
S. Marce Fuller 17,988 0.9 26.5625 07/19/2009 113,145
Raymond D. Hill 12,988 0.6 26.5625 07/19/2009 81,695
Richard J. Pershing 12,988 0.6 26.5625 07/19/2009 81,695
Frederick D. Kuester 10,391 0.5 26.5625 07/19/2009 65,360
Barney S. Rush 7,689 0.4 26.5625 07/19/2009 48,364
Southern Nuclear
William G. Hairston, III 20,895 1.0 26.5625 07/19/2009 131,430
Jack D. Woodard 12,388 0.6 26.5625 07/19/2009 77,921
David N. Morey 6,948 0.3 26.5625 07/19/2009 43,703
H. L. Sumner, Jr. 6,572 0.3 26.5625 07/19/2009 41,338
James B. Beasley, Jr. 6,309 0.3 26.5625 07/19/2009 39,684
1 Performance Stock Plan grants were made on July 19, 1999, and vest annually
at a rate of one-third on the anniversary date of the grant. Grants fully vest
upon termination incident to death, total disability, or retirement and expire
the earlier of five years after such event or their normal expiration date. The
exercise price is the average of the high and low fair market value of
SOUTHERN's common stock on the date granted. Options may be transferred to
family trusts and family limited partnerships.
2 A total of 2,108,818 stock options were granted in 1999.
3 Value was calculated using the Black-Scholes option valuation model. The
actual value, if any, ultimately realized depends on the market value of
SOUTHERN's common stock at a future date. Significant assumptions used to
calculate this value: price volatility - 20.74%; risk-free rate of return -
5.79%; dividend opportunity - 50%, except for Mr. Dahlberg, whose dividend
opportunity - 100%; time to exercise - 10 years; reductions for probability of
forfeiture before vesting - 7.79%; and reductions for probability of forfeiture
before expiration - 15.51% except for Mr. Dahlberg whose reductions for
probability of forfeiture before expiration - 13.40%. These assumptions reflect
the effects of cash dividend equivalents paid to participants under the
Performance Dividend Plan assuming targets are met.
36
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AGGREGATED STOCK OPTION EXERCISES IN 1999 AND YEAR-END OPTION VALUES
Aggregated Stock Option Exercises. The following table sets forth
information concerning options exercised during the year ending December 31,
1999 by the named executive officers and value of unexercised options held by
them as of December 31, 1999. ALABAMA, GEORGIA, GULF, MISSISSIPPI and SAVANNAH
are incorporated by reference to page numbers III-21 and III-22 in the SOUTHERN
system's combined Form 10-K for the year ended December 31, 1999. Aggregated
Stock Option Exercises in 1999 and Year-End Option Values information for
SOUTHERN is incorporated by reference to "Aggregated Stock Option Exercises in
1999 and Year-End Option Values" under ELECTION OF DIRECTORS in SOUTHERN's
definitive Proxy Statement relating to 2000 annual meeting of stockholders.
Value of
Number of Unexercised
Unexercised In-the-Money
Options at Options at
Fiscal Fiscal
Year-End (#) Year-End($)1
Shares Acquired Value Exercisable/ Exercisable/
Name on Exercise (#) Realized($)2 Unexercisable Unexercisable
- ----------------------------------------------------------------------------------------------------------------
SCS
<S> <C> <C> <C> <C>
A. W. Dahlberg - - 452,027/392,981 1,313,659/121,238
Paul J. DeNicola - - 169,423/0 436,923/0
H. Allen Franklin - - 191,114/111,645 700,904/31,389
Gale Klappa - - 41,077/21,957 105,502/8,073
Stephen Wakefield - - 15,251/28,937 21,760/10,881
William L. Westbrook - - 48,959/29,553 103,442/12,263
Southern LINC
Robert G. Dawson - - 17,586/8,930 25,346/6,782
R. Craig Elder - - 3,784/3,569 5,999/2,999
Rodney H. Johnson - - - -
Julie T. Pigott - - - -
Energy Solutions
Bertram E. Sears - - 4,078/6,580 4,151/2,075
Thomas R. Thames - - 808/4,843 0/0
See footnotes on the next page.
37
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AGGREGATED STOCK OPTION EXERCISES IN 1999 AND YEAR-END OPTION VALUES
Value of
Number of Unexercised
Unexercised In-the-Money
Options at Options at
Fiscal Fiscal
Year-End (#) Year-End($)1
Shares Acquired Value Exercisable/ Exercisable/
Name on Exercise (#) Realized($)2 Unexercisable Unexercisable
- --------------------------------------------------------------------------------------------------------------
Southern Resources
<S> <C> <C> <C> <C>
Thomas G. Boren - - 89,097/0 160,360/0
S. Marce Fuller - - 19,650/32,660 23,623/11,258
Raymond D. Hill - - 19,650/27,660 23,623/11,258
Richard J. Pershing - - 19,650/27,660 23,623/11,258
Frederick D. Kuester - - 17,871/20,217 25,403/7,884
Barney S. Rush - - 6,426/14,240 9,450/4,725
Southern Nuclear
William G. Hairston, III - - 69,922/40,620 154,803/15,230
Jack D. Woodard - - 40,362/25,326 86,041/9,098
David N. Morey - - 18,111/15,248 25,107/6,467
H. L. Sumner, Jr. - - 12,902/12,840 18,382/4,964
James B. Beasley, Jr. - - 11,884/11,473 16,729/4,037
1 This represents the excess of the fair market value of SOUTHERN's common
stock of $23.50 per share, as of December 31, 1999, above the exercise price of
the options. The Exercisable column reports the "value" of options that are
vested and therefore could be exercised. The Unexercisable column reports the
"value" of options that are not vested and therefore could not be exercised as
of December 31, 1999.
2 The "Value Realized" is ordinary income, before taxes, and represents the
amount equal to the excess of the fair market value of the shares or rights at
the time of exercise over the exercise price.
38
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
LONG-TERM INCENTIVE PLANS - AWARDS IN 1999
Long-Term Incentive Awards. The following table sets forth the
long-term incentive plan awards made to the named executive officers for the
performance period January 1, 1999 through December 31, 2002. ALABAMA, GEORGIA,
GULF, MISSISSIPPI and SAVANNAH are incorporated by reference to page numbers
III-23 and III-24 in the SOUTHERN system's combined Form 10-K for the year ended
December 31, 1999. Long-Term Incentive Plans- Awards information for SOUTHERN is
incorporated by reference to "Aggregated Stock Option Exercises in 1999 and
Year-End Option Values" under ELECTION OF DIRECTORS in SOUTHERN's definitive
Proxy Statement relating to the 2000 annual meeting of stockholders.
Estimated Future Payouts under
Non-Stock Price-Based Plans
Number Performance or
of Other Period
Units Until Maturation Threshold Target Maximum
Name (#)1 or Payout ($)2 ($)2 ($)2
- ----------------------------------------------------------------------------------------------------------------------------------
PRODUCTIVITY IMPROVEMENT PLAN
SCS
<S> <C> <C> <C> <C> <C>
A. W. Dahlberg 622,871 4 years 311,436 622,871 1,245,742
Paul J. DeNicola 271,853 4 years 135,927 271,853 543,706
H. Allen Franklin 438,499 4 years 219,250 438,499 876,998
Gale Klappa 124,459 4 years 62,230 124,459 248,918
Stephen Wakefield 165,948 4 years 82,974 165,948 331,896
William L. Westbrook 165,948 4 years 82,974 165,948 331,896
Energy Solutions
Bertram E. Sears 37,574 4 years 18,787 37,574 75,148
Thomas R. Thames - - - - -
Southern Nuclear
William G. Hairston, III 188,251 4 years 94,126 188,251 376,502
Jack D. Woodard 124,459 4 years 62,230 124,459 248,918
David N. Morey 67,223 4 years 33,612 67,223 134,446
H. L. Sumner, Jr. 67,223 4 years 33,612 67,223 134,446
James B. Beasley, Jr. 67,223 4 years 33,612 67,223 134,446
See footnotes on the next page.
39
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
LONG-TERM INCENTIVE PLANS - AWARDS IN 1999
Estimated Future Payouts under
Non-Stock Price-Based Plans
Number Performance or
of Other Period
Units Until Maturation Threshold Target Maximum
Name (#)1 or Payout ($)2 ($)2 ($)2
- ----------------------------------------------------------------------------------------------------------------------------------
LONG-TERM INCENTIVE PLAN 3
Southern LINC
<S> <C> <C> <C> <C> <C>
Robert G. Dawson 89,632 3 years 44,816 89,632 268,896
R. Craig Elder 19,105 3 years 9,553 19,105 57,315
Rodney H. Johnson 10,178 3 years 5,089 10,178 30,534
Julie T. Pigott 10,140 3 years 5,070 10,140 30,420
VALUE CREATION PLAN 4
Southern Resources
Thomas G. Boren 137,173 4 - 10 years - 326,472 -
S. Marce Fuller 88,851 4 - 10 years - 211,465 -
Raymond D. Hill 88,851 4 - 10 years - 211,465 -
Richard J. Pershing 88,851 4 - 10 years - 211,465 -
Frederick D. Kuester 52,375 4 - 10 years - 124,653 -
Barney S. Rush 46,919 4 - 10 years - 111,667 -
1 A performance unit is a method
of assigning a dollar value to a performance award opportunity. Under the
Executive Productivity Improvement Plan of the Company (the "plan"), the number
of units granted to named executive officers (except Mr. Boren who does not
participate in the plan) is 50 to 65 percent of their base salary range midpoint
at the beginning of the performance period, with each unit valued at $1.00. No
awards are paid unless the participant remains employed by the Company through
the end of the performance period.
2 The threshold, target, and maximum value of a unit under the plan is $0.50,
$1.00 and $2.00, respectively, and can vary based on the Company's total
shareholder return relative to selected groups of electric utilities. If certain
minimum performance relative to the selected groups is not achieved, there will
be no payout; nor is there a payout if the current earnings of the Company are
not sufficient to fund the dividend rate paid in the last calendar year. The
plan provides that in the discretion of the Compensation & Management Succession
Committee, extraordinary income may be excluded for purposes of calculating the
amount available for the payment of awards. All awards are payable in cash at
the end of the performance period.
The threshold, target and maximum value of a unit under Southern LINC's
Long-Term Incentive Plan is 50%, 100% and 300%, respectively.
The target value of a unit under the Southern Energy, Inc. Value Creation
Plan is not determinable. The actual value, if any, a participant may realize
ultimately depends on the value of Southern Energy, Inc. at a future date. As of
December 31, 1999, each unit of phantom interest in Southern Energy, Inc. had a
value of $13.99. Based on the 1999 performance, the rights awarded to Messrs.
Boren, Hill, Pershing, Kuester, and Rush, and Ms. Fuller would have values of
$326,472, $211,465, $211,465, $124,653, $111,667 and $211,465, respectively.
3 Under Southern LINC's Long-Term Incentive Plan, annual target awards range
from 5 to 40 percent of base salary as of the end of the plan period, depending
upon the grade of the participant at the beginning of the performance period.
Performance is measured based on Southern LINC's net income. Incentives are
earned based on the achievement of the overlapping three-year net income targets.
4 The Compensation & Management Succession Committee awarded Messrs. Boren,
Hill, Pershing, Kuester and Rush and Ms. Fuller the above number of rights to
the appreciation in the value of Southern Energy, Inc. over a term of ten years
from March 15, 1999, under the Southern Energy, Inc. Value Creation Plan. Each
unit of phantom interest in Southern Energy, Inc. had an initial value and
exercise price of $11.61. Appreciation rights vest annually at a rate of 25% on
the anniversary date of the grant.
40
</TABLE>
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART III.
(b) Stock Ownership. The following tables show the number of shares of
SOUTHERN common stock and preferred stock owned by the directors, nominees and
executive officers as of December 31, 1999. It is based on information furnished
to SOUTHERN by the directors, nominees and executive officers. The shares owned
by all directors, nominees and executive officers of each company as a group
constitute less than one percent of the total number of shares of the respective
classes outstanding on December 31, 1999. SOUTHERN is incorporated by reference
to "Stock Ownership" under ELECTION OF DIRECTORS in SOUTHERN's definitive Proxy
Statement relating to the 2000 annual meeting of stockholders. ALABAMA, GEORGIA,
GULF, MISSISSIPPI and SAVANNAH are incorporated by reference to page numbers
III-30 through III-34 in the SOUTHERN system's combined Form 10-K for the year
ended December 31, 1999.
<TABLE>
<CAPTION>
Name of Directors
or Nominees and Number of Shares
Executive Officers Title of Class Beneficially Owned (1)(2)
- ------------------ -------------- ------------------
SCS
<S> <C> <C>
A. W. Dahlberg SOUTHERN Common 522,928
H. Allen Franklin SOUTHERN Common 220,337
S. Marce Fuller SOUTHERN Common 23,842
Elmer B. Harris SOUTHERN Common 260,741
David M. Ratcliffe SOUTHERN Common 95,158
Gale Klappa SOUTHERN Common 61,479
Stephen Wakefield SOUTHERN Common 15,637
William L. Westbrook SOUTHERN Common 114,848
The directors, nominees
and executive officers
of SCS as a Group SOUTHERN Common 1,317,823 shares
SEGCO
Robert L. Boyer SOUTHERN Common 62,967
Thomas A. Fanning SOUTHERN Common 23,726
Michael Garrett SOUTHERN Common 18,216
Elmer B. Harris SOUTHERN Common 260,741
Robert H. Haubein, Jr. SOUTHERN Common 40,381
William B. Hutchins, III SOUTHERN Common 59,771
41
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART III.
Name of Directors
or Nominees and Number of Shares
Executive Officers Title of Class Beneficially Owned (1)(2)
- ------------------ -------------- ------------------
SEGCO (continued)
Charles D. McCrary SOUTHERN Common 40,008
David M. Ratcliffe SOUTHERN Common 95,158
Jerry L. Stewart SOUTHERN Common 24,221
The directors, nominees
and executive officers
of SEGCO as a Group SOUTHERN Common 633,189 shares
Southern LINC
A. W. Dahlberg SOUTHERN Common 522,928
Robert G. Dawson SOUTHERN Common 41,333
R. Craig Elder SOUTHERN Common 14,112
H. Allen Franklin SOUTHERN Common 220,337
Elmer B. Harris SOUTHERN Common 260,741
Rodney H. Johnson SOUTHERN Common 2,707
Julie T. Pigott SOUTHERN Common 763
David M. Ratcliffe SOUTHERN Common 95,158
W. L. Westbrook SOUTHERN Common 114,848
The directors, nominees
and executive officers
of Southern LINC
as a Group SOUTHERN Common 1,272,927 shares
42
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART III.
Name of Directors
or Nominees and Number of Shares
Executive Officers Title of Class Beneficially Owned (1)(2)
- ------------------ -------------- ------------------
Energy Solutions
Robert S. Beason SOUTHERN Common 18,059
Gale Klappa SOUTHERN Common 61,479
Bertram Sears SOUTHERN Common 4,583
Allen Leverett SOUTHERN Common 8,407
Thomas R. Thames SOUTHERNCommon 2,708
The directors, nominees
and executive officers
of Energy Solutions
as a Group SOUTHERN Common 95,235 shares
Southern Resources
A. W. Dahlberg SOUTHERN Common 522,928
H. Allen Franklin SOUTHERN Common 220,337
S. Marce Fuller SOUTHERN Common 23,842
Elmer B. Harris SOUTHERN Common 260,741
W. L. Westbrook SOUTHERN Common 114,848
Raymond D. Hill SOUTHERN Common 21,918
Frederick Kuester SOUTHERN Commons 25,468
Richard J. Pershing SOUTHERN Common 44,685
Barney S. Rush SOUTHERN Common 8,183
The directors, nominees
and executive officers
of Southern Resources as a Group SOUTHERN Common 1,296,751 shares
43
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART III.
Name of Directors
or Nominees and Number of Shares
Executive Officers Title of Class Beneficially Owned (1)(2)
- ------------------ -------------- ------------------
Southern Nuclear
A. W. Dahlberg SOUTHERN Common 522,928
H. Allen Franklin SOUTHERN Common 220,337
William G. Hairston, III SOUTHERN Common 91,621
Elmer B. Harris SOUTHERN Common 260,741
David M. Ratcliffe SOUTHERN Common 95,158
James B. Beasley, Jr. SOUTHERN Common 26,839
David N. Morey SOUTHERN Common 37,101
H. L. Sumner, Jr. SOUTHERN Common 15,455
Jack D. Woodard SOUTHERN Common 68,988
The directors, nominees
and executive officers of
Southern Nuclear as a Group SOUTHERN Common 1,339,167 shares
Notes to Item 6, Part III(b):
(1) As used in these tables, "beneficial ownership" means the sole or shared
power to vote, or to direct the voting of, a security and/or investment
power with respect to a security (i.e., the power to dispose of, or to
direct the disposition of, a security).
(2) The shares shown include shares of common stock of which certain directors and officers have the right to acquire beneficial
ownership within 60 days pursuant to the Executive Stock Option Plan, as follows: Mr. Beasley, 11,884 shares; Mr. Beason,
9,308 shares; Mr. Boyer, 16,991 shares; Mr. Dahlberg, 452,027 shares; Mr. Dawson, 17,586 shares; Mr. Elder, 3,784 shares;
Mr. Fanning, 16,422 shares; Mr. Franklin, 191,114 shares; Ms. Fuller, 19,650 shares; Mr. Garrett, 11,596 shares;
Mr. Hairston, 69,922 shares; Mr. Harris, 219,394 shares; Mr. Haubein,
37,975 shares; Mr. Hill, 19,650 shares; Mr. Hutchins, 43,701 shares; Mr. Klappa, 41,077 shares; Mr. Kuester, 17,871 shares;
Mr. Leverett, 8,407 shares; Mr. McCrary, 46,162 shares; Mr. Morey, 18,111 shares; Mr. Pershing, 19,650 shares; Mr.
Ratcliffe, 85,160 shares; Mr. Rush, 6,426 shares; Mr. Sears, 2,885 shares; Mr. Stewart, 16,843 shares; Mr. Sumner, 12,902
shares; Mr. Wakefield, 15,251 shares; Mr. Westbrook, 48,959 shares; and Mr. Woodard, 40,362 shares. Also included are
shares of SOUTHERN common stock held by the spouse of Mr. Harris, 310 shares.
</TABLE>
44
<PAGE>
ITEM 6. OFFICERS AND DIRECTORS.
PART III.
(c) Contracts and transactions with system companies.
ALABAMA, GEORGIA, GULF, MISSISSIPPI and SAVANNAH are incorporated by
reference to page numbers III-35 and III-36 in the SOUTHERN system's
combined Form 10-K for the year ended December 31, 1999.
(d)Indebtedness to system companies. None.
----------------------------------
(e)Participation in bonus and profit sharing arrangements and other benefits.
--------------------------------------------------------------------------
SOUTHERN is incorporated by reference to "Executive Compensation" under
ELECTION OF DIRECTORS in SOUTHERN's definitive Proxy Statement relating to
the 2000 annual meeting of stockholders. Also, ALABAMA, GEORGIA, GULF,
MISSISSIPPI and SAVANNAH are incorporated by reference to page
number III-29 in the SOUTHERN system's combined Form 10-K for the year
ended December 31, 1999.
SOUTHERN's Change in Control Plan is applicable to certain of its
officers, and individual change in control agreements have been entered
into with some of the most highly compensated executive officers of SCS,
SEGCO, Southern LINC, Southern Nuclear and Southern Resources. If an
executive is involuntarily terminated, other than for cause, within two
years following a change in control of SOUTHERN the agreements provide
for:
o lump sum payment of two or three times annual compensation,
o up to five years' coverage under group health and life insurance plans,
o immediate vesting of all stock options and stock appreciation rights
previously granted,
o payment of any accrued long-term and short-term bonuses and dividend
equivalents, and
o payment of any excise tax liability incurred as a result of payments made
under the agreement.
A change in control is defined under the agreements as:
o acquisition of at least 20 percent of the SOUTHERN's stock,
o a change in the majority of the members of the SOUTHERN's board of
directors,
o a merger or other business combination that results in SOUTHERN's
shareholders immediately before the merger owning less than 65 percent of
the voting power after the merger, or
o a sale of substantially all the assets of SOUTHERN.
If a change in control affects only a subsidiary of SOUTHERN, these
payments would only be made to executives of the affected subsidiary who
are involuntarily terminated as a result of that change in control.
SOUTHERN also has amended its short- and long-term incentive plans to
provide for pro-rata payments at not less than target-level performance if
a change in control occurs and the plans are not continued or replaced
with comparable plans.
On February 28, 1998, SOUTHERN and GEORGIA entered into a Deferred
Compensation Agreement with Mr. Franklin. On the fifth anniversary of the
Agreement, if still employed by SOUTHERN or one of its subsidiaries, Mr.
Franklin will receive the cash value of the number of shares of SOUTHERN
common stock that could have been purchased for $500,000 on February 28,
1998, and on which dividends were reinvested throughout the five-year
period. If certain performance goals are met, Mr. Franklin also will
receive the estimated income tax expense on the compensation. Mr. Franklin
may elect to defer receipt of the award until termination of employment.
GEORGIA assigned this agreement to SCS effective July 8, 1999.
On February 23, 1998, SOUTHERN and Southern Nuclear entered into a
Deferred Compensation Agreement with Mr. Woodard. On the fifth anniversary
of the Agreement, if still employed by SOUTHERN or one of its
subsidiaries, Mr. Woodard will receive the cash value of the number of
shares of SOUTHERN common stock that could have been purchased for
$200,000 on February 23, 1998, and on which dividends were reinvested
throughout the five-year period. If certain performance goals are met, Mr.
Woodard also will receive the estimated income tax expense on the
compensation. Mr. Woodard may elect to defer receipt of the award until
termination of employment.
On February 23, 1998, SOUTHERN and Southern Nuclear entered into a
Deferred Compensation Agreement with Mr. Hairston. On the fifth
anniversary of the Agreement, if still employed by SOUTHERN or one of its
subsidiaries, Mr. Hairston will receive the cash value of the number of
shares of SOUTHERN common stock that could have been purchased for
$250,000 on February 23, 1998, and on which dividends were reinvested
throughout the five-year period. If certain performance goals are met, Mr.
Hairston also will receive the estimated income tax expense on the
compensation. Mr. Hairston may elect to defer receipt of the award until
termination of employment.
45
<PAGE>
Effective June 30, 1999, SCS entered into a Deferred Compensation
Agreement with Mr. DeNicola, which provides for Mr. DeNicola to be paid a
severance payment of $1,765,000 and replacement benefit payments of $1,560
per month in the form of a straight life annuity. Payments under this
agreement are in addition to any other compensation and benefits to which
he may be entitled.
On July 17, 1999, SOUTHERN and Southern Resources entered into a
Separation Agreement with Mr. Boren, which provides for Mr. Boren to be
paid a severance payment of $750,000 and a prorated 1999 incentive award
under Southern Energy's Short-Term Incentive Plan at target. The agreement
continues the deferral of prior awards to Mr. Boren in Southern Energy's
Deferred Incentive Plan and permits vesting of his existing rights granted
under Southern Energy's Value Creation Plan. Also, it entitles him to
exercise vested rights until the end of the first exercise window after
his last unvested rights, vest.
On October 5, 1999, SOUTHERN and Southern Resources entered into a
Deferred Compensation Agreement with Ms. Fuller. On July 1, 2003, if still
employed by SOUTHERN or one of its subsidiaries, Ms. Fuller will receive
the cash value of the number of shares of SOUTHERN common stock that could
have been purchased for $400,000 on October 5, 1999, and on which
dividends were reinvested throughout the period. If certain performance
goals are met, Ms. Fuller also will receive the estimated income tax
expense on the compensation. Ms. Fuller may elect to defer receipt of the
award until termination of employment.
On October 5, 1999, SOUTHERN and Southern Resources entered into a
Deferred Compensation Agreement with Mr. Klappa. On July 1, 2003, if still
employed by SOUTHERN or one of its subsidiaries, Mr. Klappa will receive
the cash value of the number of shares of common stock that could have
been purchased for $260,000 on October 5, 1999, and on which dividends
were reinvested throughout the period. If certain performance goals are
met, Mr. Klappa also will receive the estimated income tax expense on the
compensation. Mr. Klappa may elect to defer receipt of the award until
termination of employment.
Southern Resources has entered into compensation agreements with Messrs.
Hill and Pershing. These are similar to Ms. Fuller's agreement except that
the phantom SOUTHERN stock has an original value of $300,000. In addition,
if Mr. Hill is still employed by Southern Resources on a specific
date in 2003, his retirement payments are calculated as if 10 years
of additional service are included in the pension and supplemental
executive retirement plan. Calculations. If Mr. Pershing is still
employed by Southern Resources on a specific date in 2003,
his retirements payments are calculated as if three years of
additional service are included in the pension and supplemental executive
retirement plan calculations. Southern Resources may, at its discretion,
enhance the retirement benefit by providing one additional year of credit
for each year worked, up to three additional years.
Southern Resources has also entered into compensation agreements with
Messrs. Kuester and Rush. The agreements provide for the award of $100,000
in our phantom stock, valued as of December 31, 1998 and vested on January
1, 2003 if the executives are still employed by Southern Resources.
In addition, Mr. Kuester has an agreement in place that would
immediately vest all of his outstanding Value Creation Plan units
upon his return from his current assignment at CEPA (now Southern
Energy Asia-Pacific Limited).
(f) Rights to indemnity. Incorporated by reference are the by-laws,
for the companies of the SOUTHERN system, contained herein as Exhibits.
--------------------
46
<PAGE>
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS.
(1) Expenditures, disbursements or payments, directly or indirectly, in
money, goods or services, to or for the account of any political party,
candidate for public office or holder of such office, or any committee or agent
thereof.
<TABLE>
<CAPTION>
Accounts Charged,
if any, per Books
of Disbursing
Name of Company Name of Recipient or Beneficiary Purpose Company Amount($)
- --------------- -------------------------------- ------- ------- ---------
None
ALABAMA, GEORGIA, GULF, MISSISSIPPI and SAVANNAH have established
political action committees and have incurred certain costs in the
administration of these committees in accordance with the provisions of the
Federal Election Campaign Act and the Public Utility Holding Company Act.
(2) Expenditures, disbursements or payments, directly or indirectly, in
money, goods or services, to or for the account of any citizens group
or public relations counsel.
The information called for by this item was compiled, and memoranda
from each company in the system were received and are being preserved by
SOUTHERN, in accordance with the instructions to this item.
Accounts Charged,
if any, per Books
of Disbursing
Name of Company Name of Recipient or Beneficiary Purpose Company Amount($)
- --------------- -------------------------------- ------- ------- ---------
<S> <C> <C> <C> <C>
ALABAMA Business Council of Alabama Dues & Support 930,426 409,005
Cahaba River Society Support 793,426 2,760
Edison Electric Institute Dues 426,728,921,930 528,029
National Association of Manufacturers Dues 426 15,000
Nature Conservancy Dues 426 1,250
Nature Conservancy of Alabama Support 426 6,100
Nuclear Energy Institute Dues 524,426 328,933 *
Public Affairs Research Council of Alabama Dues & Support 921,426 10,400
GEORGIA Buckhead Coalition Dues 930 5,000
Central Atlanta Progress Dues 930 26,750
Edison Electric Institute Dues 426,930 734,224
Georgia Conservancy Support 426 25,000
n/a 25,000 **
Georgia Council for International Visitors Dues 930 2,500
Georgia Council on Economic Education Dues n/a 22,000 **
Nature Conservancy Support 426 15,000
n/a 225,000 **
Nuclear Energy Institute Dues 524,426 375,253 ***
Regional Business Coalition Dues 930 6,000
The Conservation Fund Dues 930 1,000
The Japan-America Society of Georgia Dues 930 1,200
* This amount was paid by Southern Nuclear and billed to ALABAMA.
** Georgia Power Foundation.
*** This amount, which excludes dues billed to joint owners of Plants Hatch
and Vogtle, was paid by Southern Nuclear and billed to GEORGIA.
47
<PAGE>
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS. (Continued)
Accounts Charged,
if any, per Books
of Disbursing
Name of Company Name of Recipient or Beneficiary Purpose Company Amount($)
- --------------- -------------------------------- ------- ------- ---------
GULF Associated Industries of Florida Dues 930 7,000
Century Chamber of Commerce Support 912 10,000
Economic Development Council -
Bay County Dues & Support 912 5,000
Economic Development Council -
Okaloosa County Dues & Support 912 12,750
Economic Development Council -
Walton County Support 912 15,000
Edison Electric Institute Dues 426,930 179,942
Enterprise Florida Support 912 38,500
Florida Chamber of Commerce Dues 912 12,000
Florida Public Relations Association Dues 921 605
Florida State Society of Washington, D.C. Dues 426 300
Florida TaxWatch, Inc. Dues 426 5,000
Foundation for the Future Support 912 50,000
Haas Center - University of West Florida Support 912 28,089
Northwest Florida Regional Economic
Development Coalition Support 912 87,493
T.E.A.M. Santa Rosa - Council of
Economic Activity Dues & Support 912 11,000
Washington County Chamber of Commerce Support 912 10,000
Other Economic Development Councils/
Activity Groups (9 Beneficiaries) Dues & Support 426,912,930 16,592
MISSISSIPPI American National Standards Institute Dues 930 2,859
Business and Industry Political
Education Committee Dues 930 7,000
East Mississippi Business Development
Corporation Dues 930 10,000
Edison Electric Institute Dues 426,930 86,316
Mississippi Association of Supervisors Dues 930 1,000
Mississippi Economic Council Dues 426,930 15,000
Mississippi Gulf Coast Chamber of Commerce Dues 930 3,445
Mississippi Manufacturers Association Dues 930 1,575
Mississippi Society of Washington Dues 930 1,500
Retail Association of Mississippi Dues 930 1,600
48
<PAGE>
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS. (Continued)
Accounts Charged,
if any, per Books
of Disbursing
Name of Company Name of Recipient or Beneficiary Purpose Company Amount($)
- --------------- -------------------------------- ------- ------- ---------
SAVANNAH Association County Commissioners
of Georgia Dues 930 500
Edison Electric Institute Dues 426,930 72,652
Georgia Conservancy Support 426 2,500
Georgia Council on Economic Education Dues 426 2,000
Georgia Economic Developers Association Dues 921/930 600
Georgia Municipal Association Dues 930 500
Nature Conservancy Support 426 5,000
National Association of Manufacturers Dues 930 1,500
Savannah Tree Foundation Support 426 5,000
Tourism Leadership Council Dues 930/908 500
Other Economic Development Councils/
Activity Groups (4 beneficiaries) Dues 930,921 1,088
49
</TABLE>
<PAGE>
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS.
PART I.
<TABLE>
<CAPTION>
In Effect
on Dec. 31
Transactions Serving Company Receiving Company Compensation Contract (Yes or No)
(1) (2) (3) (4) (5) (6)
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
(Note) (Note) SEI (Note) (Note) Yes
(Note) (Note) Southern LINC (Note) (Note) Yes
(Note) (Note) Energy Solutions (Note) (Note) Yes
Sublease of railcars MISSISSIPPI ALABAMA $1,252,555 Yes
Sublease of railcars MISSISSIPPI GEORGIA $1,322,723 Yes
Sublease of railcars MISSISSIPPI SAVANNAH $1,046 Yes
Sublease of railcars SAVANNAH ALABAMA $7,879 Yes
Sublease of railcars SAVANNAH GEORGIA $366,005 Yes
Sublease of railcars SAVANNAH GULF $655 Yes
Note:
Southern Resources, Southern LINC, and Energy Solutions have agreements with
SCS, ALABAMA, GEORGIA, GULF, MISSISSIPPI and SAVANNAH pursuant to which Southern
Resources, Southern LINC and Energy Solutions reimburse each of such companies
for the full cost of services, personnel and facilities provided to Southern
Resources, Southern LINC and Energy Solutions.
Pursuant to such agreements, during 1999 the total reimbursements to SCS,
ALABAMA, GEORGIA, GULF, MISSISSIPPI and SAVANNAH from Southern Resources were
$17,353,319; $37,828; $1,160,329; $0; $0; and $0, respectively; from Southern
LINC were $39,857,208; $1,637,407; $1,174,945; $162,378; $177,726; and $42,868,
respectively; and from Energy Solutions were $9,976,355; $831,258; $1,052,637;
$16,292; $15,086; and $58,620, respectively.
Part II.
None.
Part III.
None.
</TABLE>
50
<PAGE>
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
Part I(a)
Key terms: FUCO means Foreign Utility Company
FUCO-S means a subsidiary of a FUCO
EWG means Exempt Wholesale Generator
IS means Intermediate Subsidiary
PP means Project Parent
SPS means Special Purpose Subsidiary
<TABLE>
<CAPTION>
- --------------------------------------------------- ---------- ----------------------------------- ------------------ ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, IS ----------------------------------
TRANSMISSION,
DISTRIBUTION
- --------------------------------------------------- ---------- ----------------------------------- ------------------ ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
<S> <C> <C> <C> <C> <C> <C>
1. Southern Electric Bahamas IS N/A N/A N/A Southern 100%
Holdings, Ltd. Energy-Newco2,
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
2. Southern Electric Bahamas, Ltd. IS N/A N/A N/A Southern Electric 100%
900 Ashwood Parkway, Suite 500 Bahamas
Atlanta, GA 30338 Holdings, Ltd.
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
3. ICD Utilities Limited IS N/A N/A N/A Southern Electric 25%
P.O. Box F-42666 Bahamas, Ltd.
Freeport, Grand Bahamas, Bahamas Foreign Company 75%
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
4. Freeport Power Company, Ltd. FUCO Note Note Note Southern Electric 50%
Freeport, Grand Bahamas, Bahamas (1) (2) (3) Bahamas, Ltd.
Port Authority Building ICDU Utilities
P.O. Box F-40888 Limited 50%
Freeport, Grand Bahamas, Bahamas
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
5. SEI Operadora de Argentina, S.A. FUCO N/A N/A N/A Southern Energy 99.99%
Buenos Aires, Argentina Resources, Inc.
LN Alem 712 - Piso 7 Southern Energy, .01%
(1001) Buenos Aires, Argentina Inc.
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
6. Southern Electric International Asia, Inc. SPS N/A N/A N/A Southern Energy 100%
18/F Hong Kong Telecom Tower, Resources Inc.
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
7. Southern Electric International GmbH, Inc. SPS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Resources Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
8. Southern Energy Inc. IS N/A N/A N/A The Southern Co. 100%
900 Ashwood Parkway, Suite 500
Atlanta, GA 30338
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
9. Asociados de Electricidad, S.A. IS N/A N/A N/A Southern Energy, 100%
Buenos Aires, Argentina Inc.
LN Alem 712 - Piso 7
(1001) Buenos Aires, Argentina
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
51
<PAGE>
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
10. SEI y Asociados de Argentina, S.A. IS N/A N/A N/A Southern Energy, 40.52%
Buenos Aires, Argentina Inc.
LN Alem 712 - Piso 7 SEI Worldwide 45.79
(1001) Buenos Aires, Argentina Holdings GmbH
Asociados de 1.0%
Electricidad, 5.55%
S.A.
Third Party
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
11. Hidroelectrica Alicura, S.A. FUCO Note N/A N/A SEI y Asociados 59%
Buenos Aires, Argentina (1) de
LN Alem 712 - Piso 7 Argentina, S.A. 41%
(1001) Buenos Aires, Argentina Third Party
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
12. Southern Energy Resources, Inc. IS N/A N/A N/A Southern Energy, 100%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
13. SEI Chile, S.A. IS N/A N/A N/A Southern 100%
Apoquindo 3721 Energy-Newco2,
Oficina 114 Inc.
Edificio "Torre Las Condes"
Las Condes, Chile
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
14. Inversiones SEI Chile Limitada IS N/A N/A N/A SEI Chile, S.A. 99%
Apoquindo 3721 Southern Energy, 1%
Oficina 114 Inc.
Edificio "Torre Las Condes"
Las Condes, Chile
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
15. Electrica SEI Chile Limitada (Inactive) IS N/A N/A N/A SEI Chile, S.A. 97.05%
Apoquindo 3721 Southern Energy,
Oficina 114 Inc 1%
Edificio "Torre Las Condes"
Las Condes, Chile
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
16. Empresa Electrica del Norte Grande, S.A. FUCO Note Note N/A SEI Chile, SA 82.34%
Antofagasta, Chile (3) (2) Third Party 8.85%
Avenida Grecia 750
Casilla 1290
Antofagasta, Chile
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
17. Sitranor S. A. SUB N/A N/A N/A Empressa 60%
Antofagasta, Chile OF Electric a del
Avenida Grecia 750 FUCO Norte Grande, SA
Casilla 1290 Third Party 40%
Antofagasta, Chile
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
17a. Gasoducto Nor Andino Argentina, S.A. IS N/A N/A N/A Tractebel 66.67%
Energia del 33.33%
Limitada
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
52
<PAGE>
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
17b.Gasoducto Nor Andino S.A IS N/A N/A N/A Tractebel 66.67%
Energia del 33.33%
Limitada
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
18. Energia del Pacifico IS N/A N/A N/A Edelnor 99%
Apoquindo 3721, Oficina 114 S.E. Chile 1%
Edificio, Las Condes, Santiago, Chile
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
19. Energia de Nuevo Leon, SA De CV FUCO N/A N/A N/A The Southern 33.33%
900 Ashwood Parkway, Suite 500 Company
Atlanta, GA 30338 Foreign Corp. 33.33%
Foreign Govt. 33.33%
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
20. Southern Electric International, Europe Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 International,
Atlanta, GA 30338 Inc.
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
21. Southern Electric International, Inc. IS N/A N/A N/A Southern Energy,
900 Ashwood Parkway, Suite 500 Inc. 100%
Atlanta, GA 30338
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
22. Southern Investment UK, plc IS N/A N/A N/A SWEB Holdings 100%
31 Curzon Street Limited
London, WIY 7AE
England
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
23. South Western Electricity, plc FUCO Note N/A Note Southern 100%
800 Park Avenue (1) (3) Investment UK,
Aztec West plc
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
24. Electricity Association Limited FUCO SUB N/A N/A N/A South Western 5.9%
800 Park Avenue Electricity, plc
Aztec West Third Party 94.1%
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
25. SWEB Finance Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
26. Electricity Association Technology Limited SUB N/A N/A N/A South Western 7.7%
Capenhurst OF Electricity, plc 92.3%
Chester CH1 6ES FUCO Third Party
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
27. SWEB Telecom Limited (Inactive) SUB N/A N/A N/A South Western 100%
800 Park Avenue OF Electricity, plc
Aztec West FUCO
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
28. SWEB Gas Limited (Inactive) SUB N/A N/A N/A South Western 100%
800 Park Avenue OF Electricity, plc
Aztec West FUCO
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
29. South Western Energy Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
53
<PAGE>
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
30. SWEB Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
31. SWEB Natural Gas Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- --------------- --------- --------- ------------------ ------------
32. South Western Natural Gas Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
33.Western Natural Gas Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
34. SWEB Retail Limited (Inactive) FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
35. Electricity Pensions Limited FUCO SUB N/A N/A N/A South Western 0%
110 Buckingham Palace Road Electricity, plc Note (4)
London SW1 W9SL
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
36. Electricity Pensions Trustee Limited FUCO SUB N/A N/A N/A South Western 5%
110 Buckingham Palace Road Electricity, plc
London SW1 W9SL Third Party 95%
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
37. ESN Holdings Limited FUCO SUB N/A N/A N/A South Western 4.5%
800 Park Avenue Electricity, plc
Aztec West Third Party 95.5%
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
38. REC Collect Limited FUCO SUB N/A N/A N/A South Western 25.0%
800 Park Avenue Electricity, plc
Aztec West Third Party 75.0%
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
54
<PAGE>
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
39. South Western Power Limited FUCO SUB Note N/A N/A South Western 100%
800 Park Avenue (1) Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
40. South Western Power Investments Limited FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Power Limited
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
41. Non-Fossil Purchasing Agency Limited FUCO SUB N/A N/A N/A South Western 8.3%
Bamburgh House Electricity, plc
Market Street Third Party 91.7%
Newcastle-upon-Tyne NE1 6BH
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
42. Winterton Power Limited FUCO SUB Note N/A N/A South Western 25.0%
800 Park Avenue (1) Power
Aztec West Investments
Almondsbury, Bristol BS12 4SE Limited 75.0%
Third Party
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
43. Teeside Power Limited FUCO SUB Note N/A N/A South Western 7.7%
4 Millbank (1) Power
Westminster Investments
London SW1P 3ET Limited 92.3%
Third Party
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
44. Wind Resources Limited FUCO SUB N/A N/A N/A South Western 45.0%
800 Park Avenue Power
Aztec West Investments
Almondsbury, Bristol BS12 4SE Limited 55.0%
Third Party
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
45. Coal Clough Limited FUCO SUB Note N/A N/A Wind Resources 100%
800 Park Avenue (1) Limited
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
46. Carland Cross Limited FUCO SUB Note N/A N/A Wind Resources 100%
800 Park Avenue (1) Limited
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
47. SWEB Property Investments Ltd. FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- ------------- ----------- --------- ------------------ ------------
55
<PAGE>
- --------------------------------------------------- --------- ---------------------------- --------------------- -----------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- --------- ---------------------------- --------------------- -----------
GEN TRAN DIST
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
48. SWEB Property Developments Ltd. FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
49. Temple Back Developments Ltd. FUCO SUB N/A N/A N/A SWEB Property 49.0%
800 Park Avenue Developments Ltd.
Aztec West Third Party
Almondsbury, Bristol BS12 4SE 51.0%
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
50. Weston Super Mare Developments Limited FUCO SUB N/A N/A N/A Temple Back 100%
800 Park Avenue Developments, Ltd.
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
51. SWEB Investments Limited FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
52. South West Enterprise Limited FUCO SUB N/A N/A N/A South Western 0%
800 Park Avenue Electricity, plc Note (4)
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
53. Croeso Systems Development Ltd. FUCO SUB N/A N/A N/A SWEB Investments 50.0%
Newport Road 1996 Limited
St Mellons Third Party
Cardiff CF3 9XW 50.0%
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
54. Midlands Enterprises Fund FUCO N/A N/A N/A SWEB Investments 26.80%
Newport Road SUB 1996 Limited
St Mellons
Cardiff CF3 9XW
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
55.Wind Electric Limited FUCO SUB N/A N/A N/A South Western Power 11.7%
Deli Investments Limited
Delabole Third Party
Cornwall PL33 9BZ 88.3%
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
56.St. Clements Services Limited FUCO SUB N/A N/A N/A South Western 9.1%
210 High Holborn Electricity, plc
London WC1V 7BW Third Party 90.9%
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
57.SWEB Data Collection Services Limited FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
56
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- -----------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- -----------
GEN TRAN DIST
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
58.SWEB Investments 1996 Limited FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- --------- --------- --------- -------- --------------------- -----------
59.UK Data Collections Services Limited FUCO SUB N/A N/A N/A South Western 8.3%
Chesterton House Electricity, plc
352 Avebury Boulevard Third Party 91.7%
Central Milton Keynes MK9 2JH
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
60. South Western Helicopters Limited FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
61. Concorde House Limited FUCO SUB N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
62.SWEB Insurance Limited FUCO N/A N/A N/A South Western 100%
Dixcart House, Sir William Place SUB Electricity, plc
St. Peter Port, Guernsey
Channel Islands GY 1 4NB
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
63. AZTEC Insurance Ltd. FUCO SUB N/A N/A N/A South Western 100%
Dixcart House, Sir William Place Electricity, plc
St Peter Port, Guernsey
Channel Islands GY1 4NB
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
64. SWEB Pension Trustee Limited IS N/A N/A N/A South Western 100%
800 Park Avenue Electricity, plc
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
65. South Western Electricity Share Scheme FUCO SUB N/A N/A N/A South Western 100%
Trustees Limited (Inactive) Electricity, plc
800 Park Avenue
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
66.Electralink Limited FUCO SUB N/A N/A N/A South Western 6.19%
Templar House Electricity, plc
81-87 High Holborn Third parties 93.81%
London WC1V 6NU
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- -----------
57
<PAGE>
- --------------------------------------------------------- -------- ---------------------------- -------------------- -----------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------------- -------- ---------------------------- -------------------- -----------
GEN TRAN DIST
- --------------------------------------------------------- -------- -------- ---------- -------- -------------------- -----------
67.Northmere Limited FUCO N/A N/A N/A South Western 0%
30 Millbank SUB Electricity plc
London SW1P 4RD + Others
- --------------------------------------------------------- -------- -------- ---------- -------- -------------------- -----------
68.Green Electron Limited FUCO N/A N/A N/A South Western 90%
30 Millbank SUB Power Limited
London SW1P 4RD Foreign Corp. 10%
- --------------------------------------------------------- -------- -------- ---------- -------- -------------------- -----------
69. Southern Electric International -Netherlands B.V. IS N/A N/A N/A Southern Energy 100%
(formerly Tesro Holding, B.V.) International -
Amsterdam, The Netherlands Inc.
Hoekenrode 6-8
1102 BR Amsterdam
The Netherlands
- --------------------------------------------------------- -------- -------- ---------- -------- -------------------- -----------
70.Southern Energy UK Generation Limited IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Europe, Inc.
Atlanta, GA 30338
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
71.Southern Energy Development - Europe Limited IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Europe, Inc.
Atlanta, GA 30338
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
72. Southern Electric, Inc. EWG N/A N/A N/A Southern Energy, 100%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
73. SEI Beteilligungs, GmbH IS N/A N/A N/A Southern Electric
900 Ashwood Parkway, Suite 500 International - 100%
Atlanta, GA 30338 Europe, Inc.
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
74. P.T. Tarahan Power Company SPS N/A N/A N/A SEI 55%
JL.H.R. Rasuna Said Kav B-1 Beteilligungs,
Gedung Wisma Bakrie Setiabudi GmbH
Jakarta, Selatan 12920 Third Party 42.5%
Foreign Domes. 2.5%
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
75. Southern Electric International Trinidad, Inc. EWG N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 International,
Atlanta, GA 30338 Inc.
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
76. The Power Generation Company of EWG Note N/A N/A Southern Electric 39%
Trinidad & Tobago, Limited (1) International
6A Queens Park West Trinidad, Inc.
Port of Spain, Trinidad, West Indies Domestic Corp 10%
Foreign Govt. 51%
- --------------------------------------------------------- -------- -------- ---------- -------- ------------------- ------------
58
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- --------------------- --------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- --------------------- --------------
77. Southern Electric do Brasil Participacoes, IS N/A N/A N/A Cayman Energy 90.6%
Limitada Traders
900 Ashwood Parkway, Suite 500 Foreign Pension 9.4%
Atlanta, GA 30338
- --------------------------------------------------- ---------- ------- ---------- --------- --------------------- --------------
78. Southern Energy North America, Inc. IS N/A N/A N/A Southern Energy, 100%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- ------- ---------- --------- --------------------- --------------
79. SEI Michigan Holdings, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 North America, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- ------- ---------- --------- --------------------- --------------
80.SEI Michigan, LLC EWG N/A N/A N/A SEI Michigan 100%
900 Ashwood Parkway, Suite 500 Holdings, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- ------- ---------- --------- --------------------- --------------
81. Southern Energy Trading and Marketing, IS N/A N/A N/A Southern Energy 100%
Inc. (formerly Southern Energy Marketing Inc.) Ventures, Inc.
900 Ashwood Parkway, Suite 500
Atlanta, GA 30338
- --------------------------------------------------- ---------- ------- ---------- --------- --------------------- --------------
82. SC Energy Ventures, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Trading and
Atlanta, GA 30338 Marketing, Inc.
- --------------------------------------------------- ---------- ------- ---------- --------- --------------------- --------------
83. Southern Company Energy Marketing L.P. IS N/A N/A N/A SC Energy Ventures, 59.4%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338 Southern Company 1%
Energy Marketing
G.P., L.L.C
Domestic Corporation
39.6%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
84. Southern Company Retail Energy Marketing L.P. IS N/A N/A N/A Southern Company 99%
900 Ashwood Parkway, Suite 500 Energy Marketing
Atlanta, GA 30338 L.P.,
Southern Company 1%
Energy Marketing
G.P. L.L.C.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
85. Southern Energy Retail Trading and Marketing, IS N/A N/A N/A Southern Energy 100%
Inc. Trading and
900 Ashwood Parkway, Suite 500 Marketing, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
86a. Southern Producer Services, LLP SPS N/A N/A N/A SC Energy Ventures, 99%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338 SC Ashford 1%
Holdings, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
59
<PAGE>
- -------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
86b. SC Ashwood Holdings, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Ventures, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
87. Southern Company Energy Marketing G. P., IS N/A N/A N/A SC Ashwood 60%
L.L.C. Holdings, Inc.
900 Ashwood Parkway, Suite 500 Domestic Corporation 40%
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
88. SEI Birchwood, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 North America Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
89. Greenhost, Inc. EWG N/A N/A N/A SEI Birchwood, Inc. 50%
900 Ashwood Parkway, Suite 500 Domestic Corporation
Atlanta, GA 30338 50%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
90. Birchwood Power Partners, L.P. EWG Note N/A N/A SEI Birchwood, Inc. 50%
900 Ashwood Parkway, Suite 500 (1) Third Party
Atlanta, GA 30338 50%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
91. SEI Hawaiian Cogenerators, Inc. EWG N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 North America, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
92. Southern Energy - Cajun, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 North America, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
93.Louisiana Generating, LLC IS N/A N/A N/A Southern 40%
900 Ashwood Parkway, Suite 500 Energy-Cajun, Inc.
Atlanta, GA 30338 Third Party 60%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
94. Southern Energy North America Generating Inc. SPS N/A N/A N/A Southern Energy 100%
900 Ashford Parkway, Suite 500 North America, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
95. SEI State Line, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 North America
Atlanta, GA 30338 Generating, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
96. State Line Holding Corporation IS N/A N/A N/A SEI State Line, Inc. 100%
900 Ashwood Parkway, Suite 500
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
97. State Line Energy, L.L.C. EWG N/A N/A N/A SEI State Line, Inc. 60%
900 Ashwood Parkway, Suite 500 State Line Holding
Atlanta, GA 30338 Corporation 40%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
60
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
98. Southern Energy International, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
99. Southern Energy do Brazil Ltda. SPS N/A N/A N/A Southern Energy 99.85%
900 Ashwood Parkway, Suite 500 International, Inc.
Atlanta, GA 30338 Southern Energy .15%
Resources, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
100. Southern Energy-Newco2, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 International, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
101.Southern Energy- Asia, Inc. IS N/A N/A N/A Southern Energy 100%
Suite 1401, Two Exchange Square International, Inc.
8 Connaught Place
Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
102. Southern Energy Asia Ventures, Inc. IS N/A N/A N/A Southern Energy 100%
Asia, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
103.Consolidated Electric Power Asia Limited SPS N/A N/A N/A Southern Energy 90%
18/F Hong Kong Telecom Tower, Asia, Inc.
Taikoo Place, 979 King's Road Southern Energy 10%
Quarry Bay, Hong Kong Asia Ventures, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
104.Allied Queensland Coalfields, Pty Ltd SPS* N/A N/A N/A CEPA Fuels Ltd. 95.17%
(formerly Allied Queensland Ltd.) Marsford
Bailey New Road, via Macalister, Dalby Investments Pte.
QLD 4405, Australia Ltd. 4.83%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
105.Aberdare Collieries Pty Limited SPS N/A N/A N/A Allied Queensland 100%
18/F Hong Kong Telecom Tower, Coalfield Pty
Taikoo Place, 979 King's Road Limited (formerly
Quarry Bay, Hong Kong Allied Queensland
Coalfields. Ltd.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
106.AQC (Wilkie Creek) Pty Ltd. SPS N/A N/A N/A AQC (Kogan Creek) 100%
18/F Hong Kong Telecom Tower, Pty Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
107.AQC (Kogan Creek) Pty Limited SPS N/A N/A N/A Allied Queensland 100%
Level 11, Westpac Building, Coalfields Pty
260 Queens Street, Bisbane Limited
QLD 4000, Australia
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
108.Baralaba Coal Pty Limited SPS N/A N/A N/A Allied Queensland 100%
18/F Hong Kong Telecom Tower, Coalfields Pty
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
61
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
109.CEPA Power China (BVI) Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
110.CEPA Energy (BVI) Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
111.CEPA Project Management (BVI) Company Limited IS N/A N/A N/A Consolidated 100%
* Electric Power Asia
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
112.CEPA Energy International (BVI) Ltd. * SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
113.CEPA Slipform Power Systems (BVI) Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
114.CEPA Tileman Power Systems (BVI) Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
115.CEPA Mobile Power Systems (BVI) IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
116.CEPA Guangxi Energy (BVI) Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
117.CEPA Nominee (BVI) Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
118.CEPA Construction Resources (BVI) SPS N/A N/A N/A CEPA Construction 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- --------------
* Dissolved in 1999.
62
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
119. Consolidated Construction Resources Ltd. SPS N/A N/A N/A CEPA Construction 50%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
120. HOPEC Engineering Design Limited SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Construction
Taikoo Place, 979 King's Road Resources Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
121.CEPA Construction (Hong Kong) Limited SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
122.CEPA Operations, (Hong Kong) Limited SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
123.CEPA Eastern Power Plant Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
124.CEPA Pangasinan Electric Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
125.CEPA Pakistan (BVI) Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
126.CEPA India (BVI) Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
127.CEPA Operations (Phillippines) Corp. SPS N/A N/A N/A CEPA Operations, 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
63
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
128.CEPA Project Management and Engineering (BVI) IS N/A N/A N/A Consolidated 100%
Limited Electric Power
18/F Hong Kong Telecom Tower, Asia Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
129.CEPA Energy Pakistan Limited (in liquidation) FUCO N/A N/A N/A CEPA Pakistan 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
130.CEPA Procurement (BVI) Ltd * IS N/A N/A N/A CEPA Construction 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
131.CEPA Sourcing (BVI) Ltd * IS N/A N/A N/A CEPA Construction 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
132.CEPA Procurement (Delaware) L.L.C. * SPS N/A N/A N/A CEPA (BVI) 51%
18/F Hong Kong Telecom Tower, Procurement Limited
Taikoo Place, 979 King's Road CEPA Sourcing
Quarry Bay, Hong Kong Limited 49%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
133.CEPA Fuels Limited (formerly CEPA Mining and IS N/A N/A N/A Consolidated 100%
Engineering Limited) Electric Power
18/F Hong Kong Telecom Tower, Asia Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
134.Marsford Investments Pte Ltd. I/S N/A N/A N/A CEPA Fuels Limited 100%
18/F Hong Kong Telecom Tower,
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
135.Carrigon Management Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
136a.Cachelot Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
* Company dissolved in 1999.
64
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
136b.CEPA Services Corp. SPS N/A N/A N/A Southern Energy 100%
18/F Hong Kong Telecom Tower, Mobile, Inc.
Taikoo Place, 979 King's Road (formerly Hopewell
Quarry Bay, Hong Kong Mobil Powe Systems
Corp.)
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
136c.CEPA Investment (Mauritius) Limited IS N/A N/A N/A CEPA India (BVI) 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
136d.Consolidated Electric Power Asia Limited FUCO N/A N/A N/A CEPA Investment 100%
(India) Private Limited (Mauritius) Limited
18/F Hong Kong Telecom Tower,
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
137.CEPA Guangxi Energy Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
138.Excellent Crown Limited * SPS N/A N/A N/A CEPA Intern'l 100%
18/F Hong Kong Telecom Tower, Finance Corp.
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
139.Fortune Wheels Investment Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
140.Five Stars Venture Limited IS N/A N/A N/A CEPA Operations 16.98%
18/F Hong Kong Telecom Tower, (Hong Kong) Limited
Taikoo Place, 979 King's Road CEPA Project
Quarry Bay, Hong Kong Management and 15.11%
Engineering (BVI)
Limited
CEPA Construction
(Hong Kong) Limited 67.91%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
* Company dissolved in 1999.
65
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
141.CEPA Navatoas I Limited (formerly Hopewell IS N/A N/A N/A Consolidated 100%
Project Management Company Limited ) Electric Power
18/F Hong Kong Telecom Tower, Asia Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
142.Southern Energy (Shajiao C) Limited (Formerly IS N/A N/A N/A Consolidated 79.99%
Hopewell Energy Limited) International
18/F Hong Kong Telecom Tower, Financial
Taikoo Place, 979 King's Road Corporation
Quarry Bay, Hong Kong Stenus .01%
Third Parties 20%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
143.Guangdong Guanghope Power Co., Ltd. FUCO N/A N/A N/A Southern 40%
18/F Hong Kong Telecom Tower, Energy(Shajiao
Taikoo Place, 979 King's Road C)Limited 60%
Quarry Bay, Hong Kong Foreign Company
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
144.CEPA Pagbilao Limited (formerly Hopewell IS N/A N/A N/A Consolidated 100%
Energy International Limited) Electric Power
18/F Hong Kong Telecom Tower, Asia Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
145.Southern Energy Navotas, Inc. (formerly FUCO N/A N/A N/A CEPA Navotas I 60.1%
Hopewell Energy (Phillippines) Corp.) Limited (formerly
5/F CTC Building, 2232, Roxas Blvd. Hopewell Project
Pasay City, Metro Manila Management Company
Philippines Limited)
Foreign Company 10%
SE Holdings Phil. 29.9%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
146.Southern Energy Quezon, Inc. (formerly FUCO N/A N/A N/A Southern Energy 87.22%
Hopewell Power (Phillippines) Corp.) Holdings
5/F CTC Building, 2232 Roxas Blvd. Phillipines, Inc.
Pasay City, Metro Manila Foreign Company 12.78%
Philippines Third Party
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
147.Southern Energy Navotos II Power, Inc. FUCO N/A N/A N/A S.E. Holdings 100%
(formerly Hopewell Tileman (Phillippines) Philippines, Inc.
Corp.)
18/F Hong Kong Telecom Tower,
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
66
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
148.Southern Energy Mobile, Inc. (formerly FUCO N/A N/A N/A S.E. Holdings 100%
Hopewell Mobile Power Systems Corp.) Philippines, Inc.
18/F Hong Kong Telecom Tower,
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
149.Hopewell Energy International (BVI) Limited * IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
150.Lemon Grove Investments Pty Limited SPS N/A N/A N/A Allied Queensland 100%
18/F Hong Kong Telecom Tower, Coalfields Pty
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
151.Montana Enterprises Limited SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
152.New Whitwood Collieries Pty Ltd. SPS N/A N/A N/A Aberdare 100%
18/F Hong Kong Telecom Tower, Collieries Pty Ltd.
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
153.Navotas II (BVI) Holdings Corp. IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
154a.Southern Energy Pangasinan, Inc. (formerly FUCO N/A N/A N/A CEPA Pangasinan 91.91%
Pangasinan Electric Corporation) Electric Limited
18/F Hong Kong Telecom Tower, Third Parties 8.09%
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
154b. Southern Energy Sual Holdings, Inc. FUCO N/A N/A N/A CEPA Pangasinan 100%
5/F CTC Building, 2232 Roxas Blvd. Electric
Pasay City, Metro Manila, Philippines Corporation
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
155.Southern Energy Resources and SPS N/A N/A N/A CEPA Construction 40%
Development Corporation (formerly Pagbilao (Hong Kong)Limited
Shipping Corporation) Edgardo Bautista
18/F Hong Kong Telecom Tower,
Taikoo Place, 979 King's Road 60%
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
67
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
156.Phillippine Power and Infrastructure Holding IS N/A N/A N/A Consolidated 100%
Corporation Electric Power
18/F Hong Kong Telecom Tower, Asia Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
157.Riverview Coal Terminal Pty Ltd. SPS N/A N/A N/A Aberdare 100%
18/F Hong Kong Telecom Tower, Collieries Pty Ltd.
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
158.CEPA - Finance Corporation SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power Asia
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
159.Sorensen Enterprises Limited IS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
160.Sual Construction Corporation SPS N/A N/A N/A CEPA Construction 100%
18/F Hong Kong Telecom Tower, Limited
Taikoo Place, 979 King's Road
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
161.Treharn Assets Limited SPS N/A N/A N/A Consolidated 100%
18/F Hong Kong Telecom Tower, Electric Power
Taikoo Place, 979 King's Road Asia Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
162.Tiaro Coal Pty Limited SPS N/A N/A N/A Allied Queensland 100%
18/F Hong Kong Telecom Tower, Coalfields Pty
Taikoo Place, 979 King's Road Limited
Quarry Bay, Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
163.Southern Electric International Finance, IS N/A N/A N/A Southern Energy, 100%
Inc. International, Inc.
1105 North Market Street
Suite 1300
Wilmington, Delaware 19899
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
164.The Southern Company - Europe, plc IS N/A N/A N/A Southern Energy, 99%
31 Curzon Street Europe, Inc.
London W1Y 7AE England Southern Energy 1%
Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
68
<PAGE>
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
165.SWEB Holdings Limited IS N/A N/A N/A SWEB Holdings U.K. 100%
800 Park Avenue
Aztec West
Almondsbury, Bristol BS12 4SE
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
165. SE Finance Capital Corporation SPS N/A N/A N/A Southern Energy, 100%
Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
166.Southern Energy Finance Company, Inc. IS N/A N/A N/A SE Finance Capital 100%
900 Ashwood Parkway, Suite 500 Corporation
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
167.EPZ Lease, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Finance Company,
Atlanta, GA 30338 Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
168.EPZ Lease, LLC IS N/A N/A N/A EPZ Lease, Inc. 99%
900 Ashwood Parkway, Suite 500 Southern Energy 1%
Atlanta, GA 30338 Finance Company,
Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
169.EPZ Lease Holding A, LLC IS N/A N/A N/A EPZ Lease,LLC 99%
900 Ashwood Parkway, Suite 500 EPZ Lease, Inc. 1%
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
170.EPZ Lease Holding B, LLC IS N/A N/A N/A EPZ Lease, LLC 99%
900 Ashwood Parkway, Suite 500 EPZ Lease, Inc. 1%
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
171.EPZ Lease Holding C, LLC IS N/A N/A N/A EPZ Lease, LLC 99%
900 Ashwood Parkway, Suite 500 EPZ Lease, Inc. 1%
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
172.EPZ Lease Trust A FUCO N/A N/A N/A EPZ Lease Holding 100%
900 Ashwood Parkway, Suite 500 A, LLC
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
173.EPZ Lease Trust B FUCO N/A N/A N/A EPZ Lease Holding 100%
900 Ashwood Parkway, Suite 500 B, LLC
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
174.EPZ Lease Trust C FUCO N/A N/A N/A EPZ Lease Holding 100%
900 Ashwood Parkway, Suite 500 C, LLC
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
175.Southern Energy E Associados IS N/A N/A N/A Southern Energy 100%
Participacoes, S.A. International, Inc.
Av. Presidente Juscelino Kubitschek 50
Conj. 172
04543-000 Sao Paulo, Brazil
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
69
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- ---------------------------- --------------------- -----------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- --------------------- -----------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
176.Cayman Energy Traders IS N/A N/A N/A Southern Energy 27.59%
P.O. Box 309 Ugland House International Inc.
South Church Street Third Party 72.41%
Grand Cayman, Cayman Islands,
British West Indies
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
177.SEI Germany - BEWAG, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 International, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
178 SEI Worldwide Holdings, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 International, Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
179. SEI Worldwide Holdings (Germany) GmbH IS N/A N/A N/A SEI Germany- BEWAG, 50%
MARKGRAFEN STRASSE 35 Inc.
10117 Berlzn, Germany SEI Worldwide 50%
Holdings, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
180.Southern Energy Holding IS N/A N/A N/A SEI Worldwide 100%
Beteiligungsgesellschaft GmbH Holdings (Germany
MARKGRAFEN STRASSE 35 GmbH)
10117 Berlzn, Germany
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
181.BEWAG FUCO N/A N/A N/A Southern Energy 26%
MARKGRAFEN STRASSE 35 Beteiligungsgsellschaft
10117 Berlzn, Germany GmbH
Third Party 74%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
182. Southern Energy Clairton, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Finance Company,
Atlanta, GA 30338 Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
183. Southern Energy Clairton, L.L.C IS N/A N/A N/A Southern Energy 85%
900 Ashwood Parkway, Suite 500 Clairton, Inc.
Atlanta, GA 30338 Southern Energy 15%
Clairton2, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
184. Clairton 1314 B Partnership, L.P. IS N/A N/A N/A Southern Energy 27%
900 Ashwood Parkway, Suite 500 Clairton, L.L.C
Atlanta, GA 30338 Domestic Corp. 73%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
185. Southern Energy Clairton2, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway, Suite 500 Finance Company,
Atlanta, GA 30338 Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
70
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- --------------------- -----------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
186.Southern Company Capital Funding, Inc. IS N/A N/A N/A Southern Energy, 100%
900 Ashwood Parkway, Suite 500 Inc.
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
187. Southern Company Capital Trust I SPS N/A N/A N/A Southern Company 100%
900 Ashwood Parkway, Suite 500 Capital
Atlanta, GA 30338 Funding, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
188. Southern Company Capital Trust II SPS N/A N/A N/A Southern Company 100%
900 Ashwood Parkway, Suite 500 Capital Funding,
Atlanta, GA 30338 Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
189. Southern Company Capital Trust III SPS N/A N/A N/A Southern Company 100%
900 Ashwood Parkway, Suite 500 Capital Funding,
Atlanta, GA 30338 Inc.
- ---------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
189b. Southern Company Capital Trust IV IS N/A N/A N/A Southern Company 100%
900 Ashwood Parkway, Suite 500 Capital Funding,
Atlanta, GA 30338 Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
189c. Southern Company Capital Trust V IS N/A N/A N/A Southern Company 100%
900 Ashwood Parkway, Suite 500 Capital Funding,
Atlanta, GA 30338 Inc.
- ---------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
190. Mobile Energy Services Holdings, Inc. IS N/A N/A N/A Southern Company 100%
900 Ashwood Parkway, Suite 500
Atlanta, GA 30338
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
191. Mobile Energy Services, L.L.C. IS N/A N/A N/A Mobile Energy 99%
900 Ashwood Parkway, Suite 500 Services Holdings,
Atlanta, GA 30338 Inc.
Southern Energy 1%
Resources, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
192. Companhia Energetica de Minas Gerais FUCO N/A N/A N/A Southern Elec. 14.4%
(CEMIG) DoBrasil
900 Ashwood Parkway, Suite 500 Participacoes,
Atlanta, GA 30338 Limitada
Foreign Govt. 24.3%
General Public 30%
Third Party 40.3%
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
193. CEPA Construction (Hong Kong) Limited IS N/A N/A N/A CEPA (Hong Kong) 100%
(Branch in the Phillippines) Construction Limited
5/F., CTC Building, 2232 Roxas Boulevard
Pasay City,Metro Manila, Phillippines
- --------------------------------------------------- ---------- -------- --------- --------- --------------------- -----------
71
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
194. CEPA Development(Mauritius) Company Limited IS N/A N/A N/A Shelf Company NA
10 Frere Felix de Valois Street, Port Louis Ownership not
Mauritius assigned
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
195. CEPA Energy Investment(Mauritius) Limited IS N/A N/A N/A Shelf Company NA
10 Frere Felix de Valois Street, Port Ownership not
Louis assigned
Mauritius
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
196. CEPA International Finance Corporation IS N/A N/A N/A Consolidated 100%
P.O. Box 71, Craigmuir Chambers, Road Town Electric Power
Tortola, British Virgina Islands Asia Limited
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
197. CEPA Project Holding(Mauritius) Limited IS N/A N/A N/A Half Crown NA
10 Frere Felix de Valois Street, Port Holdings Limited
Louis
Mauritius
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
198. CEPA Thailand (BVI) Limited IS N/A N/A N/A Tranquil Star 100%
P.O. Box 957, Corporation
Offshore Incorporations Centre
Road Town, Tortola, British Virgin Islands
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
199. China Johnston Southern, Limited IS N/A N/A N/A Shelf Company NA
10 Frere Felix de Valois Street, Port Louis Ownership not
Mauritius assigned
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
200. Consolidated Electric Power Asia(India) IS N/A N/A N/A Shelf Company NA
Private Limited Ownership not
239 A, Kharvela Nagar, Unit 111, assigned
Bhubaneswar 751 001, India
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
201. Consolidated Electric Power Asia Limited - IS N/A N/A N/A CEPA 100%
India Liaison Office
Flat Nos. 201 &208, 2nd Floor, Askoha
Estate, 24 Barakhamba Road, New
Delhi-110-001, India
- ---------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
202. Consolidated Electric Power Asia IS N/A N/A N/A CEPA Asia Limited 100%
Limited-Thailand Regional Office
Unit 2106,21F.,Two Pacific Place, 142
Sukhumvit Road, Klongtoey, Bangkok 10110,
Thailand
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
203. Johnston Southern Development Company, LLC. IS N/A N/A N/A Shelf Company
Corporation Service Company, 1013 Centre Ownership not N/A
Road, Wilmington, New Castle County, assigned
Delaware 19805
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
72
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
204. Southern Energy(Shajiao C)Limited IS N/A N/A N/A CEPA International 80%
18th Floor, Hongkong Telecom Tower, Finance Corporation
Taikoo Place, 979 King's Road, Quarry Bay,
Hong Kong
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
205. Southern Energy China, Ltd. IS N/A N/A N/A Consolidated 100%
P.O. Box 957, Offshore Incorporations Electric Power
Centre, Road Town, Tortola, British Virgin Asia Limited
Islands
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
206. Southern Energy Holdings Philippines, Inc. IS N/A N/A N/A CEPA Pagbilao 71.94%
5/F, CTC Building, 2232 Roxas Boulevard, Limited (formerly
Pasay City, Metro Manila, Philippines Hopewell Energy
Int'l Ltd.)
CEPA Mobile
Pwr.Sys.Corp 18.08
Navotas II
(Holdings(BVI)
Corp. 9.98%
CEPA Navotas I
Limited .000022%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
207. Southern Energy Project Holdings SPS N/A N/A N/A CEPA Navotas I 100%
Philippines, Inc. Limited
5/F, CTC Building, 2232 Roxas Boulevard,
Pasay city, Metro Manila, Philippines
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
208. Stenus Limited IS N/A N/A N/A CEPA International
Templar House, Don Road, St. Helier, Finance Corp.
Jersey JE4 8WH, Channel Islands 100%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
209. Tranquil Star Corporation IS N/A N/A N/A CEPA Asia Limited 100%
P.O. Box 957, Offshore Incorporations
Centre, Road Town, Tortola, British Virgin
Islands
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
210 through 215. These numbers were intentionally ommitted.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
216. CEPA Australia (BVI) Limited IS N/A N/A N/A Consolidated 100%
P.O. Box 957, Offshore Incorporations Electric Power
Centre, Road Town, Tortola, British Virgin Asia Limited
Islands
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
217. Half Crown Holdings Limited IS N/A N/A N/A Consolidated 100%
P.O. Box 957, Offshore Incorporations Electric Power
Centre, Road Town, Tortola, British Virgin Asia Limited
Islands
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
73
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
GEN TRAN DIST
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
218.CEPA Holding Australia Pty Ltd IS N/A N/A N/A CEPA Australia 100%
Level 7, 12 Moore Street, Canberra, (BVI) Limited
Australian Capital Territory
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
219. CEPA (Kogan Creek) Holding Pty Ltd IS N/A N/A N/A CEPA Holding 100%
Level 7, 12 Moore Street, Canberra, Australia Pty Ltd
Australian Capital Territory
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
220. CEPA (Kogan Creek) Leasing I Pty Ltd IS N/A N/A N/A CEPA (Kogan Creek) 100%
Level 7, 12 Moore Street, Canberra, Holding Pty Ltd
Australian Capital Territory
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
221. CEPA (Kogan Creek) Leasing II Pty Ltd IS N/A N/A N/A CEPA (Kogan Creek) 100%
Level 7, 12 Moore Street, Canberra, Holding Pty Ltd
Australian Capital Territory
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
222. CEPA (Kogan Creek) Leasing III Pty Ltd IS N/A N/A N/A CEPA (Kogan Creek) 100%
Level 7, 12 Moore Street, Canberra, Holding Pty Ltd
Australian Capital Territory
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
223. CEPA (Kogan Creek) Leasing IV Pty Ltd IS N/A N/A N/A CEPA (Kogan Creek) 100%
Level 7, 12 Moore Street, Canberra, Holding Pty Ltd
Australian Capital Territory
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
224. Bayview Beach Resort Co., Ltd. IS N/A N/A N/A Tomen Power 14.74%
1828 Sukhumvit Road, Phrakanong, (Singapore) Pte.
Bankkok, 10250, Thailand Ltd.
Fortum Power 12.13%
Holding B.V.
Union Energy 10.00%
Company Limited
Tranquil Star
Coproration 12.13%
BVR Holding Co.,
Ltd. 51.00%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
74
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
225. BVR Holding Company Limited IS N/A N/A N/A Tomen Power 37.77%
1828 Sukhumvit Road, Kwaeng Bangjak, Khet (Singapore) Pte.
Phrakanong, Ltd.
Bangkok Metropolis, Thailand Fortum Power 31.11%
Holding B.V.
Tranquil Star
Coproration 31.11%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
226. Southern Energy New England Investments, IS N/A N/A N/A Southern Energy 100%
Inc. North America
900 Ashwood Parkway, Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
227. SEI New England (G.P.), Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
228. SEI New England, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
229.Southern Energy Canal, L.L.C. EWG N/A N/A N/A Southern Energy 99%
9 Freezer Road New England
P.O. Box 840 Investments, Inc.
Sandwich, MA 02563 Southern Energy
New England (G.P.) 1%
Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
230. Southern Energy Kendall, L.L.C. EWG N/A N/A N/A Southern Energy 99%
265 First Street New England
Cambridge, MA 02142 Investments, Inc.
Southern Energy
New England (G.P.) 1%
Inc.
231. Southern Energy Canal III, L.L.C. SPS N/A N/A N/A Southern Energy 99%
9 Freezer Road New England
P.O. Box 840 Investments, Inc.
Sandwich, MA 02563 Southern Energy
New England 1%
(G.P.), Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
232. SE China Investments, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway International, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
75
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
233.SEI Wisconsin Holdings, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
234. SEI Wisconsin, L.L.C. EWG N/A N/A N/A SEI Wisconsin 100%
900 Ashwood Parkway Holding, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
235. Southern Energy Texas (G.P.),Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
236. Southern Energy Southwest Investments, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
237. Southern Energy Central Texas, L.P. SPS N/A N/A N/A Southern Energy 99%
900 Ashwood Parkway Southwest
Suite 500 Investments, Inc.
Atlanta, GA 30338-4780 Southern Energy
Texas (G.P.) Inc. 1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
238. SEI Texas, L.P. EWG N/A N/A N/A Southern Energy 99%
900 Ashwood Parkway Southwest
Suite 500 Investments, Inc.
Atlanta, GA 30338-4780 Southern Energy
Texas (G.P.), Inc. 1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
239. Southern Energy Wichita Falls, L.P. SPS N/A N/A N/A Southern Energy 99%
900 Ashwood Parkway Southwest
Suite 500 Investments, Inc.
Atlanta, GA 30338-4780 Southern Energy
Tx(G.P.)Inc 1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
240. Southern Energy New York, G.P.Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
241. Southern Energy Hudson Valley Investments, IS N/A N/A N/A Southern Energy 100%
Ltd. North America
900 Ashwood Parkway Generating, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
76
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
242. Southern Energy Bowline, L.L.C. SPS N/A N/A N/A Southern Energy 99%
900 Ashwood Parkway Hudson Valley
Suite 500 Investments, Inc.
Atlanta, GA 30338-4780 Southern Energy
New York, G.P.,Inc.
1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
243. Southern Energy Lovett, L.L.C. SPS N/A N/A N/A Southern Energy 99%
900 Ashwood Parkway Hudson Valley
Suite 500 Investments, Inc.
Atlanta, GA 30338-4780 Southern Energy
New York ,G.P.Inc.
1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
244. Southern Energy NY-Gen, L.L.C. SPS N/A N/A N/A Southern Energy 99%
900 Ashwood Parkway Hudson Valley
Suite 500 Investments, Inc.
Atlanta, GA 30338-4780 Southern Energy
New York ,G.P.Inc.
1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
245. Southern Energy Bay Area Investments, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
246. Southern Energy Golden States Holding Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America
Suite 500 Generating, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
247. Southern Energy California, L.L.C. EWG N/A N/A N/A Southern Energy 50%
900 Ashwood Parkway Bay Area
Suite 500 Investments
Atlanta, GA 30338-4780 Southern Energy 50%
Golden State
Holdings, Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
248. Southern Energy Delta, L.L.C. EWG N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway California, L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
249. Southern Energy Potrero, L.L.C. EWG N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway California, L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
77
<PAGE>
250. Gasoducto Nor Andino Argentina, S.A. IS N/A N/A N/A Tractebel 66.67%
Apoquindo 3721 Energia del 33.33%
Oficina 114 Limitada
Edificio "Torre Las Condes"
Las Condes, Chile
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
251. Gasoducto Nor Andino, S.A IS N/A N/A N/A Tractebel 66.67%
Apoquindo 3721 Energia del 33.33%
Oficina 114 Limitada
Edificio "Torre Las Condes"
Las Condes, Chile
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
252. Southern Energy Carbontronics, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwod Parkway Finance Company,
Suite 500 Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
253. Southern Energy Carbontronics, IS N/A N/A N/A Southern Energy 99%
L.L.C. 900 Ashwod Parkway Carbontronics, Inc.
Suite 500 Southern Energy
Atlanta, GA 30338-4780 Finance 1%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
254. Carbontronics Synfuels Investors, L.P.(Rule IS N/A N/A N/A Domestic 75.25%
58 Energy-Related Company) Corporations
900 Ashwod Parkway Southern Energy 24.75%
Suite 500 Clairton, L.L.C.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
255. Dutch Gas Lease, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway Finance Company,
Suite 500 Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
256. Dutch Gas Lease, LLC IS N/A N/A N/A Dutch Gas Lease, 99%
900 Ashwood Parkway Inc.
Suite 500 Southern Energy 1%
Atlanta, GA 30338-4780 Finance
Company.,Inc
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
256a. Shandong International Power IS N/A N/A N/A SE China 37%
Development Company Limited Investments, Inc.
Other 63%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
78
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
GEN TRAN DIST
-------- --------- ---------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
257. Dutch Gas Lease Holding A, L.L.C. IS N/A N/A N/A Dutch Gas Lease, 100%
900 Ashwood Parkway L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
258. Dutch Gas Lease Trust A FUCO N/A N/A N/A Dutch Gas Lease 100%
900 Ashwood Parkway Holding A, L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
259. Dutch Gas Lease Holding B, L.L.C. IS N/A N/A N/A Dutch Gas Lease, 100%
900 Ashwood Parkway L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
260. Dutch Gas Lease Trust B FUCO N/A N/A N/A Dutch Gas Lease 100%
900 Ashwood Parkway Holding
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
261. Dutch Gas Lease Holding C, L.L.C. IS N/A N/A N/A Dutch Gas Lease, 100%
900 Ashwood Parkway L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
262. Dutch Gas Lease Trust C FUCO N/A N/A N/A Dutch Gas Lease 100%
900 Ashwood Parkway Holding C, L.L.C.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
263. Southern Energy Development IS N/A N/A N/A SEZ Worldwide 100%
Europa GMBH Holdings GMBH
MARKGRAFENSTRASSE 35
10117 Berlzn, Germany
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
264. Southern Energy ASIA Ventures, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway ASIA Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
265. SWEB Holdings UK IS N/A N/A N/A Southern Electric 49%
31 Curzon Street International
London W1Y 7AE England Europe Inc.
Domestic Corp 51%
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
79
<PAGE>
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
COMPANY, LOCATION AND ADDRESS FUCO, GENERATION, OWNERSHIP % OWNED
-
EWG, TRANSMISSION,
IS DISTRIBUTION
- --------------------------------------------------- ---------- ---------------------------- -------------------- ------------
GEN TRAN DIST
-------- --------- ---------
266. Mobile Development Company SPS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway North America Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
267. Southern Energy Caribe, Ltd. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway International, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
268. Southern Energy Europe, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway International, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
269. SEI Brazil Holdings, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway International, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
270. SEI South America, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashwood Parkway International, Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
271. SEI Gamog Lease, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashford Parkway Finance Company,
Suite 500 Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
272. SEI Gamog Lease Holding A, LLC IS N/A N/A N/A SEI Gamog Lease, 100%
900 Ashford Parkway Inc.
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
273. SEI Gamog Lease Trust A FUCO N/A N/A N/A SEI Gamog Lease 100%
900 Ashford Parkway Holding A, LLC
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
274. SEI Gamog Lease Holding B, LLC IS N/A N/A N/A SEI Gamog Lease, 100%
900 Ashford Parkway Inc.
Suite 500 .
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
275. SEI Gamog Lease Trust B FUCO N/A N/A N/A SEI Gamog Lease 100%
900 Ashford Parkway Holding B, LLC
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
80
<PAGE>
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
276. SEI Gamog Lease Holding C, LLC IS N/A N/A N/A SEI Gamog Lease, 100%
900 Ashford Parkway Inc.
Suite 500 Southern Energy
Atlanta, GA 30338-4780 Finance Company,
Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
277. SEI Gamog Lease Trust C FUCO N/A N/A N/A SEI Gamog Lease 100%
900 Ashford Parkway Holding C, LLC
Suite 500 SEI Gamog Lease,
Atlanta, GA 30338-4780 Inc.
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
278. Nuon Lease, Inc. IS N/A N/A N/A Southern Energy 100%
900 Ashford Parkway Finance Company,
Suite 500 Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
279. Nuon Lease Holding D, LLC IS N/A N/A N/A Nuon Lease, Inc. 100%
900 Ashford Parkway
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
280. Nuon Lease Trust D FUCO N/A N/A N/A Nuon Lease Holding 100%
900 Ashford Parkway D, LLC
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
281. Nuon Lease Holding E, LLC IS N/A N/A N/A Nuon Lease, Inc. 100%
900 Ashford Parkway
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
282. Nuon Lease Trust E FUCO N/A N/A N/A Nuon Lease Holding `00%
900 Ashford Parkway E, LLC
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
283. Nuon Lease Holding F, LLC IS N/A N/A N/A Nuon Lease, Inc. 100%
900 Ashford Parkway
Suite 500
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
284. Nuon Lease Trust F FUCO N/A N/A N/A Nuon Lease Holding 100%
900 Ashford Parkway F, LLC
Suite 500 Nuon Lease, Inc.
Atlanta, GA 30338-4780
- --------------------------------------------------- ---------- -------- --------- --------- -------------------- ------------
81
</TABLE>
<PAGE>
Note 1 - Generating Facilities:
Through special purpose subsidiaries, SOUTHERN owns interests in or operates
independent power production facilities and foreign utility companies. The
generating capacity of these utilities (or facilities) at December 31, 1999, was
as follows:
<PAGE>
Facilities in Operation
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
Megawatts of Capacity Percent
Facility Location Units Owned Operated Ownership Type
-------------------- --------------------------- --------- ------------ ---------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Alicura Argentina 4 551 (1) 1,000 55.14 (1) Hydro
BEWAG Germany 15 428 - 26.00 Coal
BEWAG Germany 14 340 - 26.00 Oil & Gas
Birchwood Virginia 1 111 222 50.00 Coal (2)
CEPA China 3 634 - 32.00 Coal
CEPA Philippines 2 641 735 87.22 Coal
CEPA Philippines 3 189 210 90.10 Oil
CEPA China 16 443 - 9.99 Coal
CEPA Philippines 2 1,119 1,218 91.90 Coal
CEPA Philippines 1 100 100 100.00 Oil
CEPA Philippines 4 15 15 100.00 Diesel
CEMIG Brazil 34 194 - 3.60 Hydro
CEMIG Brazil 2 5 - 3.60 Thermal
CEMIG Brazil 1 - - 3.60 Wind
Edelnor Chile 2 281 341 82.34 Coal
Edelnor Chile 37 103 125 82.34 Diesel & Hydro
Freeport Grand Bahamas 8 79 126 62.50 Oil
Penal Trinidad and Tobago 5 92 236 39.00 Gas
Port of Spain Trinidad and Tobago 6 120 308 39.00 Gas
Pt. Lisas Trinidad and Tobago 10 247 634 39.00 Gas
State Line Indiana 2 490 490 100.00 Coal
SE California California 13 3,065 3,065 100.00 Oil & Gas
SE New York New York 16 1,794 1,794 100.00 Oil, Gas, Coal &
Hydro
SE New England Maine and Massachusetts 8 1,245 1,236 100.00 Oil & Gas
SEI Wichita Falls Texas 4 80 80 100.00 Gas
WPD United Kingdom 10 71 - 3.77 Gas
(3)
WPD United Kingdom 8 6 12 49.00 Oil & Gas
WPD United Kingdom 2 3 - 22.00 Wind
WPD United Kingdom 2 - 2 - Oil
-------------------------------------------------------------------------------------------------------------------------------
Total Capacity 12,446 11,949
===============================================================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
82
<PAGE>
Notes: (1) Represents megawatts of capacity under a concession agreement
expiring in the year 2023.
In early 2000, Southern Energy announced an agreement to sell
Alicura, its Argentinean assets, substantially at the
adjusted carrying value with no material gain or loss expected
to be recognized in 2000.
(2) Cogeneration facility.
<PAGE>
<TABLE>
<CAPTION>
Facilities Under Construction
---------------------------------------------------------------------------------------------------------------------
Megawatts of Capacity Percent
Facility Location Units ------------------------- Ownership Type
Own Operate
<S> <C> <C> <C> <C> <C> <C>
SEI Wisconsin Wisconsin 2 306 306 100.00 Gas
SEI Texas Texas 3 550 550 100.00 Gas
Edelnor Chile 1 206 250 82.34 Gas
---------------------------------------------------------------------------------------------------------------------
Total Capacity 1,062 1,106
=====================================================================================================================
</TABLE>
Note 2 - Transmission Facilities:
Edelnor (Chile) - approximately 1068 kilometers as follows:
Operating Voltage Approximate Kilometers
(kVs)
23 17
66 197
110 388
220 466
------
1068
Freeport (Grand Bahamas) - approximately 50 miles of 69 kV
transmission lines.
Note 3 - Distribution Facilities:
Freeport (Grand Bahamas) - 420 Miles
of 7.2 KV Overhead 18 miles
of 7.2 KV Underground 205
miles of 12.5 KV Overhead 20
miles of 12.5 KV Underground
South West Electricity (United Kingdom) - approximately 48,054
kilometers as follows:
Operating Voltage Approximate Kilometers
(kVs)
Under 5 18,943
6.6 148
11 23,668
33 3,794
132 1,523
-----
48,076
South Western Electricity's distribution system for the Isles of Scilly includes
57 kilometers of 33 kV submarine cable, which connects the islands to the
mainland, and 15 kilometers of 11 kV submarine cable which interconnects the
individual islands.
Note 4 - Notes to Item 9 - Part I(a):
Electricity Pensions Limited and South West Enterprise Limited are both
subsidiaries of South Western Electricity, plc that show 0% ownership due to
both companies being limited by a guarantee. Electricity Pensions Limited was
created to coordinate the administration of the Electricity Supply Pension
Scheme. South West Enterprise Limited was created to catalyze, coordinate, and
promote economic development in Devon and Cornwall.
83
<PAGE>
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
PART I(b); PART I(c) and PART I(d) are being filed pursuant to Rule 104.
PART II
Exhibits H and I submitted with this filing, are being incorporated by
reference.
PART III is being filed pursuant to Rule 104.
84
<PAGE>
<TABLE>
<CAPTION>
ITEM 10 - FINANCIAL STATEMENTS AND EXHIBITS
SOUTHERN AND SUBSIDIARY COMPANIES
INDEX TO FINANCIAL STATEMENTS
DECEMBER 31, 1999
Page
Number
<S> <C>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS A-1
FINANCIAL STATEMENTS:
Consolidating Statement of Income for the Year Ended
December 31, 1999 A-2
Consolidating Statement of Cash Flows for the Year Ended
December 31, 1999 A-4
Consolidating Balance Sheet at December 31, 1999 A-6
Consolidating Statement of Capitalization at December 31, 1999 A-10
Consolidating Statement of Retained Earnings for the Year Ended
December 31, 1999 A-14
Consolidating Statement of Paid-in Capital for the Year
Ended December 31, 1999 A-15
Notes to Financial Statements at December 31, 1999 A-16
OTHER FINANCIAL STATEMENTS:
ALABAMA consolidated with ALABAMA TRUST I, ALABAMA TRUST II and ALABAMA TRUST III A-17
Alabama Property Company (Unaudited; Not consolidated in Parent, ALABAMA) A-22
GEORGIA consolidated with PIEDMONT, GEORGIA CAPITAL, GEORGIA TRUST I,
GEORGIA TRUST II, GEORGIA TRUST III and GEORGIA TRUST IV A-24
GULF consolidated with GULF TRUST I and GULF TRUST II A-29
MISSISSIPPI consolidated with MISSISSIPPI TRUST I A-33
SAVANNAH consolidated with SAVANNAH ELECTRIC TRUST I A-37
EXHIBITS A-41
SCHEDULES:
Schedules supporting financial statements of ALABAMA, GEORGIA, GULF,
MISSISSIPPI, SAVANNAH and SEGCO are incorporated by reference to those
companies' annual reports on Federal Energy Regulatory Commission Form 1 for the
year ended December 31, 1999, as filed with the Federal Energy Regulatory
Commission.
A
</TABLE>
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To The Southern Company:
We have audited the consolidated balance sheet and
consolidated statement of capitalization of THE SOUTHERN COMPANY (a
Delaware corporation) and subsidiary companies as of December 31, 1999,
and the related consolidated statements of income, comprehensive
income, retained earnings, paid-in capital, accumulated other
comprehensive income, and cash flows for the year then ended (included
in the 1999 annual report on Form 10-K, which is Exhibit A-1 to this
Form U5S). These financial statements are the responsibility of the
company's management. Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit in accordance with auditing standards
generally accepted in the United States. Those standards require that
we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above
present fairly, in all material respects, the financial position of The
Southern Company and subsidiary companies as of December 31, 1999, and
the results of their operations and their cash flows for the year then
ended, in conformity with accounting principles generally accepted in
the United States.
/s/ Arthur Andersen LLP
Atlanta, Georgia
February 16, 2000
A-1
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Intercompany
Eliminations
and Transfers
Consolidated Add (Deduct) Southern Alabama
Operating Revenues:
<S> <C> <C> <C> <C>
Retail sales $8,085,664 $ - $ - $ 2,811,117
Southern Energy revenues 2,267,744 - - -
Sales for resale --
Non-affiliates 822,234 - - 415,377
Affiliates - (459,710) - 92,439
Other revenues 409,349 (17,321) - 66,541
Southern, equity in earnings of subsidiary companies - (1,422,449) 1,422,449 -
--------------------------------------------------------------------------------------------------------------------------------
Total operating revenues 11,584,991 (1,899,480) 1,422,449 3,385,474
--------------------------------------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel 2,720,326 - - 855,632
Purchased power --
Non-affiliates 953,741 (14) - 93,204
Affiliates - (430,660) - 180,563
Other 2,199,349 (39,857) 41,872 531,696
Maintenance 944,616 - - 277,724
Depreciation and amortization 1,307,127 51,196 - 347,574
Taxes other than income taxes 611,894 - 146 204,645
Write down of assets 68,999 (58,561) 67,878 -
--------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 8,806,052 (477,896) 109,896 2,491,038
--------------------------------------------------------------------------------------------------------------------------------
Operating Income 2,778,939 (1,421,584) 1,312,553 894,436
Other Income (Expense):
Interest income 164,159 (118,883) 44,887 55,896
Gain on asset sales 315,092 - - -
Equity in earnings of unconsolidated subsidiaries 94,480 (21,179) - 2,650
Other, net 94,087 28,463 2,703 (24,861)
--------------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 3,446,757 (1,533,183) 1,360,143 928,121
--------------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 697,747 (99,371) 75,125 191,895
Interest on notes payable 183,321 - 58,099 9,865
Amortization of debt discount, premium and expense, net 124,835 - - 11,159
Other interest charges 53,277 1 1,350 32,316
Minority interests in subsidiaries 182,764 - - -
Distributions on preferred securities of subsidiary 182,325 - - 24,662
--------------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 1,424,269 (99,370) 134,574 269,897
--------------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 2,022,488 (1,433,813) 1,225,569 658,224
Income taxes 726,397 (15,133) (50,099) 241,880
--------------------------------------------------------------------------------------------------------------------------------
Net Income From Continuing Operations 1,296,091 (1,418,680) 1,275,668 416,344
--------------------------------------------------------------------------------------------------------------------------------
Income From Discontinued Operations - 5,397 - -
Tax Impact - 14,950 - -
--------------------------------------------------------------------------------------------------------------------------------
Net Income From Discontinued Operations - (9,553) - -
--------------------------------------------------------------------------------------------------------------------------------
Net Income 1,296,091 (1,428,233) 1,275,668 416,344
--------------------------------------------------------------------------------------------------------------------------------
Dividends on Preferred Stock 20,423 - - 16,464
--------------------------------------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $1,275,668 $ (1,428,233) $ 1,275,668 $ 399,880
================================================================================================================================
Average number of shares of common stock outstanding 685,163
Basic and diluted earnings per share of common stock $1.86
Cash dividends paid per share of common stock $1.34
(Continued on following page)
</TABLE>
A-2a
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Georgia Gulf Mississippi Savannah
Operating Revenues:
<S> <C> <C> <C> <C>
Retail sales $ 4,050,088 $ 512,760 $ 469,434 $ 242,265
Southern Energy revenues - - - -
Sales for resale --
Non-affiliates 210,104 62,354 131,004 3,395
Affiliates 76,426 66,110 19,446 4,151
Other revenues 120,057 32,875 13,120 1,783
Southern, equity in earnings of subsidiary companies - - - -
------------------------------------------------------------------------------------------------------------------------
Total operating revenues 4,456,675 674,099 633,004 251,594
------------------------------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel 919,876 209,031 172,686 50,530
Purchased power --
Non-affiliates 214,573 46,332 40,080 14,398
Affiliates 174,989 10,703 31,007 33,398
Other 784,359 114,670 125,291 50,341
Maintenance 411,983 57,830 47,085 16,333
Depreciation and amortization 467,966 64,589 49,206 23,841
Taxes other than income taxes 202,853 51,782 47,893 12,690
Write down of assets - - - -
------------------------------------------------------------------------------------------------------------------------
Total operating expenses 3,176,599 554,937 513,248 201,531
------------------------------------------------------------------------------------------------------------------------
Operating Income 1,280,076 119,162 119,756 50,063
Other Income (Expense):
Interest income 5,583 1,771 273 169
Gain on asset sales - - - -
Equity in earnings of unconsolidated subsidiaries 2,721 - - -
Other, net (47,986) (1,357) 1,675 (663)
------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 1,240,394 119,576 121,704 49,569
------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 162,303 21,375 20,455 9,300
Interest on notes payable 19,787 2,371 2,750 879
Amortization of debt discount, premium and expense, ne 100,115 1,989 1,432 948
Other interest charges (2,336) 1,126 3,332 811
Minority interests in subsidiaries - - - -
Distributions on preferred securities of subsidiary 65,774 6,200 2,796 2,740
------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 345,643 33,061 30,765 14,678
------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 894,751 86,515 90,939 34,891
Income taxes 351,639 32,631 34,117 11,808
------------------------------------------------------------------------------------------------------------------------
Net Income From Continuing Operations 543,112 53,884 56,822 23,083
------------------------------------------------------------------------------------------------------------------------
Income From Discontinued Operations - - - -
Tax Impact - - - -
------------------------------------------------------------------------------------------------------------------------
Net Income From Discontinued Operations - - - -
------------------------------------------------------------------------------------------------------------------------
Net Income 543,112 53,884 56,822 23,083
------------------------------------------------------------------------------------------------------------------------
Dividends on Preferred Stock 1,729 217 2,013 -
------------------------------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $ 541,383 $ 53,667 $ 54,809 $ 23,083
========================================================================================================================
(Continued on following page)
</TABLE>
A-2b
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Southern Energy Southern
SEGCO Energy Solutions LINC
Operating Revenues:
<S> <C> <C> <C> <C>
Retail sales $ - $ - $ - $ -
Southern Energy revenues - 2,267,744 - -
Sales for resale --
Non-affiliates - - - -
Affiliates 171,337 - 17,896 11,895
Other revenues 1,522 - 69,936 102,451
Southern, equity in earnings of subsidiary companies - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Total operating revenues 172,859 2,267,744 87,832 114,346
- ------------------------------------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel 120,669 391,902 - -
Purchased power --
Non-affiliates - 545,168 - -
Affiliates - - - -
Other 14,441 352,203 92,455 109,724
Maintenance 15,824 116,100 28 1,709
Depreciation and amortization 8,268 270,876 851 22,214
Taxes other than income taxes 1,012 88,811 168 1,773
Write down of assets - 59,682 - -
- ------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 160,214 1,824,742 93,502 135,420
- ------------------------------------------------------------------------------------------------------------------------------
Operating Income 12,645 443,002 (5,670) (21,074)
Other Income (Expense):
Interest income - 173,828 116 66
Gain on asset sales - 312,850 592 1,650
Equity in earnings of unconsolidated subsidiaries - 110,288 - -
Other, net 7 136,107 1 -
- ------------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 12,652 1,176,075 (4,961) (19,358)
- ------------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 4,145 307,358 - 5,162
Interest on notes payable - 89,570 - -
Amortization of debt discount, premium and expense, net 23 9,169 - -
Other interest charges - 16,463 214 -
Minority interests in subsidiaries - 182,764 - -
Distributions on preferred securities of subsidiary - 80,153 - -
- ------------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 4,168 685,477 214 5,162
- ------------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 8,484 490,598 (5,175) (24,520)
Income taxes 3,042 128,485 (1,812) (8,682)
- ------------------------------------------------------------------------------------------------------------------------------
Net Income From Continuing Operations 5,442 362,113 (3,363) (15,838)
- ------------------------------------------------------------------------------------------------------------------------------
Income From Discontinued Operations - (5,397) - -
Tax Impact - (14,950) - -
- ------------------------------------------------------------------------------------------------------------------------------
Net Income From Discontinued Operations - 9,553 - -
- ------------------------------------------------------------------------------------------------------------------------------
Net Income 5,442 371,666 (3,363) (15,838)
- ------------------------------------------------------------------------------------------------------------------------------
Dividends on Preferred Stock - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $ 5,442 $ 371,666 $ (3,363) $ (15,838)
=============================================================================================================================
(Continued on following page)
The notes to the financial statements (herein incorporated by reference as part of exhibit numbers A-1 through A-6
inclusive) are an integral part of this statement.
</TABLE>
A-3a
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Southern
Powercall Telecom
Operating Revenues:
<S> <C> <C>
Retail sales $ - $ -
Southern Energy revenues - -
Sales for resale --
Non-affiliates - -
Affiliates 10 -
Other revenues 12,076 6,309
Southern, equity in earnings of subsidiary companies - -
- ------------------------------------------------------------------------------------------------------------------
Total operating revenues 12,086 6,309
- ------------------------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel - -
Purchased power --
Non-affiliates - -
Affiliates - -
Other 18,834 3,320
Maintenance - -
Depreciation and amortization 495 51
Taxes other than income taxes 44 77
Write down of assets - -
- ------------------------------------------------------------------------------------------------------------------
Total operating expenses 19,373 3,448
- ------------------------------------------------------------------------------------------------------------------
Operating Income (7,287) 2,861
Other Income (Expense):
Interest income 4 449
Gain on asset sales - -
Equity in earnings of unconsolidated subsidiaries - -
Other, net (2) -
- ------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes (7,285) 3,310
- ------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt - -
Interest on notes payable - -
Amortization of debt discount, premium and expense, net - -
Other interest charges - -
Minority interests in subsidiaries - -
Distributions on preferred securities of subsidiary - -
- ------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net - -
- ------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes (7,285) 3,310
Income taxes (2,565) 1,086
- ------------------------------------------------------------------------------------------------------------------
Net Income From Continuing Operations (4,720) 2,224
- ------------------------------------------------------------------------------------------------------------------
Income From Discontinued Operations - -
Tax Impact - -
- ------------------------------------------------------------------------------------------------------------------
Net Income From Discontinued Operations - -
- ------------------------------------------------------------------------------------------------------------------
Net Income (4,720) 2,224
- ------------------------------------------------------------------------------------------------------------------
Dividends on Preferred Stock - -
- ------------------------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $ (4,720) $ 2,224
==================================================================================================================
The notes to the financial statements (herein incorporated by reference as part of exhibit numbers A-1 through A-6
inclusive) are an integral part of this statement.
</TABLE>
A-3b
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Intercompany
Eliminations
and Transfers
Consolidated Add (Deduct) Southern Alabama
Operating Activities:
<S> <C> <C> <C> <C>
Net income $ 1,275,668 (1,448,656) $ 1,275,668 $ 416,344
Adjustments to reconcile net income
to net cash provided from operating activities --
Depreciation and amortization 1,522,029 51,196 - 403,332
Deferred income taxes and investment tax credits, net 137,053 (6,797) - 29,039
Other, net (166,975) 162,627 (146,739) (12,661)
Changes in certain current assets and liabilities -- -
Receivables, net (224,590) (1,017,914) 941,868 33,509
Fossil fuel stock (25,802) - - (1,344)
Materials and supplies (50,093) (3,594) - (17,968)
Accounts payable (146,830) (76) 34,462 (38,556)
Energy cost recovery, retail - 124,731 - (97,869)
Other 403,491 74,533 21,792 5,930
- --------------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities 2,723,951 (2,063,950) 2,127,051 719,756
- --------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (2,559,966) 51,380 - (809,044)
Other (1,654,198) 798,185 (812,786) (72,218)
- --------------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities (4,214,164) 849,565 (812,786) (881,262)
- --------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net 2,131,498 (17,252) 336,410 96,824
Proceeds --
Other long-term debt 2,646,708 (63,140) - 751,650
Preferred securities 250,000 - - 50,000
Capital contributions - (776,919) 4,659 204,347
Common stock 23,838 - 23,838 -
Redemptions --
First mortgage bonds (889,800) - - (470,000)
Other long-term debt (956,776) 951,230 - (104,836)
Preferred securities (100,000) - - -
Preferred stock (86,231) - - (50,000)
Common stock repurchased (862,090) (862,090) -
Payment of preferred stock dividends - 19,056 - (15,788)
Payment of common stock dividends (921,484) 1,320,996 (921,484) (399,600)
Other (150,387) (227,377) (578) (15,864)
- --------------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) financing activities 1,085,276 1,206,594 (1,419,245) 46,733
- --------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents (404,937) (7,791) (104,980) (114,773)
Cash and Cash Equivalents at Beginning of Period 871,353 7,791 132,400 134,248
- --------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 466,416 $ - $ 27,420 $ 19,475
================================================================================================================================
Supplemental Cash Flow Information:
Cash paid during the period for --
Interest (net of amount capitalized) $1,010,768 $ (81,261) $ 112,310 $ 229,305
Income taxes 641,612 - - 170,121
- --------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(Continued on the following page)
A-4a
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Georgia Gulf Mississippi Savannah
Operating Activities:
<S> <C> <C> <C> <C>
Net income $ 543,112 $ 53,884 $ 56,822 $ 23,083
Adjustments to reconcile net income
to net cash provided from operating activities --
Depreciation and amortization 578,878 68,721 53,427 25,454
Deferred income taxes and investment tax credits, net (34,930) (6,609) (4,143) (3,353)
Other, net 42,821 3,735 5,531 (47)
Changes in certain current assets and liabilities --
Receivables, net 21,665 (10,484) (39,304) (5,999)
Fossil fuel stock (22,165) (5,656) (9,379) (2,125)
Materials and supplies (10,417) (2,063) (1,903) (1,906)
Accounts payable 13,095 (2,023) 1,391 1,133
Energy cost recovery, retail (26,862) - - -
Other 90,788 7,030 14,206 1,731
- -----------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities 1,195,985 106,535 76,648 37,971
- -----------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (790,464) (69,798) (75,888) (29,833)
Other (27,454) (8,856) 1,009 (1,715)
- -----------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities (817,918) (78,654) (74,879) (31,548)
- -----------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net 295,389 23,500 44,500 34,300
Proceeds --
Other long-term debt 338,000 50,000 59,400 -
Preferred securities 200,000 - - -
Capital contributions 155,777 2,294 2,028 1,099
Common stock - - - -
Redemptions --
First mortgage bonds (404,000) - - (15,800)
Other long-term debt (235,000) (27,074) (50,456) (481)
Preferred securities (100,000) - - -
Preferred stock (36,231) - - -
Common stock repurchased - - - -
Payment of preferred stock dividends (984) (271) (2,013) -
Payment of common stock dividends (543,000) (61,300) (56,100) (25,200)
Other (29,630) (246) (282) 250
- -----------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) financing activities (359,679) (13,097) (2,923) (5,832)
- -----------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents 18,388 14,784 (1,154) 591
Cash and Cash Equivalents at Beginning of Period 16,272 969 1,327 5,962
- -----------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 34,660 $ 15,753 $ 173 $ 6,553
=============================================================================================================================
Supplemental Cash Flow Information:
Cash paid during the period for --
Interest (net of amount capitalized) $ 247,050 $ 27,670 $ 25,486 $ 14,212
Income taxes 394,457 29,462 39,729 12,647
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
(Continued on the following page)
A-4b
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Southern Southern
SEGCO SCS Nuclear Energy
Operating Activities:
<S> <C> <C> <C> <C>
Net income $ 5,442 $ - $ - $ 371,666
Adjustments to reconcile net income
to net cash provided from operating activities --
Depreciation and amortization 8,911 21,911 708 285,880
Deferred income taxes and investment tax credits, net 567 - - 165,925
Other, net 1 32,485 5,583 (262,961)
Changes in certain current assets and liabilities --
Receivables, net 566 26,743 (9,371) (133,405)
Fossil fuel stock - - - 14,867
Materials and supplies - (231) - (9,359)
Accounts payable 1,443 (60,458) 1,251 (81,322)
Energy cost recovery, retail - - - -
Other (790) 8,596 (1,211) 157,789
- --------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) operating activities 16,140 29,046 (3,040) 509,080
- --------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (13,759) (65,147) (162) (730,127)
Other 222 418 285 (1,532,847)
- --------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) investing activities (13,537) (64,729) 123 (2,262,974)
- --------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net - 17,000 - 1,300,575
Proceeds --
Other long-term debt 1,854 53,600 - 1,416,753
Preferred securities - - - -
Capital contributions 198 - 903 360,883
Common stock - - - -
Redemptions --
First mortgage bonds - - - -
Other long-term debt - (36,021) - (1,453,965)
Preferred securities - - - -
Preferred stock - - - -
Common stock repurchased - - - -
Payment of preferred stock dividends - - - -
Payment of common stock dividends (4,312) - - (231,484)
Other - - - 123,340
- --------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) financing activities (2,260) 34,579 903 1,516,102
- --------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents 343 (1,104) (2,014) (237,792)
Cash and Cash Equivalents at Beginning of Period 300 1,104 3,645 560,701
- --------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 643 $ - $ 1,631 $ 322,909
==========================================================================================================================
Supplemental Cash Flow Information:
Cash paid during the period for --
Interest (net of amount capitalized) $ 7,271 $ 6,224 $ 263 $ 418,776
Income taxes 3,679 - 5,695 (14,178)
- --------------------------------------------------------------------------------------------------------------------------
The notes to the financial statements (herein incorporated by reference as part
of exhibit numbers A-1 through A-6 inclusive) are an integral part of this
statement.
</TABLE>
A-5a
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Energy Southern Southern
Solutions LINC Powercall Telecom SERC
Operating Activities:
<S> <C> <C> <C> <C> <C>
Net income $ (3,363) $ (15,838) $ (4,720) $ 2,224 $ -
Adjustments to reconcile net income
to net cash provided from operating activities --
Depreciation and amortization 851 22,214 495 51 -
Deferred income taxes and investment tax credits, net 1,271 (3,916) - (1) -
Other, net 13,824 2,362 (5,653) (7,883) -
Changes in certain current assets and liabilities --
Receivables, net (24,921) (6,547) (4,687) 3,740 (49)
Fossil fuel stock - - - - -
Materials and supplies (693) (1,878) (81) - -
Accounts payable (8,085) (7,678) (1,056) (458) 107
Energy cost recovery, retail - - - - -
Other 2,661 772 30 19,634 -
- ----------------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) operating activities (18,455) (10,509) (15,672) 17,307 58
- ----------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (4,175) (21,388) - (1,561) -
Other (1) - 660 900 -
- ----------------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) investing activities (4,176) (21,388) 660 (661) -
- ----------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net 252 - - - -
Proceeds --
Other long-term debt - 38,591 - - -
Preferred securities - - - - -
Capital contributions 31,065 13 16,399 (2,746) -
Common stock - - - - -
Redemptions --
First mortgage bonds - - - - -
Other long-term debt (173) - - - -
Preferred securities - - - - -
Preferred stock - - - - -
Common stock repurchased - - - - -
Payment of preferred stock dividends - - - - -
Payment of common stock dividends - - - - -
Other - - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) financing activities 31,144 38,604 16,399 (2,746) -
- ----------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents 8,513 6,707 1,387 13,900 58
Cash and Cash Equivalents at Beginning of Period 2,085 477 213 3,773 86
- ----------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 10,598 $ 7,184 $ 1,600 $ 17,673 $ 144
==================================================================================================================================
Supplemental Cash Flow Information:
Cash paid during the period for --
Interest (net of amount capitalized) $ - $ 3,462 $ - $ - $ -
Income taxes - - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
The notes to the financial statements (herein incorporated by reference as part
of exhibit numbers A-1 through A-6 inclusive) are an integral part of this
statement.
</TABLE>
A-5b
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Intercompany
Eliminations
and Transfers
ASSETS Consolidated Add (Deduct) Southern Alabama
Current Assets:
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 466,416 $ - $ 27,420 $ 19,475
Receivables --
Customer accounts receivable 1,326,796 - - 434,527
Other accounts and notes receivable 699,948 2,583 656 42,137
Affiliated companies 282 (494,484) 107,191 40,083
Accumulated provision for uncollectible accounts (58,910) - - (4,117)
Refundable income taxes - (119,491) - 17,997
Fossil fuel stock, at average cost 310,635 - - 84,582
Materials and supplies, at average cost 585,080 - - 167,637
Other 198,822 (14,090) 296 46,011
- -----------------------------------------------------------------------------------------------------------------------------------
Total current assets 3,529,069 (625,482) 135,563 848,332
- -----------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment:
In service 36,763,700 - - 11,783,078
Less accumulated provision for depreciation 14,075,044 - - 4,901,384
- -----------------------------------------------------------------------------------------------------------------------------------
22,688,656 - - 6,881,694
Nuclear fuel, at amortized cost 226,124 - - 106,836
Construction work in progress 1,629,701 - - 715,153
- -----------------------------------------------------------------------------------------------------------------------------------
Total property, plant, and equipment 24,544,481 - - 7,703,683
- -----------------------------------------------------------------------------------------------------------------------------------
Other Property and Investments:
Equity investments in subsidiaries 1,376,357 (11,221,151) 11,171,104 34,891
Property rights, being amortized 2,202,206 - - -
Goodwill, being amortized 2,105,859 - - -
Other intangibles, being amortized 446,927 - - -
Nuclear decommissioning trusts 658,567 - - 286,653
Other 1,134,650 (982,451) 13,352 12,156
- -----------------------------------------------------------------------------------------------------------------------------------
Total other property and investments 7,924,566 (12,203,602) 11,184,456 333,700
- -----------------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 987,144 - - 330,405
Prepaid pension costs 590,274 (24,905) - 213,971
Debt expense, being amortized 145,092 - - 9,563
Premium on reacquired debt, being amortized 217,125 - - 83,895
Department of Energy assessments 51,381 - - 27,685
Other 406,388 (39,237) 27,715 97,470
- -----------------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 2,397,404 (64,142) 27,715 762,989
- -----------------------------------------------------------------------------------------------------------------------------------
Total Assets $38,395,520 ($12,893,226) $11,347,734 $9,648,704
===================================================================================================================================
(Continued on the following page)
A-6a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
ASSETS Georgia Gulf Mississippi Savannah
Current Assets:
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 34,660 $ 15,753 $ 173 $ 6,553
Receivables --
Customer accounts receivable 438,161 66,719 61,274 41,841
Other accounts and notes receivable 102,544 4,325 23,490 3,505
Affiliated companies 16,006 7,104 16,097 1,195
Accumulated provision for uncollectible accounts (7,000) (1,026) (697) (237)
Refundable income taxes - - - -
Fossil fuel stock, at average cost 126,298 29,869 25,797 7,109
Materials and supplies, at average cost 253,894 30,088 20,638 8,402
Other 63,990 5,354 10,013 2,869
- -----------------------------------------------------------------------------------------------------------------------------
Total current assets 1,028,553 158,186 156,785 71,237
- -----------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment:
In service 15,798,624 1,853,664 1,601,399 804,096
Less accumulated provision for depreciation 6,538,574 821,970 626,841 360,639
- -----------------------------------------------------------------------------------------------------------------------------
9,260,050 1,031,694 974,558 443,457
Nuclear fuel, at amortized cost 119,288 - - -
Construction work in progress 425,975 34,164 68,721 6,561
- -----------------------------------------------------------------------------------------------------------------------------
Total property, plant, and equipment 9,805,313 1,065,858 1,043,279 450,018
- -----------------------------------------------------------------------------------------------------------------------------
Other Property and Investments:
Equity investments in subsidiaries 25,024 - 745 -
Property rights, being amortized - - - -
Goodwill, being amortized - - - -
Other intangibles, being amortized - - - -
Nuclear decommissioning trusts 371,914 - - -
Other 33,766 1,481 644 1,506
- -----------------------------------------------------------------------------------------------------------------------------
Total other property and investments 430,704 1,481 1,389 1,506
- -----------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 590,893 25,264 21,557 16,063
Prepaid pension costs 145,801 17,734 2,488 1,201
Debt expense, being amortized 55,824 2,526 4,355 3,155
Premium on reacquired debt, being amortized 99,331 17,360 8,154 8,385
Department of Energy assessments 23,696 - - -
Other 96,745 20,086 13,129 18,653
- -----------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 1,012,290 82,970 49,683 47,457
- -----------------------------------------------------------------------------------------------------------------------------
Total Assets $12,276,860 $1,308,495 $1,251,136 $570,218
=============================================================================================================================
(Continued on the following page)
A-6b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Southern Southern
ASSETS SEGCO SCS Nuclear Energy
Current Assets:
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 643 $ - $ 1,631 $ 322,909
Receivables --
Customer accounts receivable - - - 258,250
Other accounts and notes receivable 12 27,177 56 437,721
Affiliated companies 29,198 119,389 121,195 14,421
Accumulated provision for uncollectible accounts - - - (43,586)
Refundable income taxes 463 - - 100,200
Fossil fuel stock, at average cost - - - 36,980
Materials and supplies, at average cost - 2,645 - 92,181
Other 99 4,763 4,146 66,111
- -------------------------------------------------------------------------------------------------------------------------
Total current assets 30,415 153,974 127,028 1,285,187
- -------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment:
In service 328,263 258,843 8,263 4,061,653
Less accumulated provision for depreciation 216,436 125,810 7,024 421,141
- -------------------------------------------------------------------------------------------------------------------------
111,827 133,033 1,239 3,640,512
Nuclear fuel, at amortized cost - - - -
Construction work in progress 10,481 - - 364,526
- -------------------------------------------------------------------------------------------------------------------------
Total property, plant, and equipment 122,308 133,033 1,239 4,005,038
- -------------------------------------------------------------------------------------------------------------------------
Other Property and Investments:
Equity investments in subsidiaries - - - 1,365,744
Property rights, being amortized - - - 2,202,206
Goodwill, being amortized - - - 2,105,859
Other intangibles, being amortized - - - 446,927
Nuclear decommissioning trusts - - - -
Other 7 1,936 1,176 2,045,525
- -------------------------------------------------------------------------------------------------------------------------
Total other property and investments 7 1,936 1,176 8,166,261
- -------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 2,962 - - -
Prepaid pension costs - 11,324 - 222,660
Debt expense, being amortized 117 282 - 69,270
Premium on reacquired debt, being amortized - - - -
Department of Energy assessments - - - -
Other 670 11,552 35,925 123,480
- -------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 3,749 23,158 35,925 415,410
- -------------------------------------------------------------------------------------------------------------------------
Total Assets $ 156,479 $ 312,101 $ 165,368 $13,871,896
=========================================================================================================================
A-7a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Energy Southern Southern
ASSETS Solutions LINC Powercall Telecom SERC
Current Assets:
<S> <C> <C> <C> <C> <C>
Cash and cash equivalents $ 10,598 $ 7,184 $ 1,600 $ 17,673 $ 144
Receivables --
Customer accounts receivable - 19,417 6,607 - -
Other accounts and notes receivable 55,243 (261) - 760 -
Affiliated companies 19,757 1,129 1,732 - 269
Accumulated provision for uncollectible accounts (878) (1,303) (60) (6) -
Refundable income taxes 576 499 (244) - -
Fossil fuel stock, at average cost - - - - -
Materials and supplies, at average cost 832 8,266 497 - -
Other 123 1,635 342 7,160 -
- ----------------------------------------------------------------------------------------------------------------------------------
Total current assets 86,251 36,566 10,474 25,587 413
- ----------------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment:
In service 13,473 245,093 5,966 1,285 -
Less accumulated provision for depreciation 1,735 52,614 728 148 -
- ----------------------------------------------------------------------------------------------------------------------------------
11,738 192,479 5,238 1,137 -
Nuclear fuel, at amortized cost - - - - -
Construction work in progress 1,046 1,513 - 1,561 -
- ----------------------------------------------------------------------------------------------------------------------------------
Total property, plant, and equipment 12,784 193,992 5,238 2,698 -
- ----------------------------------------------------------------------------------------------------------------------------------
Other Property and Investments:
Equity investments in subsidiaries - - - - -
Property rights, being amortized - - - - -
Goodwill, being amortized - - - - -
Other intangibles, being amortized - - - - -
Nuclear decommissioning trusts - - - - -
Other 2,946 - (1) 2,607 -
- ----------------------------------------------------------------------------------------------------------------------------------
Total other property and investments 2,946 - (1) 2,607 -
- ----------------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes - - - - -
Prepaid pension costs - - - - -
Debt expense, being amortized - - - - -
Premium on reacquired debt, being amortized - - - - -
Department of Energy assessments - - - - -
Other - 54 146 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets - 54 146 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Total Assets $ 101,981 $ 230,612 $ 15,857 $ 30,892 $ 413
==================================================================================================================================
A-7b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Intercompany
Eliminations
and Transfers
LIABILITIES AND STOCKHOLDERS' EQUITY Consolidated Add (Deduct) Southern Alabama
Current Liabilities:
<S> <C> <C> <C> <C>
Securities due within one year $ 576,299 $ 39,923 $ - $ 100,943
Notes payable 3,915,258 (17,252) 1,074,664 96,824
Accounts payable --
Affiliated 37 (264,692) 7,515 91,315
Other 895,418 (3,153) 36,550 140,842
Customer deposits 132,555 - - 31,704
Taxes accrued --
Income taxes 155,326 (133,581) 9,839 100,569
Other 263,899 - - 18,295
Interest accrued 281,272 (14,279) 31,624 26,365
Vacation pay accrued 120,360 - - 30,112
Other 793,334 3,152 - 84,267
- -----------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 7,133,758 (389,882) 1,160,192 721,236
- -----------------------------------------------------------------------------------------------------------------------------------
Long-term debt (See accompanying statements) 11,746,596 (1,109,162) 979,383 3,190,378
- -----------------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 4,504,896 (44,272) - 1,240,344
Deferred credits related to income taxes 639,921 - - 265,102
Accumulated deferred investment tax credits 693,422 - - 260,367
Employee benefits provisions 1 513,395 (45,205) - 82,298
Prepaid capacity revenues 79,703 - - 79,703
Other 459,543 (83,552) 3,827 155,901
- -----------------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 6,890,880 (173,029) 3,827 2,083,715
- -----------------------------------------------------------------------------------------------------------------------------------
Minority interests in subsidiaries 724,610 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily redeemable preferred
securities of subsidiary trusts holding company junior
subordinated notes (See accompanying statements) 2,326,835 - - 347,000
- -----------------------------------------------------------------------------------------------------------------------------------
Cumulative preferred stock
of subsidiaries (See accompanying statements) 368,509 - - 317,512
- -----------------------------------------------------------------------------------------------------------------------------------
Common stockholders' equity (See accompanying statements) 9,204,332 (11,221,153) 9,204,332 2,988,863
- -----------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholders' Equity $ 38,395,520 $ (12,893,226) $ 11,347,734 $ 9,648,704
===================================================================================================================================
1 Includes Post Retirement Life & Medical Provisions, Supplemental and Other
Pension Accruals, Early Retirement Incentive Program Costs and Other Work Force
Reduction Costs, and Miscellaneous Post Employment Benefits.
A-8a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
LIABILITIES AND STOCKHOLDERS' EQUITY Georgia Gulf Mississippi Savannah
Current Liabilities:
<S> <C> <C> <C> <C>
Securities due within one year $ 155,772 $ - $ 30,020 $ 704
Notes payable 636,241 55,000 57,500 34,300
Accounts payable --
Affiliated 76,591 14,878 17,002 4,632
Other 346,785 22,581 43,105 11,118
Customer deposits 74,695 12,778 3,749 5,426
Taxes accrued --
Income taxes 7,914 4,889 6,865 3,046
Other 127,414 7,707 35,534 3,013
Interest accrued 58,665 9,255 6,733 3,237
Vacation pay accrued 38,143 4,199 5,218 2,142
Other 153,767 4,961 7,497 5,742
- ---------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 1,675,987 136,248 213,223 73,360
- ---------------------------------------------------------------------------------------------------------------------------------
Long-term debt (See accompanying statements) 2,688,358 367,449 321,802 147,147
- ---------------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 2,202,565 162,776 139,564 80,318
Deferred credits related to income taxes 267,083 49,693 34,765 19,687
Accumulated deferred investment tax credits 367,114 27,712 24,695 11,280
Employee benefits provisions 1 181,529 31,735 45,540 7,805
Prepaid capacity revenues - - - -
Other 151,812 21,333 12,770 15,774
- ---------------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 3,170,103 293,249 257,334 134,864
- ---------------------------------------------------------------------------------------------------------------------------------
Minority interests in subsidiaries - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily redeemable preferred
securities of subsidiary trusts holding company junior
subordinated notes (See accompanying statements) 789,250 85,000 35,000 40,000
- ---------------------------------------------------------------------------------------------------------------------------------
Cumulative preferred stock
of subsidiaries (See accompanying statements) 14,952 4,236 31,809 -
- ---------------------------------------------------------------------------------------------------------------------------------
Common stockholders' equity (See accompanying statements) 3,938,210 422,313 391,968 174,847
- ---------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholders' Equity $ 12,276,860 $ 1,308,495 $ 1,251,136 $ 570,218
=================================================================================================================================
1 Includes Post Retirement Life & Medical Provisions, Supplemental and Other
Pension Accruals, Early Retirement Incentive Program Costs and Other Work Force
Reduction Costs, and Miscellaneous Post Employment Benefits.
A-8b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Southern Southern
LIABILITIES AND STOCKHOLDERS' EQUITY SEGCO SCS Nuclear Energy
Current Liabilities:
<S> <C> <C> <C> <C>
Securities due within one year $ - $ 6,532 $ 5,000 $ 237,182
Notes payable - 17,000 - 1,960,729
Accounts payable --
Affiliated 11,931 13,189 18,317 2,179
Other - 29,765 13,005 229,855
Customer deposits - - - 4,203
Taxes accrued --
Income taxes 2,854 - 524 152,016
Other 330 2,461 858 66,303
Interest accrued 1,176 217 - 157,884
Vacation pay accrued - 17,915 13,917 7,236
Other 54 73,761 27,374 398,173
- --------------------------------------------------------------------------------------------------------------------------
Total current liabilities 16,345 160,840 78,995 3,215,760
- --------------------------------------------------------------------------------------------------------------------------
Long-term debt (See accompanying statements) 71,936 47,068 - 4,954,888
- --------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 12,303 - - 688,116
Deferred credits related to income taxes 3,591 - - -
Accumulated deferred investment tax credits 2,254 - - -
Employee benefits provisions 1 - 76,944 81,669 48,735
Prepaid capacity revenues - - - -
Other - 26,374 1,752 107,670
- --------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 18,148 103,318 83,421 844,521
- --------------------------------------------------------------------------------------------------------------------------
Minority interests in subsidiaries - - - 724,610
- --------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily redeemable preferred
securities of subsidiary trusts holding company junior
subordinated notes (See accompanying statements) - - - 1,030,585
- --------------------------------------------------------------------------------------------------------------------------
Cumulative preferred stock
of subsidiaries (See accompanying statements) - - - -
- --------------------------------------------------------------------------------------------------------------------------
Common stockholders' equity (See accompanying statements) 50,050 875 2,952 3,101,532
- --------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholders' Equity $ 156,479 $ 312,101 $ 165,368 $13,871,896
==========================================================================================================================
1 Includes Post Retirement Life & Medical Provisions, Supplemental and Other
Pension Accruals, Early Retirement Incentive Program Costs and Other Work Force
Reduction Costs, and Miscellaneous Post Employment Benefits.
The notes to the financial statements (herein incorporated by reference as part of exhibit numbers A-1 through A-6 inclusive) are
an integral part of this statement.
(Continued on following page)
A-9a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Energy Southern Southern
LIABILITIES AND STOCKHOLDERS' EQUITY Solutions LINC Powercall Telecom SERC
Current Liabilities:
<S> <C> <C> <C> <C> <C>
Securities due within one year $ 208 $ 15 $ - $ - $ -
Notes payable 252 - - - -
Accounts payable --
Affiliated 1,784 3,396 1,084 508 408
Other 10,366 12,369 1,100 1,130 -
Customer deposits - - - - -
Taxes accrued --
Income taxes - - - 391 -
Other 67 1,907 10 - -
Interest accrued - 395 - - -
Vacation pay accrued 622 856 - - -
Other 5,957 6,461 64 22,104 -
- ----------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 19,256 25,399 2,258 24,133 408
- ----------------------------------------------------------------------------------------------------------------------------------
Long-term debt (See accompanying statements) 2,107 85,242 - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 4,978 18,115 89 - -
Deferred credits related to income taxes - - - - -
Accumulated deferred investment tax credits - - - - -
Employee benefits provisions 1 1,259 1,086 - - -
Prepaid capacity revenues - - - - -
Other 21,880 24,002 - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 28,117 43,203 89 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Minority interests in subsidiaries - - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily redeemable preferred
securities of subsidiary trusts holding company junior
subordinated notes (See accompanying statements) - - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Cumulative preferred stock
of subsidiaries (See accompanying statements) - - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Common stockholders' equity (See accompanying statements) 52,501 76,768 13,510 6,759 5
- ----------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholders' Equity $ 101,981 $ 230,612 $ 15,857 $ 30,892 $ 413
==================================================================================================================================
1 Includes Post Retirement Life & Medical Provisions, Supplemental and Other
Pension Accruals, Early Retirement Incentive Program Costs and Other Work Force
Reduction Costs, and Miscellaneous Post Employment Benefits.
The notes to the financial statements (herein incorporated by reference as part of exhibit numbers A-1 through A-6 inclusive) are
an integral part of this statement.
A-9b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Intercompany
Eliminations
and Transfers
Consolidated Add (Deduct) Southern Alabama
Long-Term Debt of Subsidaries:
First mortgage bonds --
Maturity Interest Rates
<S> <C> <C> <C> <C> <C> <C>
2000 6.00% $ 200,000 $ - $ - $ 100,000
2003 6.13% to 6.63% 325,000 - - -
2004 6.60% 35,000 - - -
2005 through 2009 6.07% to 6.90% 105,000 - - -
2020 through 2024 7.30% to 9.00% 559,200 - - 500,000
2025 through 2026 6.88% to 7.70% 117,000 - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Total first mortgage bonds 1,341,200 - - 600,000
- ------------------------------------------------------------------------------------------------------------------------------------
Long-term notes payable --
6.38% to 11.00% due 2000-2002 279,256 - - -
5.35% to 9.75% due 2003-2004 901,301 - - 406,200
5.49% to 10.50% due 2005 760,029 - - 225,000
6.80% to 9.70% due 2006 593,172 - - -
5.76% to 10.25% due 2007 582,989 - - 200,000
3.07% to 10.56% due 2008-2015 1,604,509 - - 259,930
6.38% to 8.12% due 2018-2038 801,382 - - 323,892
6.63% to 7.13% due 2039-2048 1,028,800 - - 783,800
Adjustable rates (3.81% to 8.63% at 1/1/00)
due 2000-2007 1,886,697 - - -
Long-term notes payable to affiliates - (1,069,239) 979,383 -
- ------------------------------------------------------------------------------------------------------------------------------------
Total long-term notes payable 8,438,135 (1,069,239) 979,383 2,198,822
- ------------------------------------------------------------------------------------------------------------------------------------
Other long-term debt -- Pollution control revenue bonds -- Collateralized:
4.38% to 6.75% due 2000-2026 617,370 - - 24,400
Variable rates (3.70% to 4.85% at 1/1/00)
due 2015-2025 120,400 - - 89,800
Non-collateralized:
5.25% to 6.75% due 2015-2034 262,500 - - -
Variable rates (3.50% to 6.03% at 1/1/00)
due 2011-2037 1,509,750 - - 425,940
- ------------------------------------------------------------------------------------------------------------------------------------
Total other long-term debt 2,510,020 - - 540,140
- ------------------------------------------------------------------------------------------------------------------------------------
Capitalized lease obligations 96,658 - - 5,111
- ------------------------------------------------------------------------------------------------------------------------------------
Unamortized debt premium (discount), net (63,118) - - (52,752)
- ------------------------------------------------------------------------------------------------------------------------------------
Total long-term debt (annual interest
requirement -- $800 million) 12,322,895 (1,069,239) 979,383 3,291,321
Less amount due within one year 576,299 39,923 - 100,943
- ------------------------------------------------------------------------------------------------------------------------------------
Long-term debt excluding amount due within one year 11,746,596 (1,109,162) 979,383 3,190,378
- ------------------------------------------------------------------------------------------------------------------------------------
A-10a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Georgia Gulf Mississippi Savannah
Long-Term Debt of Subsidaries:
First mortgage bonds --
Maturity Interest Rates
<S> <C> <C> <C> <C> <C> <C>
2000 6.00% $ 100,000 $ - $ - $ -
2003 6.13% to 6.63% 275,000 30,000 - 20,000
2004 6.60% - - 35,000 -
2005 through 2009 6.07% to 6.90% 60,000 25,000 - 20,000
2020 through 2024 7.30% to 9.00% - - 35,000 24,200
2025 through 2026 6.88% to 7.70% 57,000 30,000 30,000 -
- ----------------------------------------------------------------------------------------------------------------------------------
Total first mortgage bonds 492,000 85,000 100,000 64,200
- ----------------------------------------------------------------------------------------------------------------------------------
Long-term notes payable --
6.38% to 11.00% due 2000-2002 - - - 10,000
5.35% to 9.75% due 2003-2004 - 50,000 35,000 -
5.49% to 10.50% due 2005 150,000 - - -
6.80% to 9.70% due 2006 - - - -
5.76% to 10.25% due 2007 - - - -
3.07% to 10.56% due 2008-2015 - - - 30,000
6.38% to 8.12% due 2018-2038 200,000 69,926 54,564 -
6.63% to 7.13% due 2039-2048 245,000 - - -
Adjustable rates (3.81% to 8.63% at 1/1/00)
due 2000-2007 - - 80,000 20,000
Long-term notes payable to affiliates - - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Total long-term notes payable 595,000 119,926 169,564 60,000
- ----------------------------------------------------------------------------------------------------------------------------------
Other long-term debt -- Pollution control revenue bonds -- Collateralized:
4.38% to 6.75% due 2000-2026 457,485 108,700 26,785 -
Variable rates (3.70% to 4.85% at 1/1/00)
due 2015-2025 - 20,000 10,600 -
Non-collateralized:
5.25% to 6.75% due 2015-2034 238,000 - - -
Variable rates (3.50% to 6.03% at 1/1/00)
due 2011-2037 978,705 40,930 46,220 17,955
- ----------------------------------------------------------------------------------------------------------------------------------
Total other long-term debt 1,674,190 169,630 83,605 17,955
- ----------------------------------------------------------------------------------------------------------------------------------
Capitalized lease obligations 85,851 - - 5,696
- ----------------------------------------------------------------------------------------------------------------------------------
Unamortized debt premium (discount), net (2,911) (7,107) (1,347) -
- ----------------------------------------------------------------------------------------------------------------------------------
Total long-term debt (annual interest
requirement -- $800 million) 2,844,130 367,449 351,822 147,851
Less amount due within one year 155,772 - 30,020 704
- ----------------------------------------------------------------------------------------------------------------------------------
Long-term debt excluding amount due within one year 2,688,358 367,449 321,802 147,147
- ----------------------------------------------------------------------------------------------------------------------------------
A-10b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Southern Southern
SEGCO SCS Nuclear Energy
Long-Term Debt of Subsidaries:
First mortgage bonds --
Maturity Interest Rates
<S> <C> <C> <C> <C> <C> <C>
2000 6.00% $ - $ - $ - $ -
2003 6.13% to 6.63% - - - -
2004 6.60% - - - -
2005 through 2009 6.07% to 6.90% - - - -
2020 through 2024 7.30% to 9.00% - - - -
2025 through 2026 6.88% to 7.70% - - - -
- --------------------------------------------------------------------------------------------------------------------------------
Total first mortgage bonds - - - -
- --------------------------------------------------------------------------------------------------------------------------------
Long-term notes payable --
6.38% to 11.00% due 2000-2002 - - - 269,256
5.35% to 9.75% due 2003-2004 - - - 410,101
5.49% to 10.50% due 2005 - 13,600 - 371,429
6.80% to 9.70% due 2006 - - - 593,172
5.76% to 10.25% due 2007 - - - 382,989
3.07% to 10.56% due 2008-2015 - 40,000 - 1,271,863
6.38% to 8.12% due 2018-2038 - - - 153,000
6.63% to 7.13% due 2039-2048 - - - -
Adjustable rates (3.81% to 8.63% at 1/1/00)
due 2000-2007 47,665 - - 1,739,032
Long-term notes payable to affiliates - - 5,000 -
- --------------------------------------------------------------------------------------------------------------------------------
Total long-term notes payable 47,665 53,600 5,000 5,190,842
- --------------------------------------------------------------------------------------------------------------------------------
Other long-term debt -- Pollution control revenue bonds -- Collateralized:
4.38% to 6.75% due 2000-2026 - - - -
Variable rates (3.70% to 4.85% at 1/1/00)
due 2015-2025 - - - -
Non-collateralized:
5.25% to 6.75% due 2015-2034 24,500 - - -
Variable rates (3.50% to 6.03% at 1/1/00)
due 2011-2037 - - - -
- --------------------------------------------------------------------------------------------------------------------------------
Total other long-term debt 24,500 - - -
- --------------------------------------------------------------------------------------------------------------------------------
Capitalized lease obligations - - - -
- --------------------------------------------------------------------------------------------------------------------------------
Unamortized debt premium (discount), net (229) - - 1,228
- --------------------------------------------------------------------------------------------------------------------------------
Total long-term debt (annual interest
requirement -- $800 million) 71,936 53,600 5,000 5,192,070
Less amount due within one year - 6,532 5,000 237,182
- --------------------------------------------------------------------------------------------------------------------------------
Long-term debt excluding amount due within one year 71,936 47,068 - 4,954,888
- --------------------------------------------------------------------------------------------------------------------------------
(Continued on following page)
A-11a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Energy Southern Southern
Solutions LINC Powercall Telecom SERC
Long-Term Debt of Subsidaries:
First mortgage bonds --
Maturity Interest Rates
<S> <C> <C> <C> <C> <C> <C> <C>
2000 6.00% $ - $ - $ - $ - $ -
2003 6.13% to 6.63% - - - - -
2004 6.60% - - - - -
2005 through 2009 6.07% to 6.90% - - - - -
2020 through 2024 7.30% to 9.00% - - - - -
2025 through 2026 6.88% to 7.70% - - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Total first mortgage bonds - - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Long-term notes payable --
6.38% to 11.00% due 2000-2002 - - - - -
5.35% to 9.75% due 2003-2004 - - - - -
5.49% to 10.50% due 2005 - - - - -
6.80% to 9.70% due 2006 - - - - -
5.76% to 10.25% due 2007 - - - - -
3.07% to 10.56% due 2008-2015 2,315 401 - - -
6.38% to 8.12% due 2018-2038 - - - - -
6.63% to 7.13% due 2039-2048 - - - - -
Adjustable rates (3.81% to 8.63% at 1/1/00)
due 2000-2007 - - - - -
Long-term notes payable to affiliates - 84,856 - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Total long-term notes payable 2,315 85,257 - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Other long-term debt -- Pollution control revenue bonds -- Collateralized:
4.38% to 6.75% due 2000-2026 - - - - -
Variable rates (3.70% to 4.85% at 1/1/00)
due 2015-2025 - - - - -
Non-collateralized:
5.25% to 6.75% due 2015-2034 - - - - -
Variable rates (3.50% to 6.03% at 1/1/00)
due 2011-2037 - - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Total other long-term debt - - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Capitalized lease obligations - - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Unamortized debt premium (discount), net - - - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Total long-term debt (annual interest
requirement -- $800 million) 2,315 85,257 - - -
Less amount due within one year 208 15 - - -
- ---------------------------------------------------------------------------------------------------------------------------------
Long-term debt excluding amount due within one year 2,107 85,242 - - -
- ---------------------------------------------------------------------------------------------------------------------------------
(Continued on following page)
A-11b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Intercompany
Eliminations
and Transfers
Consolidated Add (Deduct) Southern Alabama
Company or Subsidiary Obligated Mandatorily
Redeemable Capital and Preferred Securities:
$25 liquidation value --
<S> <C> <C>
6.85% to 7.00% 435,000 - - -
7.13% to 7.38% 297,000 - - 97,000
7.60% to 7.63% 415,000 - - 200,000
7.75% 649,250 - - -
8.14% to 9.00% 480,585 - - -
Auction rate (6.42% at 1/1/00) 50,000 - - 50,000
- ------------------------------------------------------------------------------------------------------------------------------------
Total (annual distribution requirement -- $176 million) 2,326,835 - - 347,000
- ------------------------------------------------------------------------------------------------------------------------------------
Cumulative Preferred Stock of Subsidiaries:
$100 par or stated value --
4.20% to 7.00% 98,509 - - 47,512
$25 par or stated value --
5.20% to 5.83% 200,000 - - 200,000
Adjustable and auction rates -- at 1/1/00
4.22% to 4.50% 70,000 - - 70,000
- ------------------------------------------------------------------------------------------------------------------------------------
Total (annual dividend requirement -- $19 million) 368,509 - - 317,512
Less amount due within one year - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Total excluding amount due within one year 368,509 - - 317,512
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stockholders' Equity:
Common stock, par value $5 per share --
Authorized - 1 billion shares
Issued - 1999: 701 million shares
- 1998: 700 million shares
Par value 3,503,102 (699,655) 3,503,102 224,358
Paid-in capital 2,480,198 (7,056,654) 2,480,198 1,539,091
Treasury, at cost (918,972) - (918,972) -
Retained earnings 4,232,399 (3,557,239) 4,232,399 1,225,414
Accumulated other comprehensive income (92,395) 92,395 (92,395) -
- ------------------------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 9,204,332 (11,221,153) 9,204,332 2,988,863
- ------------------------------------------------------------------------------------------------------------------------------------
Total Capitalization $ 23,646,272 $ (12,285,393) $ 10,183,715 $ 6,843,753
====================================================================================================================================
(Continued on following page)
A-12a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Georgia Gulf Mississippi Savannah
Company or Subsidiary Obligated Mandatorily
Redeemable Capital and Preferred Securities:
$25 liquidation value --
<S> <C> <C> <C> <C>
6.85% to 7.00% 200,000 45,000 - 40,000
7.13% to 7.38% - - - -
7.60% to 7.63% 175,000 40,000 - -
7.75% 414,250 - 35,000 -
8.14% to 9.00% - - - -
Auction rate (6.42% at 1/1/00) - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total (annual distribution requirement -- $176 million) 789,250 85,000 35,000 40,000
- -----------------------------------------------------------------------------------------------------------------------------------
Cumulative Preferred Stock of Subsidiaries:
$100 par or stated value --
4.20% to 7.00% 14,952 4,236 31,809 -
$25 par or stated value --
5.20% to 5.83% - - - -
Adjustable and auction rates -- at 1/1/00
4.22% to 4.50% - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total (annual dividend requirement -- $19 million) 14,952 4,236 31,809 -
Less amount due within one year - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total excluding amount due within one year 14,952 4,236 31,809 -
- -----------------------------------------------------------------------------------------------------------------------------------
Common Stockholders' Equity:
Common stock, par value $5 per share --
Authorized - 1 billion shares
Issued - 1999: 701 million shares
- 1998: 700 million shares
Par value 344,250 38,060 37,691 54,223
Paid-in capital 1,816,023 221,266 181,828 9,787
Treasury, at cost - - - -
Retained earnings 1,777,937 162,987 172,449 110,837
Accumulated other comprehensive income - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 3,938,210 422,313 391,968 174,847
- -----------------------------------------------------------------------------------------------------------------------------------
Total Capitalization $ 7,430,770 $ 878,998 $ 780,579 $ 361,994
===================================================================================================================================
(Continued on following page)
A-12b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Southern Southern
SEGCO SCS Nuclear Energy
Company or Subsidiary Obligated Mandatorily
Redeemable Capital and Preferred Securities:
$25 liquidation value --
<S> <C> <C>
6.85% to 7.00% - - - 150,000
7.13% to 7.38% - - - 200,000
7.60% to 7.63% - - - -
7.75% - - - 200,000
8.14% to 9.00% - - - 480,585
Auction rate (6.42% at 1/1/00) - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Total (annual distribution requirement -- $176 million) - - - 1,030,585
- ------------------------------------------------------------------------------------------------------------------------------------
Cumulative Preferred Stock of Subsidiaries:
$100 par or stated value --
4.20% to 7.00% - - - -
$25 par or stated value --
5.20% to 5.83% - - - -
Adjustable and auction rates -- at 1/1/00
4.22% to 4.50% - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Total (annual dividend requirement -- $19 million) - - - -
Less amount due within one year - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Total excluding amount due within one year - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stockholders' Equity:
Common stock, par value $5 per share --
Authorized - 1 billion shares
Issued - 1999: 701 million shares
- 1998: 700 million shares
Par value 328 725 10 1
Paid-in capital 32,670 150 2,942 2,987,260
Treasury, at cost - - - -
Retained earnings 17,052 - - 206,666
Accumulated other comprehensive income - - - (92,395)
- ------------------------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 50,050 875 2,952 3,101,532
- ------------------------------------------------------------------------------------------------------------------------------------
Total Capitalization $ 121,986 $ 47,943 $ 2,952 $ 9,042,083
====================================================================================================================================
The notes to the financial statements (herein incorporated by reference as
part of exhibit numbers A-1 through A-6 inclusive) are an integral part
of this statement.
A-13a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF CAPITALIZATION -- DECEMBER 31, 1999
(Stated in Thousands of Dollars)
(Continued)
Energy Southern Southern
Solutions LINC Powercall Telecom SERC
Company or Subsidiary Obligated Mandatorily
Redeemable Capital and Preferred Securities:
$25 liquidation value --
<S> <C>
6.85% to 7.00% - - - - -
7.13% to 7.38% - - - - -
7.60% to 7.63% - - - - -
7.75% - - - - -
8.14% to 9.00% - - - - -
Auction rate (6.42% at 1/1/00) - - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Total (annual distribution requirement -- $176 million) - - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Cumulative Preferred Stock of Subsidiaries:
$100 par or stated value --
4.20% to 7.00% - - - - -
$25 par or stated value --
5.20% to 5.83% - - - - -
Adjustable and auction rates -- at 1/1/00
4.22% to 4.50% - - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Total (annual dividend requirement -- $19 million) - - - - -
Less amount due within one year - - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Total excluding amount due within one year - - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Common Stockholders' Equity:
Common stock, par value $5 per share --
Authorized - 1 billion shares
Issued - 1999: 701 million shares
- 1998: 700 million shares
Par value 1 1 1 1 5
Paid-in capital 85,512 157,518 22,019 588 -
Treasury, at cost - - - - -
Retained earnings (33,012) (80,751) (8,510) 6,170 -
Accumulated other comprehensive income - - - - -
- ------------------------------------------------------------------------------------------------------------------------------
Total common stockholders' equity 52,501 76,768 13,510 6,759 5
- ------------------------------------------------------------------------------------------------------------------------------
Total Capitalization $ 54,608 $ 162,010 $ 13,510 $ 6,759 $ 5
==============================================================================================================================
The notes to the financial statements (herein incorporated by reference as part
of exhibit numbers A-1 through A-6 inclusive) are an integral part of this
statement.
A-13b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Intercompany
Eliminations
and Transfers
Consolidated Add (Deduct) Southern Alabama
<S> <C> <C> <C> <C>
Balance, December 31, 1998 $3,878,332 $ (3,384,299) $3,878,332 $ 1,224,965
ADD:
Net Income After Preferred Dividends 1,275,668 (1,428,233) 1,275,668 399,880
ADD (DEDUCT):
Dividends on Common Stock of Southern Company (921,484) - (921,484) -
Dividends on Common Stock of Subsidiary Companies - 1,255,179 - (399,600)
Other Preferred Stock Transactions, Net - (907) - 907
Other Adjustments to Retained Earnings (117) 1,020 (117) (738)
- ----------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $4,232,399 $ (3,557,240) $4,232,399 $ 1,225,414
============================================================================================================================
Southern Energy Southern
SEGCO Energy Solutions LINC
Balance, December 31, 1998 $ 15,920 $ 1 $ (29,649) $ (64,912)
ADD:
Net Income After Preferred Dividends 5,442 371,666 (3,363) (15,838)
ADD (DEDUCT):
Dividends on Common Stock of Southern Company - - - -
Dividends on Common Stock of Subsidiary Companies (4,312) (165,000) - -
Other Preferred Stock Transactions, Net - - - -
Other Adjustments to Retained Earnings 2 - - (1)
- ----------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $ 17,052 $ 206,667 $ (33,012) $ (80,751)
============================================================================================================================
The notes to the financial statements (herein incorporated by
reference as part of exhibit numbers A-1 through A-6
inclusive) are an integral part of this statement.
A-14a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Georgia Gulf Mississippi Savannah
<S> <C> <C> <C> <C>
Balance, December 31, 1998 $1,779,558 $ 170,620 $ 173,740 $ 112,954
ADD:
Net Income After Preferred Dividends 541,383 53,667 54,809 23,083
ADD (DEDUCT):
Dividends on Common Stock of Southern Company - - -
Dividends on Common Stock of Subsidiary Companies (543,000) (61,300) (56,100) (25,200)
Other Preferred Stock Transactions, Net - - -
Other Adjustments to Retained Earnings (4) - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $1,777,937 $ 162,987 $ 172,449 $ 110,837
====================================================================================================================================
Southern
Powercall Telecom
Balance, December 31, 1998 $ (3,510) $ 4,612
ADD:
Net Income After Preferred Dividends (4,720) 2,224
ADD (DEDUCT):
Dividends on Common Stock of Southern Company - -
Dividends on Common Stock of Subsidiary Companies - (667)
Other Preferred Stock Transactions, Net - -
Other Adjustments to Retained Earnings (280) 1
- -------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $ (8,510) $ 6,170
=================================================================================================
The notes to the financial statements (herein incorporated by reference as part
of exhibit numbers A-1 through A-6 inclusive) are an integral part of this
statement.
A-14b
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF PAID-IN CAPITAL
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Intercompany
Eliminations
and Transfers
Consolidated Add (Deduct) Southern Alabama
<S> <C> <C> <C> <C>
Balance, December 31, 1998 $2,461,521 $(6,284,513) $2,462,116 $ 1,334,645
ADD (DEDUCT):
Proceeds from issuance of common stock over
the par value thereof 18,447 - 18,447 -
Contributions & adjustments to capital for the
twelve month period - (775,537) - 204,347
Capital distribution to SOUTHERN for the
twelve month period - 3,333 - -
Other (247) 63 (365) -
- -----------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $2,479,721 $(7,056,654) $2,480,198 $ 1,538,992
=============================================================================================================================
Southern Southern
SEGCO SCS Nuclear Energy
Balance, December 31, 1998 $ 32,472 $ 150 $ 2,039 $ 2,626,378
ADD (DEDUCT):
Proceeds from issuance of common stock over
the par value thereof - - - -
Contributions & adjustments to capital for the
twelve month period 198 - 899 360,882
Capital distribution to SOUTHERN for the
twelve month period - - - -
Other - - 4 -
- -----------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $ 32,670 $ 150 $ 2,942 $ 2,987,260
=============================================================================================================================
The notes to the financial statements (herein incorporated by
reference as part of exhibit numbers A-1 through A-6
inclusive) are an integral part of this statement.
A-15a
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
THE SOUTHERN COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF PAID-IN CAPITAL
FOR THE YEAR ENDED DECEMBER 31, 1999
(Stated in Thousands of Dollars)
Georgia Gulf Mississippi Savannah
<S> <C> <C> <C> <C>
Balance, December 31, 1998 $1,660,206 $ 218,960 $ 179,474 $ 8,688
ADD (DEDUCT):
Proceeds from issuance of common stock over
the par value thereof - - -
Contributions & adjustments to capital for the
twelve month period 155,730 2,282 2,036 1,099
Capital distribution to SOUTHERN for the
twelve month period - - - -
Other 47 12 (8) -
- -----------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $1,815,983 $ 221,254 $ 181,502 $ 9,787
=============================================================================================================================
Energy Southern Southern
Solutions LINC Powercall Telecom
Balance, December 31, 1998 $ 54,447 $ 157,505 $ 5,620 $ 3,334
ADD (DEDUCT):
Proceeds from issuance of common stock over
the par value thereof - - - -
Contributions & adjustments to capital for the
twelve month period 31,065 13 16,399 587
Capital distribution to SOUTHERN for the
twelve month period - - - (3,333)
Other - - - -
- -----------------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999 $ 85,512 $ 157,518 $ 22,019 $ 588
=============================================================================================================================
The notes to the financial statements (herein incorporated by reference as part
of exhibit numbers A-1 through A-6 inclusive) are an integral part of this
statement.
A-15b
</TABLE>
<PAGE>
Notes to Financial Statements
at December 31, 1999
The notes to the financial statements are herein incorporated by reference as
part of exhibit numbers A-1 through A-6 inclusive and are an integral part of
the financial statements. Also see SOUTHERN's Current Report on Form 8-K dated
April 17, 2000 (Exhibit No. A-8 hereto) for a description of certain subsequent
events.
A-16
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
ALABAMA ALABAMA ALABAMA ALABAMA ALABAMA
Consolidated Eliminations CORPORATE TRUST I TRUST II TRUST III
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Total Operating Revenues $ 3,385,474 $ - $ 3,385,474 $ - $ - $ -
- -----------------------------------------------------------------------------------------------------------------------------------
- - -
OPERATING EXPENSES: - - -
Operation -- - - -
Fuel 855,632 - 855,632 - - -
Purchased power from non-affiliates 93,204 - 93,204 - - -
Purchase power from affiliates 180,563 - 180,563 - - -
Other 531,696 - 531,696 - - -
Maintenance 277,724 - 277,724 - - -
Depreciation and amortization 347,574 - 347,574 - - -
Taxes other than income taxes 204,645 - 204,645 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 2,491,038 - 2,491,038 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Income 894,436 - 894,436 - - -
Other Income (Expense): -
Interest income 55,896 (26,188) 56,659 7,375 15,670 2,380
Equity in earnings of unconcolidated subsidiaries 2,650 - 2,650 - - -
Other, net (24,861) - (24,861) - - -
- -----------------------------------------------------------------------------------------------------------------------------------
INCOME BEFORE INTEREST CHARGES 928,121 (26,188) 928,884 7,375 15,670 2,380
- -----------------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other: -
Interest on long-term debt 191,895 (25,425) 217,320 - - -
Interest on notes payable 9,865 - 9,865 - - -
Amortization of debt discount, premium and expense, net 11,159 - 11,159 - - -
Other interest charges 32,316 - 32,316 - - -
Distributions on preferred securities of subsidiaries 24,662 (763) - 7,375 15,670 2,380
- -----------------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 269,897 (26,188) 270,660 7,375 15,670 2,380
- -----------------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 658,224 - 658,224 - - -
Income taxes 241,880 - 241,880 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Net Income 416,344 - 416,344 - - -
Dividends on Preferred Stock 16,464 - 16,464 - - -
- -----------------------------------------------------------------------------------------------------------------------------------
NET INCOME AFTER DIVIDENDS ON PREFERRED STOCK $ 399,880 $ - $ 399,880 $ - $ - $ -
===================================================================================================================================
</TABLE>
A-17
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
- -----------------------------------------------------------------------------------------
ALABAMA ALABAMA
Consolidated Eliminations CORPORATE
- -----------------------------------------------------------------------------------------
Operating Activities:
<S> <C> <C> <C>
Net Income $ 416,344 $ - $ 416,344
Adjustments to reconcile consolidated net
income to net
cash provided by operating activities -
Depreciation and amortization 403,332 - 403,332
Deferred income taxes and investment tax
credits, net 29,039 - 29,039
Other, net (12,661) - (12,661
Change in current assets and liabilities -
Receivables, net 33,509 - 33,509
Fossil fuel stock (1,344) - (1,344
Materials and supplies (17,968) - (17,968
Accounts payable (38,556) - (38,556
Energy cost recovery, retail (97,869) - (97,869
Other 5,930 - 5,930
- -----------------------------------------------------------------------------------------
Net cash provided from operating activities 719,756 - 719,756
- -----------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (809,044) - (809,044
Other (72,218) 53,100 (73,768
- -----------------------------------------------------------------------------------------
Net cash used for investing activities (881,262) 53,100 (882,812
- -----------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net 96,824 - 96,824
Proceeds--
Other long-term debt 751,650 (51,550) 803,200
Preferred securities 50,000 (1,550) -
Capital contributions from parent company 204,347 - 204,347
Retirements--
Preferred stock (50,000) - (50,000
First mortgage bonds (470,000) - (470,000
Other long term debt (104,836) - (104,836
Payment of preferred stock dividends (15,788) - (15,788
Payment of common stock dividends (399,600) - (399,600
Other-- (15,864) - (15,864
- -----------------------------------------------------------------------------------------
Net cash provided from (used for) financing
activities 46,733 (53,100) 48,283
- -----------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents (114,773) - (114,773
Cash and Cash Equivalents at Beginning of Period 134,248 - 134,248
- -----------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 19,475 $ - $ 19,475
=========================================================================================
</TABLE>
A-18a
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
- --------------------------------------------------------------------------------------------------------------------------------
ALABAMA ALABAMA ALABAMA
TRUST I TRUST II TRUST III
- --------------------------------------------------------------------------------------------------------------------------------
Operating Activities:
<S> <C> <C> <C>
Net Income $ - $ - $ -
Adjustments to reconcile consolidated net income to net
cash provided by operating activities -
Depreciation and amortization - - -
Deferred income taxes and investment tax credits, net - - -
Other, net - - -
Change in current assets and liabilities - - - -
Receivables, net - - -
Fossil fuel stock - - -
Materials and supplies - - -
Accounts payable - - -
Energy cost recovery, retail - - -
Other - - -
- --------------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities - - -
- --------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions - - -
Other - - (51,550)
- --------------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities - - (51,550)
- --------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net - - -
Proceeds--
Other long-term debt - - -
Preferred securities - - 51,550
Capital contributions from parent company - - -
Retirements--
Preferred stock - - -
First mortgage bonds - - -
Other long term debt - - -
Payment of preferred stock dividends - - -
Payment of common stock dividends - - -
Other-- - - -
- --------------------------------------------------------------------------------------------------------------------------------
Net cash provided from (used for) financing activities - - 51,550
- --------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents - - -
Cash and Cash Equivalents at Beginning of Period - - -
- --------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ - $ - $ -
================================================================================================================================
</TABLE>
A-18b
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
ALABAMA ALABAMA
Consolidated Eliminations CORPORATE
- ------------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C>
Cash and cash equivalents $ 19,475 $ - $ 19,475
Receivables -
Customer accounts receivable 265,900 - 265,900
Unrecovered retail fuel clause revenue 168,627 - 168,627
Other accounts and notes receivable 42,137 - 42,137
Affiliated companies 40,083 - 40,083
Accumulated provision for uncollectible accts (4,117) - (4,117)
Refundable income taxes 17,997 - 17,997
Fossil fuel stock, at average cost 84,582 - 84,582
Materials and supplies, at average cost 167,637 - 167,637
Other 46,011 - 46,011
- ------------------------------------------------------------------------------------------------------------------------
Total current assets 848,332 - 848,332
- ------------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment 7,703,683 - 7,703,683
- ------------------------------------------------------------------------------------------------------------------------
Other Property and Investments 333,700 (368,472) 344,436
- ------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 330,405 - 330,405
Debt expense, being amortized 9,563 - 9,563
Premium on reacquired debt, being amortized 83,895 - 83,895
Prepaid pension Costs 213,971 - 213,971
Department of Energy assessments 27,685 - 27,685
Other 97,470 - 97,470
- ------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 762,989 - 762,989
- ------------------------------------------------------------------------------------------------------------------------
Total Assets $ 9,648,704 $(368,472) $ 9,659,440
========================================================================================================================
</TABLE>
A-19a
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
ALABAMA ALABAMA ALABAMA
TRUST I TRUST II TRUST III
- -----------------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C>
Cash and cash equivalents $ - $ - $ -
Receivables -
Customer accounts receivable - - -
Unrecovered retail fuel clause revenue - - -
Other accounts and notes receivable - - -
Affiliated companies - - -
Accumulated provision for uncollectible accts - - -
Refundable income taxes - - -
Fossil fuel stock, at average cost - - -
Materials and supplies, at average cost - - -
Other - - -
- -----------------------------------------------------------------------------------------------------------------------------
Total current assets - - -
- -----------------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment - - -
- -----------------------------------------------------------------------------------------------------------------------------
Other Property and Investments 100,000 206,186 51,550
- -----------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes - - -
Debt expense, being amortized - - -
Premium on reacquired debt, being amortized - - -
Prepaid pension Costs - - -
Department of Energy assessments - - -
Other - - -
- -----------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets - - -
- -----------------------------------------------------------------------------------------------------------------------------
Total Assets $ 100,000 $ 206,186 $ 51,550
=============================================================================================================================
</TABLE>
A-19b
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
ALABAMA ALABAMA
Consolidated Eliminations CORPORATE
- -----------------------------------------------------------------------------------------------------
Current Liabilities:
<S> <C> <C> <C>
Securities due within one year $ 100,943 $ - $ 100,943
Notes payable 96,824 - 96,824
Accounts payable -
Affiliated 91,315 - 91,315
Other 140,842 - 140,842
Customer deposits 31,704 - 31,704
Taxes accrued 118,864 - 118,864
Interest accrued 26,365 - 26,365
Vacation pay accrued 30,112 - 30,112
Other 84,267 - 84,267
- -----------------------------------------------------------------------------------------------------
Total current liabilities 721,236 - 721,236
- -----------------------------------------------------------------------------------------------------
Long-term debt 3,190,378 (357,736) 3,548,114
- -----------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 1,240,344 - 1,240,344
Deferred credits related to income taxes 265,102 - 265,102
Accumulated deferred investment tax credits 260,367 - 260,367
Employee benefits provisions 82,298 - 82,298
Prepaid capacity revenues, net 79,703 - 79,703
Miscellaneous 155,901 - 155,901
- -----------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 2,083,715 - 2,083,715
- -----------------------------------------------------------------------------------------------------
Company obligated mandatorily
redeemable preferred securities 347,000 (10,736) -
Cumulative preferred stock 317,512 - 317,512
Common stock equity 2,988,863 - 2,988,863
- -----------------------------------------------------------------------------------------------------
Total Liabilities and Stockholder's Equity $ 9,648,704 $(368,472) $ 9,659,440
- -----------------------------------------------------------------------------------------------------
</TABLE>
A-20a
<PAGE>
<TABLE>
<CAPTION>
ALABAMA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
ALABAMA ALABAMA ALABAMA
TRUST I TRUST II TRUST III
- ---------------------------------------------------------------------------------------------------------------
Current Liabilities:
<S> <C> <C> <C>
Securities due within one year $ - $ - $ -
Notes payable - - -
Accounts payable -
Affiliated - - -
Other - - -
Customer deposits - - -
Taxes accrued - - -
Interest accrued - - -
Vacation pay accrued - - -
Other - - -
- ---------------------------------------------------------------------------------------------------------------
Total current liabilities - - -
- ---------------------------------------------------------------------------------------------------------------
Long-term debt - - -
- ---------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes - - -
Deferred credits related to income taxes - - -
Accumulated deferred investment tax credits - - -
Employee benefits provisions - - -
Prepaid capacity revenues, net - - -
Miscellaneous - - -
- ---------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities - - -
- ---------------------------------------------------------------------------------------------------------------
Company obligated mandatorily
redeemable preferred securities 100,000 206,186 51,550
Cumulative preferred stock - - -
Common stock equity - - -
- ---------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholder's Equity $ 100,000 $ 206,186 $ 51,550
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
A-20b
<PAGE>
Notes to ALABAMA's Consolidated
Financial Statements
(A) Represents equity in earnings of SEGCO, a non-consolidated
subsidiary in which ALABAMA has 50% ownership, which is
accounted for on the equity basis. See pages A-2 through A-16
for SEGCO's financial statements consolidated for SOUTHERN.
(B) Includes $71,243 loss in earnings of Alabama Property
Company, a non-consolidated subsidiary, which is accounted
for on the equity basis. See pages A-24 through A-26 for
Alabama Property Company's financial statements.
(C) Represents ALABAMA's investment in SEGCO.
(D) Includes $9,866,315 of investments in Alabama Property Company.
A-21
<PAGE>
ALABAMA PROPERTY COMPANY
STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(Unaudited; Not Consolidated in Parent, ALABAMA)
REVENUES:
Sales of recreational lots $ 15,500
Rentals 109,349
Interest on securities owned 256,868
---------
Total Revenues 381,717
COSTS AND EXPENSES:
Cost of recreational lot sales 78,123
Selling, administrative and general expenses 339,611
Taxes, net 35,226
---------
Total costs and expenses 452,961
---------
NET INCOME $ (71,246)
----------
ALABAMA PROPERTY COMPANY
STATEMENT OF RETAINED EARNINGS
FOR THE YEAR ENDED DECEMBER 31, 1999
(Unaudited; Not Consolidated in Parent, ALABAMA)
RETAINED EARNINGS AT DECEMBER 31, 1998 $9,485,987
Net loss (71,246)
-----------
RETAINED EARNINGS AT DECEMBER 31, 1999 $9,414,741
==========
A-22
<PAGE>
ALABAMA PROPERTY COMPANY
BALANCE SHEET AT DECEMBER 31, 1999
(Unaudited; Not Consolidated in Parent, ALABAMA)
ASSETS
CURRENT ASSETS:
Cash $ 77,531
Temporary cash investments 5,169,241
Accounts receivable
Other 2,500
Associated Companies 33,287
-----------
Total current assets 5,282,559
PROPERTY AND MINERAL RIGHTS HELD FOR
FUTURE DEVELOPMENT 4,536,987
-----------
Total Assets $9,819,546
==========
LIABILITIES AND CAPITALIZATION
CURRENT LIABILITIES:
Accounts payable to associated companies $ 76,119
Accrued income taxes (122,888)
-----------
Total current liabilities (46,769)
-----------
SHAREHOLDER'S INVESTMENT:
Common stock, $150 par value; 1,000 shares
authorized, issued and outstanding 150,000
Additional paid-in capital 301,572
Retained earnings 9,414,743
-----------
Total shareholder's investment 9,866,315
-----------
Total liabilities and capitalization $ 9,819,546
===========
A-23
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA
Consolidated Eliminations CORPORATE PIEDMONT
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TOTAL OPERATING REVENUES $ 4,456,675 $ (839) $ 4,456,675 $ 839 $
- ----------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES:
Operation --
Fuel 919,876 - 919,876 -
Purchased and interchanged, net 214,573 - 214,573 -
Purchase power from affiliates 174,989 - 174,989 -
Other 784,359 (839) 785,189 -
Maintenance 411,983 - 411,983 -
Depreciation and amortization 467,966 - 467,918 48
Taxes other than income taxes 202,853 - 202,509 344
- ----------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 3,176,599 (839) 3,177,037 392
- ----------------------------------------------------------------------------------------------------------------------------------
Operating Income 1,280,076 - 1,279,638 447
Other Income (Expense):
Interest income 5,583 (68,330) 5,097 977
Equity in earnings of unconsolidated subsidiaries 2,721 - 2,721 -
Other, net (47,986) - (47,928) (58)
- ----------------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 1,240,394 (68,330) 1,239,528 1,366
- ----------------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 162,303 (68,330) 230,142 491
Interest on notes payable 19,787 - 19,787 -
Amortization of debt discount, premium and expense, net 100,115 - 100,115 -
Other interest charges, net (2,336) - (2,336) -
Distributions on preferred securities of subsidiary companies 65,774 - - -
- ----------------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 345,643 (68,330) 347,708 491
- ----------------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 894,751 - 891,820 875
Income taxes 351,639 - 351,300 339
- ----------------------------------------------------------------------------------------------------------------------------------
Net Income 543,112 - 540,520 536
Dividends on Preferred Stock 1,729 - 1,729 -
- ----------------------------------------------------------------------------------------------------------------------------------
NET INCOME AFTER DIVIDENDS ON PREFERRED STOCK $ 541,383 $ - $ 538,791 $ 536
==================================================================================================================================
</TABLE>
A-24a
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA GEORGIA GEORGIA GEORGIA
CAPITAL TRUST I TRUST II TRUST III TRUST IV
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
TOTAL OPERATING REVENUES $ - $ - $ - $ - $ -
- -------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES:
Operation --
Fuel - - - - -
Purchased and interchanged, net - - - - -
Purchase power from affiliates - - - - -
Other 9 - - - -
Maintenance - - - - -
Depreciation and amortization - - - - -
Taxes other than income taxes - - - - -
- -------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 9 - - - -
- -------------------------------------------------------------------------------------------------------------------------------
Operating Income (9) - - - -
Other Income (Expense):
Interest income 8,995 17,977 13,711 15,121 12,035
Equity in earnings of unconsolidated subsidiaries - - - - -
Other, net - - - - -
- -------------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 8,986 17,977 13,711 15,121 12,035
- -------------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt - - - - -
Interest on notes payable - - - - -
Amortization of debt discount, premium and expense, net - - - - -
Other interest charges, net - - - - -
Distributions on preferred securities of subsidiary companies 8,725 17,437 13,300 14,667 11,645
- -------------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 8,725 17,437 13,300 14,667 11,645
- -------------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 261 540 411 454 390
Income taxes - - - - -
- -------------------------------------------------------------------------------------------------------------------------------
Net Income 261 540 411 454 390
Dividends on Preferred Stock - - - -
- -------------------------------------------------------------------------------------------------------------------------------
NET INCOME AFTER DIVIDENDS ON PREFERRED STOCK $ 261 $ 540 $ 411 $ 454 $ 390
===============================================================================================================================
</TABLE>
A-24b
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA
Consolidated Eliminations CORPORATE PIEDMONT
- ------------------------------------------------------------------------------------------------------------------------------
Operating Activities:
<S> <C> <C> <C> <C>
Net Income $ 543,112 $ - $ 540,520 $ 536
Adjustments to reconcile consolidated net income to net cash
provided by operating activities -
Depreciation and amortization 578,878 - 578,773 105
Deferred income taxes and investment tax credits, net (34,930) - (34,814) (116)
Allowance for equity funds used during construction (734) - (734) -
Other, net 43,555 - 43,555 -
Change in current assets and liabilities -
Receivables, net 21,665 2,592 21,129 -
Inventories (32,582) - (32,582) -
Payables 13,095 (2,592) 15,687 -
Taxes accrued (2,832) - (3,211) 379
Energy cost recovery, retail (26,862) - (26,862) -
Other 93,620 - 93,620 -
- ------------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities 1,195,985 - 1,195,081 904
- ------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (790,464) - (790,464) -
Other (27,454) - (27,454) -
- ------------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities (817,918) - (817,918) -
- ------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net 295,389 - 295,389 -
Proceeds--
Senior notes and other long-term debt 100,000 - 100,028 (28)
Pollution control bonds 238,000 - 238,000 -
Preferred securities 200,000 - 200,000 -
Capital contributions from parent company 155,777 - 155,777 -
Retirements--
First mortgage bonds (404,000) - (404,000) -
Pollution control bonds (235,000) - (235,000) -
Preferred securities (100,000) - (100,000) -
Preferred stock (36,231) - (36,231) -
Payment of preferred stock dividends (984) - (984) -
Payment of common stock dividends (543,000) - (543,000) -
Other-- (29,630) - (28,754) (876)
- ------------------------------------------------------------------------------------------------------------------------------
Net cash used for financing activities (359,679) - (358,775) (904)
- ------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents 18,388 - 18,388 -
Cash and Cash Equivalents at Beginning of Year 16,272 - 16,272 -
- ------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Year $ 34,660 $ - $ 34,660 $ -
==============================================================================================================================
</TABLE>
A-25a
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA GEORGIA GEORGIA GEORGIA
CAPITAL TRUST I TRUST II TRUST III TRUST IV
- -----------------------------------------------------------------------------------------------------------------------------------
Operating Activities:
<S> <C> <C> <C> <C> <C>
Net Income $ 262 $ 539 $ 411 $ 454 $ 390
Adjustments to reconcile consolidated net income to net cash
provided by operating activities -
Depreciation and amortization - - - - -
Deferred income taxes and investment tax credits, net - - - - -
Allowance for equity funds used during construction - - - - -
Other, net - - - - -
Change in current assets and liabilities -
Receivables, net (262) (539) (411) (454) (390)
Inventories - - - - -
Payables - - - - -
Taxes accrued - - - - -
Energy cost recovery, retail - - - - -
Other - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions - - - - -
Other - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net - - - - -
Proceeds--
Senior notes and other long-term debt - - - - -
Pollution control bonds - - - - -
Preferred securities - - - - -
Capital contributions from parent company - - - - -
Retirements--
First mortgage bonds - - - - -
Pollution control bonds - - - - -
Preferred securities - - - - -
Preferred stock - - - - -
Payment of preferred stock dividends - - - - -
Payment of common stock dividends - - - - -
Other-- - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Net cash used for financing activities - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents - - - - -
Cash and Cash Equivalents at Beginning of Year - - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Year $ - $ - $ - $ - $ -
===================================================================================================================================
</TABLE>
A-25b
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA
Consolidated Eliminations CORPORATE PIEDMONT
- ----------------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 34,660 $ - $ 34,660 $ -
Receivables -
Customer accounts receivable 438,161 - 438,161 -
Other accounts and notes receivable 102,544 (5,843) 102,544 -
Affiliated companies 16,006 - 16,006 -
Accumulated provision for uncollectible accts (7,000) - (7,000) -
Fossil fuel stock, at average cost 126,298 - 126,298 -
Materials and supplies, at average cost 253,894 - 253,894 -
Other 63,990 - 63,990 -
Total current assets 1,028,553 (5,843) 1,028,553 -
- ----------------------------------------------------------------------------------------------------------------------------
Utility Plant 9,805,313 - 9,786,278 19,035
- ----------------------------------------------------------------------------------------------------------------------------
Other Property and Investments 430,704 (870,683) 482,547 2,081
- ----------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 590,893 - 590,893 -
Prepaid pension costs 145,801 - 145,801 -
Debt expense, being amortized 55,824 - 55,824 -
Premium on reacquired debt, being amortized 99,331 - 99,331 -
Other 120,441 - 120,441 -
- ----------------------------------------------------------------------------------------------------------------------------
Ttoal deferred charges and other assets 1,012,290 - 1,012,290 -
- ----------------------------------------------------------------------------------------------------------------------------
Total Assets $ 12,276,860 $ (876,526) $ 12,309,668 $ 21,116
============================================================================================================================
</TABLE>
A-26a
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA GEORGIA GEORGIA GEORGIA
CAPITAL TRUST I TRUST II TRUST III TRUST IV
- ------------------------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C> <C> <C>
Cash and cash equivalents $ - $ - $ - $ - $ -
Receivables -
Customer accounts receivable - - - - -
Other accounts and notes receivable 1,326 1,752 1,217 1,158 390
Affiliated companies - - - - -
Accumulated provision for uncollectible accts - - - - -
Fossil fuel stock, at average cost - - - - -
Materials and supplies, at average cost - - - - -
Other - - - - -
Total current assets 1,326 1,752 1,217 1,158 390
- ------------------------------------------------------------------------------------------------------------------------------------
Utility Plant - - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Other Property and Investments 3,100 231,959 180,412 195,103 206,185
- ------------------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes - - - - -
Prepaid pension costs - - - - -
Debt expense, being amortized - - - - -
Premium on reacquired debt, being amortized - - - - -
Other - - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Ttoal deferred charges and other assets - - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Total Assets $ 4,426 $ 233,711 $ 181,629 $ 196,261 $ 206,575
====================================================================================================================================
</TABLE>
A-26b
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA
Consolidated Eliminations CORPORATE PIEDMONT
- -----------------------------------------------------------------------------------------------------------------------------
Current Liabilities:
<S> <C> <C> <C> <C>
Securities due within one year $ 155,772 $ - $ 155,772 $ -
Notes payable to banks 636,241 - 636,241 -
Accounts payable -
Affiliated 76,591 - 76,591 -
Other 346,785 - 346,785 -
Customer deposits 74,695 - 74,695 -
Taxes accrued 135,328 - 134,504 824
Interest accrued 58,665 (5,843) 64,508 -
Vacation pay accrued 38,143 - 38,143 -
Other 153,767 - 153,767 -
- -----------------------------------------------------------------------------------------------------------------------------
Total current liabilities 1,675,987 (5,843) 1,681,006 824
- -----------------------------------------------------------------------------------------------------------------------------
Long-Term Debt 2,688,358 (830,005) 3,505,118 13,245
- -----------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 2,202,565 - 2,202,844 (279)
Accumulated deferred investment tax credits 367,114 - 367,114 -
Deferred credits related to income taxes 267,083 - 267,083 -
Employee benefits provisions 181,529 - 181,529 -
Other 151,812 - 151,812 -
- -----------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 3,170,103 - 3,170,382 (279)
- -----------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily
redeemable preferred securities 789,250 - - -
- -----------------------------------------------------------------------------------------------------------------------------
Cumulative Preferred Stock 14,952 - 14,952 -
- -----------------------------------------------------------------------------------------------------------------------------
Common Stockholder's Equity 3,938,210 (40,678) 3,938,210 7,326
- -----------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholder's Equity $ 12,276,860 $ (876,526) $ 12,309,668 $ 21,116
=============================================================================================================================
</TABLE>
A-27a
<PAGE>
<TABLE>
<CAPTION>
GEORGIA POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
GEORGIA GEORGIA GEORGIA GEORGIA GEORGIA
CAPITAL TRUST I TRUST II TRUST III TRUST IV
- ------------------------------------------------------------------------------------------------------------------------
Current Liabilities:
<S> <C> <C> <C> <C> <C>
Securities due within one year $ - $ - $ - $ - $ -
Notes payable to banks - - - - -
Accounts payable -
Affiliated - - - - -
Other - - - - -
Customer deposits - - - - -
Taxes accrued - - - - -
Interest accrued - - - - -
Vacation pay accrued - - - - -
Other - - - - -
- ------------------------------------------------------------------------------------------------------------------------
Total current liabilities - - - - -
- ------------------------------------------------------------------------------------------------------------------------
Long-Term Debt - - - - -
- ------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes - - - - -
Accumulated deferred investment tax credits - - - - -
Deferred credits related to income taxes - - - - -
Employee benefits provisions - - - - -
Other - - - - -
- ------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities - - - - -
- ------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily
redeemable preferred securities - 225,000 175,000 189,250 200,000
- ------------------------------------------------------------------------------------------------------------------------
Cumulative Preferred Stock - - - - -
- ------------------------------------------------------------------------------------------------------------------------
Common Stockholder's Equity 4,426 8,711 6,629 7,011 6,575
- ------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholder's Equity $ 4,426 $ 233,711 $ 181,629 $ 196,261 $ 206,575
========================================================================================================================
</TABLE>
A-27b
<PAGE>
Notes to GEORGIA's Consolidated
Financial Statements
(A) Includes $2,721,000 equity in earnings for SEGCO, a
non-consolidated subsidiary in which GEORGIA has 50% ownership.
SEGCO is accounted for on the equity basis. See pages A-2 through
A-14 for SEGCO's financial statements consolidated for SOUTHERN.
(B) Includes $25,024,000 of investments in SEGCO.
A-28
<PAGE>
<TABLE>
<CAPTION>
GULF POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GULF GULF
Consolidated Eliminations CORPORATE
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Total operating revenues $ 674,099 $ - $ 674,099
- ------------------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel 209,031 - 209,031
Purchased power from non-affiliates 46,332 - 46,332
Purchased power from affiliates 10,703 - 10,703
Other 114,670 - 114,670
Maintenance 57,830 - 57,830
Depreciation and amortization 64,589 - 64,589
Taxes other than income taxes 51,782 - 51,782
- ------------------------------------------------------------------------------------------------------------
Total operating expenses 554,937 - 554,937
- ------------------------------------------------------------------------------------------------------------
Operating income 119,162 119,162
Other Income (Expense):
Interest income 1,771 (6,391) 1,771
Other, net (1,357) - (1,357)
- ------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 119,576 (6,391) 119,576
- ------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 21,375 (6,391) 27,766
Interest on notes payable 2,371 - 2,371
Amortization of debt discount, premium and expense, net 1,989 - 1,989
Other interest charges 1,126 - 1,126
Distributions on preferred securities of subsidiary 6,200 - -
- ------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 33,061 (6,391) 33,252
- ------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 86,515 - 86,324
Income taxes 32,631 - 32,631
- ------------------------------------------------------------------------------------------------------------
Net Income 53,884 - 53,693
Dividends on Preferred Stock 217 - 217
- ------------------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $ 53,667 $ - $ 53,476
============================================================================================================
</TABLE>
A-29a
<PAGE>
<TABLE>
<CAPTION>
GULF POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GULF GULF
TRUST I TRUST II
- -------------------------------------------------------------------------------------------------
<S> <C> <C>
Total operating revenues $ - $ -
- -------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel - -
Purchased power from non-affiliates - -
Purchased power from affiliates - -
Other - -
Maintenance - -
Depreciation and amortization - -
Taxes other than income taxes - -
- -------------------------------------------------------------------------------------------------
Total operating expenses - -
- -------------------------------------------------------------------------------------------------
Operating income
Other Income (Expense):
Interest income 3,144 3,247
Other, net - -
- -------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 3,144 3,247
- -------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt - -
Interest on notes payable - -
Amortization of debt discount, premium and expense, net - -
Other interest charges - -
Distributions on preferred securities of subsidiary 3,050 3,150
- -------------------------------------------------------------------------------------------------
Total interest charges and other, net 3,050 3,150
- -------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 94 97
Income taxes - -
- -------------------------------------------------------------------------------------------------
Net Income 94 97
Dividends on Preferred Stock - -
- -------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $ 94 $ 97
=================================================================================================
</TABLE>
A-29b
<PAGE>
<TABLE>
<CAPTION>
GULF POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
GULF GULF GULF GULF
Consolidated Eliminations CORPORATE TRUST I TRUST II
- ----------------------------------------------------------------------------------------------------------------------------------
OPERATING ACTIVITIES
<S> <C> <C> <C> <C> <C>
Net Income $ 53,884 $ - $ 53,693 $ 94 $ 97
Adjustments to reconcile consolidated net income to net cash
provided by operating activities -
Depreciation and amortization 68,721 - 68,721 - -
Deferred income taxes and investment tax credits, net (6,609) - (6,609) - -
Other, net 3,735 - 3,735 - -
Change in current assets and liabilities -
Receivables, net (10,484) 191 (10,484) (94) (97)
Fossil fuel stock (5,656) - (5,656) - -
Materials and supplies (2,063) - (2,063) - -
Accounts payable (2,023) (191) (1,832) - -
Other 7,030 - 7,030 - -
- ----------------------------------------------------------------------------------------------------------------------------------
NET CASH PROVIDED FROM OPERATING ACTIVITIES 106,535 - 106,535 - -
- ----------------------------------------------------------------------------------------------------------------------------------
INVESTING ACTIVITIES
Gross property additions (69,798) - (69,798)
Other (8,856) - (8,856)
- ----------------------------------------------------------------------------------------------------------------------------------
NET CASH USED FOR INVESTING ACTIVITIES (78,654) - (78,654) - -
- ----------------------------------------------------------------------------------------------------------------------------------
FINANCING ACTIVITIES AND CAPITAL CONTRIBUTIONS
Increase (Decrease) in notes payable, net 23,500 - 23,500 - -
Proceeds--
Other long-term debt 50,000 - 50,000 - -
Capital contributions from parent company 2,294 - 2,294 - -
Retirements--
Other long-term debt (27,074) - (27,074) - -
Payment of preferred stock dividends (271) - (271) - -
Payment of common stock dividends (61,300) - (61,300) - -
Other (246) - (246) - -
- ----------------------------------------------------------------------------------------------------------------------------------
NET CASH USED FOR FINANCINGS (13,097) - (13,097) - -
- ----------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents 14,784 - 14,784 - -
Cash and Cash Equivalents at Beginning of Period 969 - 969 - -
- ----------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 15,753 $ - $ 15,753 $ - $ -
==================================================================================================================================
</TABLE>
A-30
<PAGE>
<TABLE>
<CAPTION>
GULF POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
GULF GULF GULF GULF
Consolidated Eliminations CORPORATE TRUST I TRUST II
- --------------------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C> <C> <C>
Cash and cash equivalents $ 15,753 $ - $ 15,753 $ - $ -
Receivables -
Customer accounts receivable 55,108 - 55,108 - -
Other accounts and notes receivable 4,325 (473) 4,325 275 198
Affiliated companies 7,104 - 7,104 - -
Accumulated provision for uncollectible accts (1,026) - (1,026) - -
Fossil fuel stock, at average cost 29,869 - 29,869 - -
Materials and supplies, at average cost 30,088 - 30,088 - -
Regulatory clauses under recovery 11,611 - 11,611 - -
Other 5,354 - 5,354 - -
- --------------------------------------------------------------------------------------------------------------------------------
Total current assets 158,186 (473) 158,186 275 198
- --------------------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment 1,065,858 - 1,065,858 - -
- --------------------------------------------------------------------------------------------------------------------------------
Other Property and Investments 1,481 (90,258) 4,110 41,237 46,392
- --------------------------------------------------------------------------------------------------------------------------------
Deferred Charges and OtherAssets:
Deferred charges related to income taxes 25,264 - 25,264 - -
Prepaid pension costs 17,734 - 17,734 - -
Debt expense, being amortized 2,526 - 2,526 - -
Premium on reacquired debt, being amortized 17,360 - 17,360 - -
Other 20,086 - 20,086 - -
- --------------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 82,970 - 82,970 - -
- --------------------------------------------------------------------------------------------------------------------------------
Total Assets $ 1,308,495 $ (90,731) $ 1,311,124 $ 41,512 $ 46,590
================================================================================================================================
</TABLE>
A-31
<PAGE>
<TABLE>
<CAPTION>
GULF POWER COMPANY AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
GULF GULF GULF GULF
Consolidated Eliminations CORPORATE TRUST I TRUST II
- -------------------------------------------------------------------------------------------------------------------------------
Current Liabilities:
<S> <C> <C> <C> <C> <C>
Notes payable $ 55,000 $ - $ 55,000 $ - $ -
Accounts payable
Affiliated companies 14,878 - 14,878 - -
Other 22,581 - 22,581 - -
Customer deposits 12,778 - 12,778 - -
Taxes accrued 12,596 - 12,596 - -
Interest accrued 9,255 (473) 9,728 - -
Vacation pay accrued 4,199 - 4,199 - -
Other 4,961 - 4,961 - -
- -------------------------------------------------------------------------------------------------------------------------------
Total current liabilities 136,248 (473) 136,721 - -
- -------------------------------------------------------------------------------------------------------------------------------
Long-term debt 367,449 (87,629) 455,078 - -
- -------------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 162,776 - 162,776 - -
Accumulated deferred investment tax credits 27,712 - 27,712 - -
Deferred credits related to income taxes 49,693 - 49,693 - -
Employee benefits provisions 31,735 - 31,735 - -
Other 21,333 - 21,333 - -
- -------------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 293,249 - 293,249 - -
- -------------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily
redeemable preferred securities 85,000 - - 40,000 45,000
- -------------------------------------------------------------------------------------------------------------------------------
Preferred stock 4,236 - 4,236 - -
- -------------------------------------------------------------------------------------------------------------------------------
Common stockholder's equity 422,313 (2,629) 421,840 1,512 1,590
- -------------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholder's Equity $ 1,308,495 $ (90,731) $ 1,311,124 $ 41,512 $ 46,590
===============================================================================================================================
</TABLE>
A-32
<PAGE>
<TABLE>
<CAPTION>
MISSISSIPPI POWER COMPANY AND SUBSIDIARY
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
MISSISSIPPI MISSISSIPPI MISSISSIPPI
Consolidated Eliminations CORPORATE TRUST I
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
TOTAL OPERATING REVENUES $ 633,004 $ - $ 633,004 $ -
- -------------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES:
Operation --
Fuel 172,686 - 172,686 -
Purchased power from non-affiliates 40,080 - 40,080 -
Purchased power from affiliates 31,007 - 31,007 -
Other 125,291 - 125,291 -
Maintenance 47,085 - 47,085 -
Depreciation and amortization 49,206 - 49,206 -
Taxes other than income taxes 47,893 - 47,893 -
- -------------------------------------------------------------------------------------------------------------------------------
Total operating expenses 513,248 - 513,248
- -------------------------------------------------------------------------------------------------------------------------------
Operating Income 119,756 119,756
Other Income:
Interest income 273 (2,796) 273 2,796
Other, net 1,675 - 1,675 -
- -------------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 121,704 (2,796) 121,704 2,796
- -------------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 20,455 (2,796) 23,251 -
Interest on notes payable 2,750 - 2,750 -
Amortization of debt discount, premium and expense, net 1,432 - 1,432 -
Other interest charges 3,332 - 3,332 -
Distributions on preferred securities of subsidiary trust 2,796 - - 2,796
- -------------------------------------------------------------------------------------------------------------------------------
Net interest charges 30,765 (2,796) 30,765 2,796
- -------------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 90,939 - 90,939 -
Income taxes 34,117 - 34,117 -
- -------------------------------------------------------------------------------------------------------------------------------
Net Income 56,822 - 56,822 -
- -------------------------------------------------------------------------------------------------------------------------------
Dividends on Preferred Stock 2,013 - 2,013 -
- -------------------------------------------------------------------------------------------------------------------------------
NET INCOME AFTER DIVIDENDS ON PREFERRED STOCK $ 54,809 $ - $ 54,809 $ -
===============================================================================================================================
</TABLE>
A-33
<PAGE>
<TABLE>
<CAPTION>
MISSISSIPPI POWER COMPANY AND SUBSIDIARY
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
MISSISSIPPI MISSISSIPPI MISSISSIPPI
Consolidated Eliminations CORPORATE TRUST I
- --------------------------------------------------------------------------------------------------------------------------
Operating Activities:
<S> <C> <C> <C> <C>
Net Income $ 56,822 $ - $ 56,822 $ -
Adjustments to reconcile consolidated net income to net cash
provided by operating activities -
Depreciation and amortization 53,427 - 53,427 -
Deferred income taxes and investment tax credits, net (4,143) - (4,143) -
Other, net 5,531 - 5,531 -
Change in current assets and liabilities -
Receivables, net (39,304) - (39,304) -
Fossil fuel stock (9,379) - (9,379) -
Materials and supplies (1,903) - (1,903) -
Accounts payable 1,391 - 1,391 -
Other 14,206 - 14,206 -
- ---------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities 76,648 - 76,648 -
- ---------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (75,888) - (75,888) -
Other 1,009 - 1,009 -
- ---------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities (74,879) - (74,879) -
- ---------------------------------------------------------------------------------------------------------------------------
Financing Activities and Capital Contributions
Increase (decrease) in notes payable, net 44,500 - 44,500 -
Proceeds--
Other long-term debt 59,400 - 59,400 -
Capital contributions from parent company 2,028 - 2,028 -
Retirements--
First mortgage bonds (50,456) - (50,456) -
Payment of preferred stock dividends (2,013) - (2,013) -
Payment of common stock dividends (56,100) - (56,100) -
Other (282) - (282) -
- ---------------------------------------------------------------------------------------------------------------------------
Net cash used for financing activities (2,923) - (2,923) -
- ---------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents (1,154) - (1,154) -
Cash and Cash Equivalents at the Beginning of Period 1,327 - 1,327 -
- ---------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $ 173 $ - $ 173 $ -
===========================================================================================================================
</TABLE>
A-34
<PAGE>
<TABLE>
<CAPTION>
MISSISSIPPI POWER COMPANY AND SUBSIDIARY
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
MISSISSIPPI MISSISSIPPI MISSISSIPPI
Consolidated Eliminations CORPORATE TRUST I
- -----------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 173 $ - $ 173 $ -
Receivables -
Customer accounts receivable 61,274 - 61,274 -
Other accounts and notes receivable 23,490 - 23,490 -
Affiliated companies 16,097 - 16,097 -
Accumulated provision for uncollectible accts (697) - (697) -
Fossil fuel stock, at average cost 25,797 - 25,797 -
Materials and supplies, at average cost 20,638 - 20,638 -
Other 10,013 - 10,013 -
- -----------------------------------------------------------------------------------------------------------------------
Total current assets 156,785 - 156,785 -
- -----------------------------------------------------------------------------------------------------------------------
Property, Plant and Equipment 1,043,279 - 1,043,279 -
- -----------------------------------------------------------------------------------------------------------------------
Other Property and Investments 1,389 (37,164) 2,471 36,082
- -----------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 21,557 - 21,557 -
Prepaid pension costs 2,488 - 2,488 -
Debt expense, being amortized 4,355 - 4,355 -
Premium on reacquired debt, being amortized 8,154 - 8,154 -
Other 13,129 - 13,129 -
- -----------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 49,683 - 49,683 -
- -----------------------------------------------------------------------------------------------------------------------
Total Assets $ 1,251,136 $(37,164) $ 1,252,218 $36,082
=======================================================================================================================
</TABLE>
A-35
<PAGE>
<TABLE>
<CAPTION>
MISSISSIPPI POWER COMPANY AND SUBSIDIARY
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
MISSISSIPPI MISSISSIPPI MISSISSIPPI
Consolidated Eliminations CORPORATE TRUST I
- --------------------------------------------------------------------------------------------------------------------------
Current Liabilities
<S> <C> <C> <C> <C>
Securities due within one year $ 30,020 $ - $ 30,020 $ -
Notes payable 57,500 - 57,500 -
Accounts payable 60,107 - 60,107 -
Customer deposits 3,749 - 3,749 -
Taxes accrued 42,399 - 42,399 -
Interest accrued 6,733 - 6,733 -
Vacation pay accrued 5,218 - 5,218 -
Other 7,497 - 7,497 -
- --------------------------------------------------------------------------------------------------------------------------
Total current liabilities 213,223 - 213,223 -
- --------------------------------------------------------------------------------------------------------------------------
Long-term debt 321,802 - 321,802 -
- --------------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 139,564 - 139,564 -
Deferred credits related to income taxes 34,765 - 34,765 -
Accumulated deferred investment tax credits 24,695 - 24,695 -
Employee benefits provisions 34,268 - 34,268 -
Workforce reduction plan 11,272 - 11,272 -
Other 12,770 - 12,770 -
- --------------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 257,334 - 257,334 -
- --------------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily redeemable
preferred securities of subsidiary trust holding
company junior subordinated notes 35,000 - - 35,000
- --------------------------------------------------------------------------------------------------------------------------
Preferred stock 31,809 - 31,809 -
- --------------------------------------------------------------------------------------------------------------------------
Common stockholder's equity 391,968 (1,082) 391,968 1,082
- --------------------------------------------------------------------------------------------------------------------------
Total Liabilities and Stockholder's Equity $ 1,251,136 $(1,082) $ 1,216,136 $ 36,082
==========================================================================================================================
</TABLE>
A-36
<PAGE>
<TABLE>
<CAPTION>
SAVANNAH ELECTRIC AND POWER COMPANY AND SUBSIDIARY
CONSOLIDATED STATEMENT OF INCOME
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
SAVANNAH SAVANNAH SAVANNAH
Consolidated Eliminations CORPORATE TRUST I
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Total Operating Revenues $ 251,594 $ - $ 251,594 $ -
- ----------------------------------------------------------------------------------------------------------------------------
Operating Expenses:
Operation --
Fuel 50,530 - 50,530 -
Purchased power from non-affiliates 14,398 - 14,398 -
Purchase power from affiliates 33,398 - 33,398 -
Other 50,341 - 50,341 -
Maintenance 16,333 - 16,333 -
Depreciation and amortization 23,841 - 23,841 -
Taxes other than income taxes 12,690 - 12,690 -
- ----------------------------------------------------------------------------------------------------------------------------
Total operating expenses 201,531 - 201,531 -
- ----------------------------------------------------------------------------------------------------------------------------
Operating Income 50,063 50,063
Other Income (Expense):
Interest income 169 (2,825) 169 2,825
Other, net (663) - (663) -
- ----------------------------------------------------------------------------------------------------------------------------
Earnings Before Interest and Income Taxes 49,569 (2,825) 49,569 2,825
- ----------------------------------------------------------------------------------------------------------------------------
Interest Charges and Other:
Interest on long-term debt 9,300 (2,825) 12,125 -
Interest on notes payable 879 - 879 -
Amortization of debt discount, premium and expense, net 948 - 948 -
Other interest charges 811 - 811 -
Distributions on preferred securities of subsidiary trust 2,740 - - 2,740
- ----------------------------------------------------------------------------------------------------------------------------
Total interest charges and other, net 14,678 (2,825) 14,763 2,740
- ----------------------------------------------------------------------------------------------------------------------------
Earnings Before Income Taxes 34,891 - 34,806 85
Income taxes 11,808 - 11,808 -
- ----------------------------------------------------------------------------------------------------------------------------
Net Income 23,083 - 22,998 85
Dividends on Preferred Stock - - - -
- ----------------------------------------------------------------------------------------------------------------------------
Net Income After Dividends on Preferred Stock $ 23,083 $ - $ 22,998 $ 85
============================================================================================================================
</TABLE>
A-37
<PAGE>
<TABLE>
<CAPTION>
SAVANNAH ELECTRIC AND POWER COMPANY AND SUBSIDIARY
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 1999
(in thousands)
- ---------------------------------------------------------------------------------------------------------------------------------
SAVANNAH SAVANNAH SAVANNAH
Consolidated Eliminations CORPORATE TRUST I
- ---------------------------------------------------------------------------------------------------------------------------------
Operating Activities:
<S> <C> <C> <C> <C>
Net Income $ 23,083 $ - $ 22,998 $ 85
Adjustments to reconcile consolidated net income to net cash
provided by operating activities -
Depreciation and amortization 25,454 - 25,454 -
Deferred income taxes and investment tax credits, net (3,353) - (3,353) -
Other, net (47) - (47) -
Change in certain current assets and liabilities - 0
Receivables, net (5,999) 85 (5,999) (85)
Fossil fuel stock (2,125) - (2,125) -
Material and supplies (1,906) - (1,906) -
Accounts payable 1,133 (85) 1,218 -
Other 1,731 - 1,731 -
- ---------------------------------------------------------------------------------------------------------------------------------
Net cash provided from operating activities 37,971 - 37,971 -
- ---------------------------------------------------------------------------------------------------------------------------------
Investing Activities:
Gross property additions (29,833) - (29,833) -
Other (1,715) - (2,952) -
- ---------------------------------------------------------------------------------------------------------------------------------
Net cash used for investing activities (31,548) - (32,785) -
- ---------------------------------------------------------------------------------------------------------------------------------
Financing Activities:
Increase (decrease) in notes payable, net 34,300 - 34,300 -
Proceeds--
Capital contribution from parent company 1,099 - 1,099 -
Retirements--
First mortgage bonds (15,800) - (15,800) -
Other long-term debt (481) - (481) -
Payment of common stock dividends (25,200) - (25,200) -
Other 250 - 250 -
- ---------------------------------------------------------------------------------------------------------------------------------
Net cash used for financing activities (5,832) - (5,832) -
- ---------------------------------------------------------------------------------------------------------------------------------
Net Change in Cash and Cash Equivalents 591 - 591 -
Cash and Cash Equivalents at Beginning of Period 5,962 - 5,962 -
- ---------------------------------------------------------------------------------------------------------------------------------
Cash and Cash Equivalents at End of Period $6,553 $ - $ 6,553 $ -
=================================================================================================================================
</TABLE>
A-38
<PAGE>
<TABLE>
<CAPTION>
SAVANNAH ELECTRIC AND POWER COMPANY AND SUBSIDIARY
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
SAVANNAH SAVANNAH SAVANNAH
Consolidated Eliminations CORPORATE TRUST I
- ---------------------------------------------------------------------------------------------------------------------------
Current Assets:
<S> <C> <C> <C> <C>
Cash and cash equivalents $ 6,553 $ - $ 6,553 $ -
Receivables -
Customer accounts receivable 20,752 - 20,752 -
Unrecovered retail fuel clause revenue 21,089 - 21,089 -
Other accounts and notes receivable 3,505 (90) 3,505 90
Affiliated companies 1,195 - 1,195 -
Accumulated provision for uncollectible accts (237) - (237) -
Fossil fuel stock, at average cost 7,109 - 7,109 -
Materials and supplies, at average cost 8,402 - 8,402 -
Prepayments 2,869 2,869 -
- ---------------------------------------------------------------------------------------------------------------------------
Total current assets 71,237 (90) 71,237 90
- ---------------------------------------------------------------------------------------------------------------------------
Property, Plant, and Equipment 450,018 - 450,018 -
- ---------------------------------------------------------------------------------------------------------------------------
Other Property and Investments 1,506 (42,474) 2,743 41,237
- ---------------------------------------------------------------------------------------------------------------------------
Deferred Charges and Other Assets:
Deferred charges related to income taxes 16,063 - 16,063 -
Cash surrender value of life insurance for deferred
compensation plans 16,305 - 16,305 -
Prepaid pension costs 1,201 - 1,201 -
Debt expense, being amortized 3,155 - 3,155 -
Premium on reacquired debt, being amortized 8,385 - 8,385 -
Other 2,348 - 2,348 -
- ---------------------------------------------------------------------------------------------------------------------------
Total deferred charges and other assets 47,457 - 47,457 -
- ---------------------------------------------------------------------------------------------------------------------------
Total Assets $ 570,218 $(42,564) $ 571,455 $ 41,327
===========================================================================================================================
</TABLE>
A-39
<PAGE>
<TABLE>
<CAPTION>
SAVANNAH ELECTRIC AND POWER COMPANY AND SUBSIDIARY
CONSOLIDATED BALANCE SHEET
AT DECEMBER 31, 1999
(in thousands)
SAVANNAH SAVANNAH SAVANNAH
Consolidated Eliminations CORPORATE TRUST I
- ---------------------------------------------------------------------------------------------------------------------
Current Liabilities:
<S> <C> <C> <C> <C>
Securities due within one year $ 704 $ - $ 704 $ -
Notes payable 34,300 - 34,300 -
Accounts payable 15,750 - 15,750 -
Customer deposits 5,426 - 5,426 -
Taxes accrued 6,059 - 6,059 -
Interest accrued 3,237 (90) 3,327 -
Vacation pay accrued 2,142 - 2,142 -
Other 5,742 - 5,742 -
- ---------------------------------------------------------------------------------------------------------------------
Total current liabilities 73,360 (90) 73,450 -
- ---------------------------------------------------------------------------------------------------------------------
Long-term debt 147,147 (41,237) 188,384
- ---------------------------------------------------------------------------------------------------------------------
Deferred Credits and Other Liabilities:
Accumulated deferred income taxes 80,318 - 80,318 -
Deferred credits related to income taxes 19,687 - 19,687 -
Accumulated deferred investment tax credits 11,280 - 11,280 -
Deferred compensation plans 10,624 - 10,624 -
Employee benefits provisions 7,805 - 7,805 -
Other 5,150 - 5,150 -
- ---------------------------------------------------------------------------------------------------------------------
Total deferred credits and other liabilities 134,864 - 134,864 -
- ---------------------------------------------------------------------------------------------------------------------
Company obligated mandatorily
redeemable preferred securities 40,000 - - 40,000
- ---------------------------------------------------------------------------------------------------------------------
Common stockholder's equity 174,847 (1,237) 174,757 1,327
- ---------------------------------------------------------------------------------------------------------------------
TOTAL CAPITALIZATION AND LIABILITIES $ 570,218 $ (42,564) $ 571,455 $ 41,327
=====================================================================================================================
</TABLE>
A-40
<PAGE>
<TABLE>
<CAPTION>
EXHIBITS.
Exhibits (including reference to previous filings):
Exhibit
Number Description of Exhibit
<S> <C>
A-1 Annual Report of SOUTHERN on Form 10-K for the year ended December 31, 1999. (File No. 1-3526.)
A-2 Annual Report of ALABAMA on Form 10-K for the year ended December 31, 1999. (File No. 1-3164.)
A-3 Annual Report of GEORGIA on Form 10-K for the year ended December 31, 1999. (File No. 1-6468.)
A-4 Annual Report of GULF on Form 10-K for the year ended December 31, 1999. (File No. 0-2429.)
A-5 Annual Report of MISSISSIPPI on Form 10-K for the year ended December 31, 1999. (File No.
0-6849.)
A-6 Annual Report of SAVANNAH on Form 10-K for the year ended December 31, 1999. (File No. 1-5072.)
A-7 Annual Report on Form U-13-60 for SEI for the year ended December 31, 1999.
A-8 Current Report on Form 8-K of SOUTHERN dated April 17, 2000. (File No. 1-3526.)
B-1 Composite Certificate of Incorporation of SOUTHERN, reflecting all amendments thereto through
January 5, 1994. (Designated in Registration No. 33-3546, as Exhibit 4(a), in Certificate of
Notification, File No. 70-7341, as Exhibit A and in Certificate of Notification, File No.
70-8181, as Exhibit A.)
B-2 By-laws of SOUTHERN as amended effective October 21, 1991, and as presently in effect.
(Designated in Form U-1, File No. 70-8181, as Exhibit A-2.)
B-3 Charter of ALABAMA and amendments thereto through August 10, 1998. (Designated in Registration
No. 2-59634 as Exhibit 2(b), in Registration No. 2-60209 as Exhibit 2(c), in Registration No.
2-60484 as Exhibit 2(b), in Registration No. 2-70838 as Exhibit 4(a)-2, in Registration No.
2-85987 as Exhibit 4(a)-2, in Registration No. 33-25539 as Exhibit 4(a)-2, in Registration No.
33-43917 as Exhibit 4(a)-2, in Form 8-K dated February 5, 1992, File No. 1-3164, as Exhibit
4(b)-3, in Form 8-K dated July 8, 1992, File No. 1-3164, as Exhibit 4(b)-3, in Form 8-K dated
October 27, 1993, File No. 1-3164, as Exhibits 4(a) and 4(b), in Form 8-K dated November 16,
1993, File No. 1-3164, as Exhibit 4(a), in Certificate of Notification, File No. 70-8191, as
Exhibit A, in Form 10-K for the year ended December 31, 1997, File No. 1-3164, as Exhibit 3(b)2
and in Form 8-K dated August 10, 1998, File No. 1-3164, as Exhibit 4.4.)
B-4 By-laws of ALABAMA as amended effective July 23, 1993, and as presently in effect. (Designated
in Form U-1, File No. 70-8191, as Exhibit A-2.)
A-41
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-5 Charter of GEORGIA and amendments thereto through January 26, 1998. (Designated in Registration
No. 2-63392 as Exhibit 2(a)-2, in Registration No. 2-78913 as Exhibits 4(a)-(2) and 4(a)-(3), in
Registration No. 2-93039 as Exhibit 4(a)-(2), in Registration No. 2-96810 as Exhibit 4(a)(2), in
Registration No. 33-141 as Exhibit 4(a)(2), in Registration No. 33-1359 as Exhibit 4(a)(2), in
Registration No. 33-5405 as Exhibit 4(b)(2), in Registration No. 33-14367 as Exhibits 4(b)-2 and
4(b)-3, in Registration No. 33-22504 as Exhibits 4(b)-(2), 4(b)-(3) and 4(b)-(4), in GEORGIA's
Form 10-K for the year ended December 31, 1991, File No. 1-6468, as Exhibits 4(a)(2) and
4(a)(3), in Registration No. 33-48895, as Exhibits 4(b)-(2) and 4(b)-(3), in Form 8-K dated
December 10, 1992, File No. 1-6468, as Exhibit 4(b), in Form 8-K dated June 17, 1993, File No.
1-6468, as Exhibit 4(b), in Form 8-K dated October 20, 1993, File No. 1-6468, as Exhibit 4(b)
and in Form 10-K for the year ended December 31, 1997, File No. 1-6468, as Exhibit 3(c)2.)
B-6 By-laws of GEORGIA as amended effective July 18,
1990, and as presently in effect. (Designated in
GEORGIA's Form 10-K for the year ended December
31, 1990, File No. 1-6468, as Exhibit 3.)
B-7 Restated Articles of Incorporation of GULF and amendments thereto through January 28, 1998.
(Designated in Registration No. 33-43739 as Exhibit 4(b)-(1), in Form 8-K dated January 15,
1992, File No. 0-2429, as Exhibit 1(b), in Form 8-K dated August 18, 1992, File No. 0-2429, as
Exhibit 4(b)-2, in Form 8-K dated September 22, 1993, File No. 0-2429, as Exhibit 4, in Form 8-K
dated November 3, 1993, File No. 0-2429, as Exhibit 4 and in Form 10-K for the year ended
December 31, 1997, File No. 0-2429, as Exhibit 3(d)2.)
B-8 By-laws of GULF as amended effective July 26, 1996, and as presently in effect. (Designated in
Form U-1, File No. 70-8949, as Exhibit A-2(c).)
B-9 Articles of incorporation of MISSISSIPPI, articles of merger of Mississippi Power Company (a
Maine corporation) into MISSISSIPPI and articles of amendment to the articles of incorporation
of MISSISSIPPI through December 31, 1997. (Designated in Registration No. 2-71540 as Exhibit
4(a)-1, in Form U5S for 1987, File No. 30-222-2, as Exhibit B-10, in Registration No. 33-49320
as Exhibit 4(b)-1, in Form 8-K dated August 5, 1992, File No. 0-6849, as Exhibits 4(b)-2 and
4(b)-3 in Form 8-K dated August 4, 1993, File No. 0-6849, as Exhibit 4(b)-3, in Form 8-K dated
August 18, 1993, File No. 0-6849, as Exhibit 4(b)-3 and in Form 10-K for the year ended December
31, 1997, File No. 0-6849, as Exhibit 3(e)2.)
B-10 By-laws of MISSISSIPPI as amended effective April 2, 1996, and as presently in effect.
(Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit B-10.)
B-11 Charter of SAVANNAH and amendments thereto through December 2, 1998. (Designated in
Registration No. 33-25183 as Exhibit 4(b)-(1), in Registration No. 33-45757 as Exhibit 4(b)-(2),
in Form 8-K dated November 9, 1993, File No. 1-5072 as Exhibit 4(b) and in Form 10-K for the
year ended December 31, 1998, File No. 1-5072, as Exhibit 3(f)2.)
A-42
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-12 By-laws of SAVANNAH as amended effective February
16, 1994, and as presently in effect. (Designated
in SAVANNAH's Form 10-K for the year ended
December 31, 1993, File No. 1-5072, as Exhibit
3(f)2.)
B-13 SEGCO Certificate of Incorporation as amended to date, last amended November 29, 1966.
(Designated in Forms U-1, File No. 70-3480, as Exhibit A-5, File No. 70-3630, as Exhibit A-6,
File Nos. 70-3738 and 70-3842, as Exhibit A-8(b); Registration No. 2-18084 as Exhibit 3(a)-2 and
First Certificate of Notification, File No. 70-3945, as Exhibit A.)
B-14 SEGCO By-laws as amended to date, last amended
July 10, 1986. (Designated in Form U5S for the
year ended December 31, 1990, as Exhibit B-14.)
B-15 SCS Certificate of Incorporation as amended. (Designated in Form U-1, File No. 70-3573, as
Exhibit A-1; in Form U-1, File No. 70-3833, as Exhibit A-2; Form U5S for 1962, File No.
30-222-2, as Exhibit A-17; and Form U5S for 1985, File No. 30-222-2, as Exhibit B-13(b).)
B-16 SCS By-laws as amended to date, last amended October 19, 1998. (Designated in Form U5S for
1998, File No. 30-222-2, as Exhibit B-16.)
B-17 Alabama Property Company Certificate of Incorporation. (Designated in Form U-5B, File No.
30-115, as Exhibit B-29.)
B-18 Alabama Property Company By-laws. (Designated in Form U-5B, File No. 30-115, as Exhibit B-30.)
B-19 Piedmont-Forrest Corporation Articles of Incorporation and amendments thereto through August 31,
1987. (Designated in Form U-1, File No. 70-6135, as Exhibit A-1 and in Form U5S for 1987, File
No. 30-222-2, as Exhibit B-21.)
B-20 Piedmont-Forrest Corporation By-laws as presently in effect. (Designated in Form U-1, File No.
70-6135, as Exhibit A-2.)
B-21 Articles of Incorporation of Southern Energy Resources, Inc. and amendments thereto.
(Designated in Form U5S for 1982, File No. 30-222-2, as Exhibit A-19, in Form U5S for 1987, File
No. 30-222-2, as Exhibit B-24, in Form U5S for 1996, File No. 30-222-2, as Exhibit B-22 and in
Form U5S for 1998, File No. 30-222-2, as Exhibit B-22.)
B-22 By-laws of Southern Energy Resources, Inc. as amended to date, last amended October 19, 1998.
(Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit B-23.)
B-23 Articles of Incorporation of MESH and amendments thereto. (Designated in Form U5S for 1995, File
No. 30-222-2, as Exhibit B-23.)
A-43
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-24 By-laws of MESH. (Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit B-24.)
B-25 Articles of Incorporation of Energy Solutions and amendments thereto through March 25, 1993.
(Designated in Form U5S for 1985, File No. 30-222-2, as Exhibit B-23 , in Form U5S for 1987,
File No. 30-222-2, as Exhibit B-27 and in Form U5S for 1993, File No. 30-222-2, as Exhibit B-25.)
B-26 By-laws of Energy Solutions. (Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit
B-27.)
B-27 By-laws of SOUTHERN NUCLEAR as amended to date, last amended May 21, 1991. (Designated in Form
U5S for 1991, File No. 30-222-2, as Exhibit B-27 and in Form U5S for 1997, File No. 30-222-2, as
Exhibit B-28.)
B-28 Articles of Incorporation of SOUTHERN NUCLEAR and amendment thereto through June 14, 1991.
(Designated in Form U5S for 1991, File No. 30-222-2, as Exhibit B-28.)
B-29 Certificate of Incorporation of SERC. (Designated in Form U5S for 1993, File No. 30-222-2, as
Exhibit B-30.)
B-30 By-laws of SERC. (Designated in Form U5S for 1993, File No. 30-222-2, as Exhibit B-31.)
B-31 Certificate of Incorporation of SOUTHERN COMMUNICATIONS. (Designated in Form U5S for 1994, File
No. 30-222-2, as Exhibit B-31)
B-32 By-laws of SOUTHERN COMMUNICATIONS. (Designated in Form U5S for 1994, File No. 30-222-2, as
Exhibit B-32)
B-33 Certificate of Incorporation of Southern Energy, Inc. as amended to date, last amended December
30, 1997. (Designated in Form U5S for 1993, File No. 30-222-2, as Exhibit B-32 and in Form U5S
for 1998, File No. 30-222-2, as Exhibit B-35.)
B-34 By-laws of Southern Energy, Inc. (Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit
B-36.)
B-35 Certificate of Incorporation of Southern Electric International - Europe, Inc. and amendments
thereto. (Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit B-37.)
B-36 By-laws of Southern Electric International - Europe, Inc. (Designated in Form U5S for 1995, File
No. 30-222-2, as Exhibit B-38.)
B-37 Certificate of Incorporation of Southern Energy North America, Inc. (Designated in Form U5S for
1993, File No. 30-222-2, as Exhibit B-38.)
A-44
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-38 Certificate of Amendment of Certificate of Incorporation of Southern Electric Wholesale
Generators, Inc. changing name to Southern Energy North America Inc. (Designated in Form U5S for
1996, File No. 30-222-2, as Exhibit B-41.)
B-39 By-laws of Southern Energy North America, Inc. (Designated in Form U5S for 1993, File No.
30-222-2, as Exhibit B-39.)
B-40 Certificate of Incorporation of Southern Electric International Trinidad, Inc. and amendments
thereto. (Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit B-43.)
B-41 By-laws of Southern Electric International Trinidad, Inc. (Designated in Form U5S for 1995, File
No. 30-222-2, as Exhibit B-44.)
B-41 Articles of Organization of MESCO and amendments thereto. (Designated in Form U5S for 1995, File
No. 30-222-2, as Exhibit B-49.)
B-42 Operating Agreement of MESCO. (Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit
B-50.)
B-43 Certificate of Incorporation of Southern Electric, Inc. (Designated in Form U5S for 1994, File
No. 30-222-2, as Exhibit B-51)
B-44 By-laws of Southern Electric, Inc. (Designated in Form U5S for 1994, File No. 30-222-2, as
Exhibit B-52)
B-45 Certificate of Incorporation of GEORGIA POWER HOLDINGS. (Designated in Form U5S for 1994, File
No. 30-222-2, as Exhibit B-53)
B-46 By-laws of GEORGIA POWER HOLDINGS. (Designated in Form U5S for 1994, File No. 30-222-2, as
Exhibit B-54)
B-47 Certificate of Limited Partnership of GEORGIA CAPITAL. (Designated in Form U5S for 1994, File
No. 30-222-2, as Exhibit B-55)
B-48 Amended and Restated Agreement of Limited Partnership of GEORGIA CAPITAL. (Designated in Form
U5S for 1994, File No. 30-222-2, as Exhibit B-56)
B-49 Action of General Partner of GEORGIA CAPITAL dated December 9, 1994. (Designated in Form U5S
for 1994, File No. 30-222-2, as Exhibit B-57)
B-50 Certificate of Incorporation of Southern Energy International, Inc. and amendments thereto.
(Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit B-58 and in Form U5S for 1997,
File No. 30-222-2, as Exhibit B-61)
A-45
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-51 By-laws of Southern Energy International, Inc. (Designated in Form U5S for 1996, File No.
30-222-2, as Exhibit B-62.)
B-52 Certificate of Incorporation of Southern Energy - Newco 2, Inc. and amendments thereto.
(Designated in Form U5S for 1995, File No. 30-222-2, as Exhibit B-60 and in Form U5S for 1996,
File No. 30-222-2, as Exhibit B-64.)
B-53 By-laws of Southern Energy - Newco 2, Inc. (Designated in Form U5S for 1996, File No. 30-222-2,
as Exhibit B-65.)
B-54 By-Laws of Southern Energy Finance Company, Inc. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-57.)
B-55 Certificate of Incorporation of EPZ Lease, Inc. (Designated in Form U5S for 1996, File No.
30-222-2, as Exhibit B-67.)
B-56 By-laws of EPZ Lease, Inc. (Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit B-59.)
B-57 Certificate of Formation of EPZ Lease, L.L.C. (Designated in Form U5S for 1996, File No.
30-222-2, as Exhibit B-69.)
B-58 Certificate of Formation of EPZ Lease Holding A, L.L.C. (Designated in Form U5S for 1996, File
No. 30-222-2, as Exhibit B-70.)
B-59 Articles of Organization of EPZ Lease Holding A, L.L.C. (Designated in Form U5S for 1996, File
No. 30-222-2, as Exhibit B-71.)
B-60 Certificate of Formation of EPZ Lease Holding B, L.L.C. (Designated in Form U5S for 1996, File
No. 30-222-2, as Exhibit B-72.)
B-61 Articles of Organization of EPZ Lease Holding B, L.L.C. (Designated in Form U5S for 1996, File
No. 30-222-2, as Exhibit B-73.)
B-62 Certificate of Formation of EPZ Lease Holding C, L.L.C. (Designated in Form U5S for 1996, File
No. 30-222-2, as Exhibit B-74.)
B-63 Articles of Organization of EPZ Lease Holding C, L.L.C. (Designated in Form U5S for 1996, File
No. 30-222-2, as Exhibit B-75.)
B-64 Certificate of Incorporation of Southern Energy Ventures, Inc. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-67.)
B-65 By-laws of Southern Energy Ventures, Inc. (Designated in Form U5S for 1998, File No. 30-222-2,
as Exhibit B-68.)
B-66 Certificate of Incorporation of Southern Energy Southwest Investments, Inc. (Designated in Form
U5S for 1998, File No. 30-222-2, as Exhibit B-69.)
A-46
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-67 By-laws of Southern Energy Southwest Investments, Inc. (Designated in Form U5S for 1998, File
No. 30-222-2, as Exhibit B-70.)
B-68 Certificate of Incorporation of Southern Energy Texas (G.P.), Inc. (Designated in Form U5S for
1998, File No. 30-222-2, as Exhibit B-71.)
B-69 By-laws of Southern Energy Texas (G.P.), Inc. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-72.)
B-70 Certificate of Incorporation of Southern Energy Hudson Valley Investments, LTD. (Designated in
Form U5S for 1998, File No. 30-222-2, as Exhibit B-73.)
B-71 By-Laws of Southern Energy Hudson Valley Investments, LTD. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-74.)
B-72 Certificate of Incorporation of Southern Energy New York G.P., Inc. (Designated in Form U5S for
1998, File No. 30-222-2, as Exhibit B-75.)
B-73 By-Laws of Southern Energy New York G.P., Inc. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-76.)
B-74 Certificate of Limited Partnership of SEI Texas, L.P. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-77.)
B-75 Certificate of Incorporation of Southern Energy California, Inc. (Designated in Form U5S for
1998, File No. 30-222-2, as Exhibit B-78.)
B-76 By-Laws of Southern Energy California, Inc. (Designated in Form U5S for 1998, File No. 30-222-2,
as Exhibit B-79.)
B-77 Certificate of Formation of Southern Energy California, L.L.C. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-80.)
B-78 Certificate of Incorporation of Southern Energy Bay Area Investments, Inc. (Designated in Form
U5S for 1998, File No. 30-222-2, as Exhibit B-81.)
B-79 By-Laws of Southern Energy Bay Area Investments, Inc. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-82.)
B-80 By-Laws of SEI State Line Inc. (Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit
B-83.)
B-81 Certificate of Incorporation of Southern Energy Europe Investments, Inc. (Designated in Form U5S
for 1998, File No. 30-222-2, as Exhibit B-84.)
B-82 By-Laws of Southern Energy Europe Investments, Inc. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-85.)
A-47
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
B-83 Certificate of Formation of Southern Energy Lovett, L.L.C. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-86.)
B-84 Certificate of Formation of Southern Energy Bowline, L.L.C. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-87.)
B-85 Certificate of Incorporation of Southern Energy Netherlands, LTD. and amendments thereto.
(Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit B-88.)
B-86 By-Laws of Southern Energy Netherlands, LTD. (Designated in Form U5S for 1998, File No.
30-222-2, as Exhibit B-89.)
B-87 Certificate of Incorporation of Southern Energy Netherlands Management Company, Inc.
(Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit B-90.)
B-88 By-Laws of Southern Energy Netherlands Management Company, Inc. (Designated in Form U5S for
1998, File No. 30-222-2, as Exhibit B-91.)
B-89 By-Laws of Southern Energy - Asia, Inc. (Designated in Form U5S for 1998, File No. 30-222-2, as
Exhibit B-92.)
B-90 By-Laws of Powercall, Inc. (Designated in Form U5S for 1998, File No. 30-222-2, as Exhibit B-93.)
B-91 By-Laws of Southern Telecom, Inc. (Designated in Form U5S for 1998, File No. 30-222-2, as
Exhibit B-94.)
B-92 Certificate of Formation of Southern Energy Canal III, L.L.C. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-95.)
B-93 Certificate of Limited Partnership of Southern Energy Central Texas, L.P. (Designated in Form
U5S for 1998, File No. 30-222-2, as Exhibit B-96.)
B-94 Certificate of Formation of Southern Energy NY-GEN, L.L.C. (Designated in Form U5S for 1998,
File No. 30-222-2, as Exhibit B-97.)
C-1 Subordinated Note Indenture dated as of February 1, 1997, among SOUTHERN, Southern Company
Capital Funding, Inc. and Bankers Trust Company, as Trustee, and indentures supplemental thereto
dated as of February 4, 1997. (Designated in Registration Nos. 333-28349 as Exhibits 4.1 and
4.2 and 333-28355 as Exhibit 4.2.)
A-48
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
C-2 Subordinated Note Indenture dated as of June 1,
1997, among SOUTHERN, Southern Company Capital
Funding, Inc. and Bankers Trust Company, as
Trustee, and indentures supplemental thereto
through of December 23, 1998. (Designated in Form
10-K for the year ended December 31, 1997, File
No. 1-3526, as Exhibit 4(a)2, in Form 8-K dated
June 18, 1998, File No. 1-3526, as Exhibit 4.2
and in Form 8-K dated December 18, 1998, File No.
1-3526, as Exhibit 4.4.)
C-3 Indenture dated as of January 1, 1942, between ALABAMA and The Chase Manhattan Bank (formerly
Chemical Bank), as Trustee, and indentures supplemental thereto through December 1, 1994.
(Designated in Registration Nos. 2-59843 as Exhibit 2(a)-2, 2-60484 as Exhibits 2(a)-3 and
2(a)-4, 2-60716 as Exhibit 2(c), 2-67574 as Exhibit 2(c), 2-68687 as Exhibit 2(c), 2-69599 as
Exhibit 4(a)-2, 2-71364 as Exhibit 4(a)-2, 2-73727 as Exhibit 4(a)-2, 33-5079 as Exhibit 4(a)-2,
33-17083 as Exhibit 4(a)-2, 33-22090 as Exhibit 4(a)-2, in ALABAMA's Form 10-K for the year
ended December 31, 1990, File No. 1-3164, as Exhibit 4(c), in Registration Nos. 33-43917 as
Exhibit 4(a)-2, 33-45492 as Exhibit 4(a)-2, 33-48885 as Exhibit 4(a)-2, 33-48917 as Exhibit
4(a)-2, in Form 8-K dated January 20, 1993, File No. 1-3436, as Exhibit 4(a)-3, in Form 8-K
dated February 17, 1993, File No. 1-3436, as Exhibit 4(a)-3, in Form 8-K dated March 10, 1993,
File No. 1-3436, as Exhibit 4(a)-3, in Certificate of Notification, File No. 70-8069, as
Exhibits A and B, in Form 8-K dated June 24, 1993, File No. 1-3436, as Exhibit 4, in Certificate
of Notification, File No. 70-8069, as Exhibit A, in Form 8-K dated November 16, 1993, File No.
1-3436, as Exhibit 4(b), in Certificate of Notification, File No. 70-8069, as Exhibits A and B,
in Certificate of Notification, File No. 70-8069, as Exhibit A, in Certificate of Notification,
File No. 70-8069, as Exhibit A and in Form 8-K dated November 30, 1994, File No. 1-3436, as
Exhibit 4.)
C-4 Subordinated Note Indenture dated as of January
1, 1996, between ALABAMA and The Chase Manhattan
Bank (formerly Chemical Bank), as Trustee, and
indenture supplemental thereto dated as of
January 1, 1996. (Designated in Certificate of
Notification, File No. 70-8461, as Exhibits E and
F.)
C-5 Subordinated Note Indenture dated as of January
1, 1997, between ALABAMA and The Chase Manhattan
Bank, as Trustee, and indentures supplemental
thereto through February 25, 1999. (Designated in
Form 8-K dated January 9, 1997, File No. 1-3164,
as Exhibits 4.1 and 4.2 and in Form 8-K dated
February 18, 1999, File No. 1-3164, as Exhibit
4.2.)
C-6 Senior Note Indenture dated as of December 1, 1997, between ALABAMA and The Chase Manhattan
Bank, as Trustee, and indentures supplemental thereto through September 30, 1999. (Designated
in Form 8-K dated December 4, 1997, File No. 1-3164, as Exhibits 4.1 and 4.2, in Form 8-K dated
February 20, 1998, File No. 1-3164, as Exhibit 4.2, in Form 8-K dated April 17, 1998, File No.
1-3164, as Exhibit 4.2, in Form 8-K dated August 11, 1998, File No. 1-3164, as Exhibit 4.2, in
Form 8-K dated September 8, 1998, File No. 1-3164, as Exhibit 4.2, in Form 8-K dated September
16, 1998, File
A-49
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
No. 1-3164, as Exhibit 4.2, in Form 8-K dated October 7, 1998, File No. 1-3164, as Exhibit 4.2,
in Form 8-K dated October 28, 1998, File No. 1-3164, as Exhibit 4.2, in Form 8-K dated November
12, 1998, File No. 1-3164, as Exhibit 4.2, in Form 8-K dated May 19, 1999, File No. 1-3164, as
Exhibit 4.2, in Form 8-K dated August 13, 1999, File No. 1-3164, as Exhibit 4.2 and in Form 8-K
dated September 21, 1999, File No. 1-3164, as Exhibit 4.2.)
C-7 Indenture dated as of March 1, 1941, between GEORGIA and The Chase Manhattan Bank (formerly
Chemical Bank), as Trustee, and indentures supplemental thereto dated as of March 1, 1941, March
3, 1941 (3 indentures), March 6, 1941 (139 indentures), March 1, 1946 (88 indentures) and
December 1, 1947, through October 15, 1995. (Designated in Registration Nos. 2-4663 as Exhibits
B-3 and B-3(a), 2-7299 as Exhibit 7(a)-2, 2-61116 as Exhibit 2(a)-3 and 2(a)-4, 2-62488 as
Exhibit 2(a)-3, 2-63393 as Exhibit 2(a)-4, 2-63705 as Exhibit 2(a)-3, 2-68973 as Exhibit 2(a)-3,
2-70679 as Exhibit 4(a)-(2), 2-72324 as Exhibit 4(a)-2, 2-73987 as Exhibit 4(a)-(2), 2-77941 as
Exhibits 4(a)-(2) and 4(a)-(3), 2-79336 as Exhibit 4(a)-(2), 2-81303 as Exhibit 4(a)-(2),
2-90105 as Exhibit 4(a)-(2), 33-5405 as Exhibit 4(a)-(2), 33-14367 as Exhibits 4(a)-(2) and
4(a)-(3), 33-22504 as Exhibits 4(a)-(2), 4(a)-(3) and 4(a)-(4), 33-32420 as Exhibit 4(a)-(2),
33-35683 as Exhibit 4(a)-(2), in GEORGIA's Form 10-K for the year ended December 31, 1990, File
No. 1-6468, as Exhibit 4(a)(3), in Form 10-K for the year ended December 31, 1991, File No.
1-6468, as Exhibit 4(a)(5), in Registration No. 33-48895 as Exhibit 4(a)-(2), in Form 8-K dated
August 26, 1992, File No. 1-6468, as Exhibit 4(a)-(3), in Form 8-K dated September 9, 1992, File
No. 1-6468, as Exhibits 4(a)-(3) and 4(a)-(4), in Form 8-K dated September 23, 1992, File No.
1-6468, as Exhibit 4(a)-(3), in Form 8-A dated October 12, 1992, as Exhibit 2(b), in Form 8-K
dated January 27, 1993, File No. 1-6468, as Exhibit 4(a)-(3), in Registration No. 33-49661 as
Exhibit 4(a)-(2), in Form 8-K dated July 26, 1993, File No. 1-6468, as Exhibit 4, in Certificate
of Notification, File No. 70-7832, as Exhibit M, in Certificate of Notification, File No.
70-7832, as Exhibit C, in Certificate of Notification, File No. 70-7832, as Exhibits K and L, in
Certificate of Notification, File No. 70-8443, as Exhibit C, in Certificate of Notification,
File No. 70-8443, as Exhibit C, in Certificate of Notification, File No. 70-8443, as Exhibit E,
in Certificate of Notification, File No. 70-8443, as Exhibit E, in Certificate of Notification,
File No. 70-8443, as Exhibit E, in GEORGIA's Form 10-K for the year ended December 31, 1994,
File No. 1-6468, as Exhibits 4(c)2 and 4(c)3, in Certificate of Notification, File No. 70-8443,
as Exhibit C, in Certificate of Notification, File No. 70-8443, as Exhibit C, in Form 8-K dated
May 17, 1995, File No. 1-6468, as Exhibit 4 and in GEORGIA's Form 10-K for the year ended
December 31, 1995, File No. 1-6468, as Exhibits 4(c)2, 4(c)3, 4(c)4, 4(c)5 and 4(c)6.)
C-8 Indenture dated as of December 1, 1994, between
GEORGIA and Trust Company Bank, as Trustee and
indenture supplemental thereto dated December 15,
1994. (Designated in Certificate of Notification,
File No. 70-8461 as Exhibits E and F.)
A-50
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
C-9 Subordinated Note Indenture dated as of August 1,
1996, between GEORGIA and The Chase Manhattan
Bank, as Trustee, and indentures supplemental
thereto through January 1, 1997. (Designated in
Form 8-K dated August 21, 1996, File No. 1-6468,
as Exhibits 4.1 and 4.2 and in Form 8-K dated
January 9, 1997, File No. 1-6468, as Exhibit
4.2.)
C-10 Subordinated Note Indenture dated as of June 1,
1997, between GEORGIA and The Chase Manhattan
Bank, as Trustee, and indentures supplemental
thereto through February 25, 1999. (Designated in
Certificate of Notification, File No. 70-8461, as
Exhibits D and E and in Form 8-K dated February
17, 1999, File No. 1-6468, as Exhibit 4.4.)
C-11 Senior Note Indenture dated as of January 1,
1998, between GEORGIA and The Chase Manhattan
Bank, as Trustee, and indentures supplemental
thereto through February 22, 2000. (Designated in
Form 8-K dated January 21, 1998, File No. 1-6468,
as Exhibits 4.1 and 4.2, in Forms 8-K each dated
November 19, 1998, File No. 1-6468, as Exhibit
4.2, in Form 8-K dated March 3, 1999, File No.
1-6468, as Exhibit 4.5 and in Form 8-K dated
February 15, 2000, File No. 1-6468 as Exhibit
4.2.)
C-12 Indenture dated as of September 1, 1941, between GULF and The Chase Manhattan Bank (formerly The
Chase Manhattan Bank (National Association)), as Trustee, and indentures supplemental thereto
through November 1, 1996. (Designated in Registration Nos. 2-4833 as Exhibit B-3, 2-62319 as
Exhibit 2(a)-3, 2-63765 as Exhibit 2(a)-3, 2-66260 as Exhibit 2(a)-3, 33-2809 as Exhibit 4(a)-2,
33-43739 as Exhibit 4(a)-2, in GULF's Form 10-K for the year ended December 31, 1991, File No.
0-2429, as Exhibit 4(b), in Form 8-K dated August 18, 1992, File No. 0-2429, as Exhibit 4(a)-3,
in Registration No. 33-50165 as Exhibit 4(a)-2, in Form 8-K dated July 12, 1993, File No.
0-2429, as Exhibit 4, in Certificate of Notification, File No. 70-8229, as Exhibit A, in
Certificate of Notification, File No. 70-8229, as Exhibits E and F, in Form 8-K dated January
17, 1996, File No. 0-2429, as Exhibit 4, in Certificate of Notification, File No. 70-8229, as
Exhibit A, in Certificate of Notification, File No. 70-8229, as Exhibit A and in Form 8-K dated
November 6, 1996, File No. 0-2429, as Exhibit 4.)
C-13 Subordinated Note Indenture dated as of January
1, 1997, between GULF and The Chase Manhattan
Bank, as Trustee, and indentures supplemental
thereto through January 1, 1998. (Designated in
Form 8-K dated January 27, 1997, File No. 0-2429,
as Exhibits 4.1 and 4.2, in Form 8-K dated July
28, 1997, File No. 0-2429, as Exhibit 4.2 and in
Form 8-K dated January 13, 1998, File No.
0-2429, as Exhibit 4.2.)
C-14 Senior Note Indenture dated as of January 1,
1998, between GULF and The Chase Manhattan Bank,
as Trustee, and indenture supplemental thereto
dated as of August 24, 1999. (Designated in Form
8-K dated June 17, 1998, File No. 0-2429, as
Exhibits 4.1 and 4.2 and in Form 8-K dated August
17, 1999, File No. 0-2429 as Exhibit 4.2.)
A-51
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
C-15 Indenture dated as of September 1, 1941, between MISSISSIPPI and Bankers Trust Company, as
Successor Trustee, and indentures supplemental thereto through December 1, 1995. (Designated in
Registration Nos. 2-4834 as Exhibit B-3, 2-62965 as Exhibit 2(b)-2, 2-66845 as Exhibit 2(b)-2,
2-71537 as Exhibit 4(a)-(2), 33-5414 as Exhibit 4(a)-(2), 33-39833 as Exhibit 4(a)-2, in
MISSISSIPPI's Form 10-K for the year ended December 31, 1991, File No. 0-6849, as Exhibit 4(b),
in Form 8-K dated August 5, 1992, File No. 0-6849, as Exhibit 4(a)-2, in Second Certificate of
Notification, File No. 70-7941, as Exhibit I, in MISSISSIPPI's Form 8-K dated February 26, 1993,
File No. 0-6849, as Exhibit 4(a)-2, in Certificate of Notification, File No. 70-8127, as Exhibit
A, in Form 8-K dated June 22, 1993, File No. 0-6849, as Exhibit 1, in Certificate of
Notification, File No. 70-8127, as Exhibit A, in Form 8-K dated March 8, 1994, File No. 0-6849,
as Exhibit 4, in Certificate of Notification, File No. 70-8127, as Exhibit C and in Form 8-K
dated December 5, 1995, File No. 0-6849, as Exhibit 4.)
C-16 Subordinated Note Indenture dated as of February
1, 1997, between MISSISSIPPI and Bankers Trust
Company, as Trustee, and indenture supplemental
thereto dated as of February 1, 1997. (Designated
in Form 8-K dated February 20, 1997, File No.
0-6849, as Exhibits 4.1 and 4.2.)
C-17 Senior Note Indenture dated as of May 1, 1998
between MISSISSIPPI and Bankers Trust Company, as
Trustee and indentures supplemental thereto
through March 28, 2000. (Designated in Form 8-K
dated May 14, 1998, File No. 0-6849, as Exhibits
4.1, 4.2(a) and 4.2(b) and in Form 8-K dated
March 22, 2000, File No. 0-6849, as Exhibit 4.2.)
C-18 Indenture dated as of March 1, 1945, between SAVANNAH and The Bank of New York, as Trustee, and
indentures supplemental thereto through May 1, 1996. (Designated in Registration Nos. 33-25183
as Exhibit 4(a)-(1), 33-41496 as Exhibit 4(a)-(2), 33-45757 as Exhibit 4(a)-(2), in SAVANNAH's
Form 10-K for the year ended December 31, 1991, File No. 1-5072, as Exhibit 4(b), in Form 8-K
dated July 8, 1992, File No. 1-5072, as Exhibit 4(a)-3, in Registration No. 33-50587 as Exhibit
4(a)-(2), in Form 8-K dated July 22, 1993, File No. 1-5072, as Exhibit 4, in Form 8-K dated May
18, 1995, File No. 1-5072, as Exhibit 4 and in Form 8-K dated May 23, 1996, File No. 1-5072, as
Exhibit 4.)
C-19 Subordinated Note Indenture dated as of December
1, 1998, between SAVANNAH and The Bank of New
York, as Trustee, and indenture supplemental
thereto dated as of December 9, 1998. (Designated
in Form 8-K dated December 3, 1998, File No.
1-5072, as Exhibit 4.3 and 4.4.)
C-20 Senior Note Indenture dated as of March 1, 1998
between SAVANNAH and The Bank of New York, as
Trustee and indenture supplemental thereto dated
as of March 1, 1998. (Designated in Form 8-K
dated March 9, 1998, File No. 1-5072, as Exhibits
4.1 and 4.2.)
A-52
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
D-1 Income Tax Allocation Agreement and Amendments 1 through 76 thereto. (Designated in Form U5S
for 1981, File No. 30-222-2, as Exhibit A-21, in Form U5S for 1982, File No. 30-222-2, as
Exhibit A-22(b), in Form U5S for 1982, File No. 30-222-2, as Exhibit A-22(c), in Form U5S for
1983, File No. 30-222-2, as Exhibit D-1(d), in Form U5S for 1985, File No. 30-222-2, as Exhibit
D-1(e), in Amendment No. 1 to Form U5S for 1985, File No. 30-222-2, as Exhibit D-1(f) in Form
U5S for 1987, File No. 30-222-2, as Exhibit D-2, in Form U5S for 1991, File No. 30-222-2, as
Exhibit D-2 and in Form U5S for 1992, File No. 30-222-2, as Exhibit D-2, in Form U5S for 1991,
File No. 30-222-2, as Exhibit D-2, in Form U5S for 1994, File No. 30-222-2, as Exhibit D-2 and
in Form U5S for 1995, File No. 30-222-2, as Exhibit D-2, as Exhibit D-2, in Form U5S for 1994,
File No. 30-222-2, as Exhibit D-2, in Form U5S for 1996, File No. 30-222-2, as Exhibit D-2, in
Form U5S for 1997, File No. 30-222-2, as Exhibit D-2 and in Form U5S for 1998, File No.
30-222-2, as Exhibit D-2.)
D-2 Amendments 77 through 86 to Income Tax Allocation Agreement.
E-1 ALABAMA's, GEORGIA's, GULF's, MISSISSIPPI's, SCS's and SOUTHERN NUCLEAR's personnel policies
pertaining to employee loans. (Designated in Form U5S for 1985, File No. 30-222-2, as Exhibits
E-1, E-2, E-3, E-4 and E-5, in Form U5S, File No. 30-222-2, for 1987 as Exhibit E-2, in Form U5S
for 1990, File No. 30-222-2, as Exhibit E-2, in Form U5S for 1991, File No. 30-222-2, as
Exhibits E-2 and E-3 , in Form U5S for 1992, File No. 30-222-2, as Exhibit E-2 in Form U5S for
1993, File No. 30-222-2, as Exhibit E-2, in Form U5S for 1991, File No. 30-222-2, as Exhibit
D-2, in Form U5S for 1994, File No. 30-222-2, as Exhibit E-2, in Form U5S for 1995, File No.
30-222-2, as Exhibit E-2 and in Form U5S for 1997, File No. 30-222-2, as Exhibit E-2.)
G-1 ALABAMA's Financial Data Schedule. (Designated in Form 8-K dated February 16, 2000, File No.
1-3164, as Exhibit 27.)
G-2 GEORGIA's Financial Data Schedule. (Designated in Form 8-K dated February 16, 2000, File No.
1-6468, as Exhibit 27.)
G-3 GULF's Financial Data Schedule. (Designated in Form 8-K dated February 16, 2000, File No.
0-2429, as Exhibit 27.)
G-4 MISSISSIPPI's Financial Data Schedule. (Designated in Form 8-K dated February 16, 2000, File
No. 0-6849, as Exhibit 27.)
G-5 SAVANNAH's Financial Data Schedule. (Designated in Form 8-K dated February 16, 2000, File No.
1-5072, as Exhibit 27.)
G-6 SOUTHERN system's consolidated Financial Data Schedule. (Designated in Form 8-K dated February
16, 2000, File No. 1-3526, as Exhibit 27.)
A-53
<PAGE>
EXHIBITS.
Exhibits (including reference to previous filings): (Continued)
Exhibit
Number Description of Exhibit
H Organizational chart.
I Financial statements relating to certain exempt
wholesale generators and foreign utility
companies.
Exhibits listed above which have heretofore been filed with the SEC
pursuant to various Acts administered by the SEC, and which were designated as
noted above, are hereby incorporated herein by reference and made a part hereof
with the same effect as if filed herewith.
A-54
</TABLE>
<PAGE>
SIGNATURE
The undersigned registered holding company has duly caused this
annual report to be signed on its behalf by the undersigned thereunto
duly authorized pursuant to the requirements of the Public Utility
Holding Company Act of 1935.
THE SOUTHERN COMPANY
Date: April 28, 2000 By /s/ W. L. Westbrook
W. L. Westbrook
Financial Vice President,
Chief Financial Officer, and
Treasurer
A-55
1
INSTRUCTIONS FOR THE USE OF MODIFIED FORM U-13-60
1. Time of Filing - - Annual Report essentially in the form of U-13-60 shall be
filed appended to Form U5S, Annual Report of the Parent and Associate Companies
Pursuant to the Public Utility Holding Company Act of 1935. Form U5S is required
to be filed by May 1.
2. Number of Copies - - Each annual report shall be filed in duplicate. The
company should prepare and retain at least one extra copy for itself in case
correspondence with reference to the report becomes necessary.
3. Definitions - - Definitions contained in Instruction 01-8 to the Uniform
System of Accounts for Mutual Service Companies and Subsidiary Service
Companies, Public Utility Holding Company Act of 1935, as amended February 2,
1979 shall be applicable to words or terms used specifically within the modified
Form U-13-60.
4. Organization Chart - - The company shall submit with each annual report a
copy of its current organization chart.
<PAGE>
Exhibit A-7
MODIFIED
Form U-13-60
ANNUAL REPORT
For The Period
Beginning January 1, 1999 and Ending December 31, 1999
To The
U.S. SECURITIES AND EXCHANGE COMMISSION
Of
SOUTHERN ENERGY RESOURCES, INC.
(formerly known as SOUTHERN ENERGY, INC.)
(Exact Name of Reporting Company)
A Subsidiary Company
Date of Incorporation July 29, 1981. If not incorporated
Date of Organization______________
State or Sovereign Power under which Incorporated or Organized
State of Delaware
Location of Principal Executive Offices of Reporting Company
900 Ashwood Parkway, Suite 500
Atlanta, GA 30338
Report filed pursuant to File Number 70-6599
Name, title, and address of officer to whom correspondence
concerning this report should be addressed:
<TABLE>
<CAPTION>
<S> <C> <C>
James A. Ward Senior Vice President Finance & Accounting 900 Ashwood Parkway, Suite 500
(Name) (Title) (Address)
</TABLE>
Name of Principal Holding Company under which Reporting Company is
Organized:
THE SOUTHERN COMPANY
<PAGE>
2
- -------------------------------------------------------------------------------
LISTING OF SCHEDULES AND ANALYSIS OF ACCOUNTS
- -------------------------------------------------------------------------------
Description of Schedules and Accounts Schedule or Page
Account Number Number
- -------------------------------------------------------------------------------
COMPARATIVE BALANCE SHEET Schedule I 3-4
- -------------------------
COMPANY PROPERTY Schedule II 5
ACCUMULATED PROVISIONS FOR DEPRECIATION
AND AMORTIZATION OF COMPANY PROPERTY Schedule III 6
INVESTMENTS Schedule IV 7
ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
Schedule V 8
MISCELLANEOUS DEFERRED DEBITS Schedule IX 9
PROPRIETARY CAPITAL Schedule XI 10
LONG TERM DEBT Schedule XII 11
CURRENT AND ACCRUED LIABILITIES Schedule XIII 12
NOTES TO FINANCIAL STATEMENTS Schedule XIV 13
COMPARATIVE INCOME STATEMENT Schedule XV 14
- ----------------------------
ANALYSIS OF BILLING-ASSOCIATE COMPANIES Account 457 15
ANALYSIS OF BILLING-NONASSOCIATE COMPANIES
Account 458 16
SCHEDULE OF EXPENSE BY DEPARTMENT OR FUNCTION
Schedule XVII 17-18
DEPARTMENTAL ANALYSIS OF SALARIES Account 920 19
DISPOSITION OF INTELLECTUAL PROPERTY Account 928 20
MISCELLANEOUS GENERAL EXPENSES Account 930.2 21
TAXES OTHER THAN INCOME TAXES Account 408 22
DONATIONS Account 426.1 23
OTHER DEDUCTIONS Account 426.5 24
NOTES TO STATEMENT OF INCOME Schedule XVIII 25
OUTSIDE SERVICES EMPLOYED Schedule XIX 26
ORGANIZATION CHART 27
- -------------------------------------------------------------------------------
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3
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<CAPTION>
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
- ----------------------------------------------------------------------------------------
SCHEDULE I - COMPARATIVE BALANCE SHEET
- ---------------------------------------------------------------------------------------
Give balance sheet of the Company as of December 31 of the current and prior
year. (Note: Amounts are in thousands of dollars)
- -----------------------------------------------------------------------------------------
ACCOUNT ASSETS AND OTHER DEBITS AS OF DECEMBER 31
- -----------------------------------------------------------------------------------------
CURRENT PRIOR
-------- ------
COMPANY PROPERTY
----------------
<S> <C> <C>
101 Company Property (Schedule II) 32,764 13,493
107 Construction work in progress (Schedule II) - -
------ ------
Total Property 32,764 13,493
------ -------
108 Less accumulated provision for depreciation and
amortization of company property (Schedule III) (9,290) (7,274)
------ ------
Net Company Property 23,474 6,219
------ ------
INVESTMENTS
----------
123 Investments in associate companies - -
124 Other Investments (Schedule IV) - 739
------- -------
Total Investments - 739
-------- -------
CURRENT AND ACCRUED ASSETS
-------------------------
131 Cash 2,716 14,712
134 Special deposits 342 596
135 Working funds 850 151
136 Temporary cash investments - -
141 Notes Receivable 40 40
143 Accounts Receivable 1,605 2,155
144 Accumulated provision for uncollectable accounts (222) (567)
146 Accounts receivable from associate companies
(Schedule V) 50,679 156,801
152 Fuel stock expenses undistributed - -
154 Materials and supplies - 4,500
163 Stores expenses undistributed - -
165 Prepayments 8,505 191
174 Miscellaneous current and accrued assets 2,724 545
----- ------
Total Current and Accrued Assets 67,239 179,124
------ -------
DEFERRED DEBITS
---------------
181 Unamortized debt expense - -
184 Clearing accounts - -
186 Miscellaneous deferred debits (Schedule IX) 330 167
188 Research, development, or demonstration
expenditures - -
190 Accumulated deferred income taxes 37,362 37,047
------ ------
Total Deferred Debits 37,692 37,214
------ ------
------ ------
TOTAL ASSETS AND OTHER DEBITS 128,405 223,294
- --------------------------------------------------------------------------------------
</TABLE>
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4
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
- -------------------------------------------------------------------------------------------------------------
SCHEDULE I - COMPARATIVE BALANCE SHEET
- -------------------------------------------------------------------------------------------------------------
ACCOUNT LIABILITIES AND PROPRIETARY CAPITAL AS OF DECEMBER 31
- -------------------------------------------------------------------------------------------------------------
CURRENT PRIOR
--------- -------
PROPRIETARY CAPITAL
-------------------
<S> <C> <C>
201 Common stock issued (Schedule XI) 100 100
211 Miscellaneous paid-in capital (Schedule XI) 198,709 288,846
215 Appropriated retained earnings (Schedule XI) - -
216 Unappropriated retained earnings (Schedule XI) (190,312) (157,295)
-------- --------
Total Proprietary Capital 8,497 131,651
-------- --------
LONG TERM DEBT
--------------
223 Advances from associate companies (Schedule XII) - -
224 Other long-term debt (Schedule XII) - -
225 Unamortized premium on long-term debt - -
226 Unamortized discount on long-term debt-debit - -
-------- --------
Total long-term debt - -
-------- --------
CURRENT AND ACCRUED LIABILITIES
-------------------------------
231 Notes Payable - -
232 Accounts payable 9,539 12,282
233 Notes payable to associate companies (Schedule XIII)
- -
234 Accounts payable to associate companies
(Schedule XIII) 12,403 4,041
236 Taxes accrued 331 160
237 Interest accrued - -
238 Dividends declared - -
241 Tax collections payable 2,172 1,535
242 Miscellaneous current and accrued liabilities
(Schedule XIII) 26,056 21,059
--------- --------
Total current and accrued liabilities 50,500 39,077
--------- --------
DEFERRED CREDITS
----------------
253 Other deferred credits 57,129 40,049
255 Accumulated deferred investment tax credits - -
--------- --------
Total Deferred Credits 57,129 40,049
--------- --------
282 ACCUMULATED DEFERRED INCOME TAXES 12,278 12,517
---------------------------------
--------- --------
TOTAL LIABILITIES AND PROPRIETARY CAPITAL
128,405 223,294
--------- --------
- ----------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
5
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- ---------------------------------------------------------------------------------------------------------------------------
SCHEDULE II - COMPANY PROPERTY
- ---------------------------------------------------------------------------------------------------------------------------
START OF END OF
YEAR RETIRED OTHER YEAR
DESCRIPTION BALANCE ADDITION OR SOLD CHANGES BALANCE
- ---------------------------------------------------------------------------------------------------------------------------
COMPANY PROPERTY
----------------
Account
<S> <C> <C> <C> <C> <C>
301 ORGANIZATION 5 - - (5) 0
303 MISCELLANEOUS INTANGIBLE
PLANT 795 - - (795) 0
304 LAND AND LAND RIGHTS
- - - - -
305 STRUCTURES AND IMPROVEMENTS
- - - 6 6
306 LEASEHOLD IMPROVEMENTS 1
1,633 83 - (25) 1,691
306 LEASEHOLD IMPROVEMENTS - SEI
- 467 8 475
LEASEHOLD IMPROVEMENTS - SCEM
306 - 18,693 - (2,979) 15,714
307 EQUIPMENT 1 2 8,046 2,678 - 450 11,174
308 OFFICE FURNITURE AND
EQUIPMENT 1 2,850 784 - (95) 3,540
309 AUTOMOBILES, OTHER VEHICLES
AND RELATED GARAGE EQUIPMENT
164 131 - (131) 164
310 AIRCRAFT AND AIRPORT
EQUIPMENT - - - - -
311 OTHER COMPANY PROPERTY 3
- - - - -
------ ------ --- ------ ------
SUB-TOTAL 13,493 22,836 - (3,566) 32,764
------ ------ --- ------ -----
107 CONSTRUCTION WORK
IN PROGRESS 4 -
------ ------- --- ------
TOTAL 13,493 22,836 0 (3,566) 32,764
------ ------ --- ------
- ---------------------------------------------------------------------------------------------------------------------------
1) PROVIDE AN EXPLANATION OF THOSE CHANGES CONSIDERED MATERIAL:
Purchase of Compute Hardware: $ 2,678
Purchase of Software Licenses:
Purchase of Office Furniture: 784
Professional Office Expansion:
2) SUBACCOUNTS ARE REQUIRED FOR EACH CLASS OF EQUIPMENT OWNED. THE
COMPANY SHALL PROVIDE A LISTING BY SUBACCOUNT OF EQUIPMENT
ADDITIONS DURING THE YEAR AND THE BALANCE AT THE CLOSE OF THE YEAR:
- -----------------------------------------------------------------------------------------------------------
BALANCE AT
CLOSE OF YEAR
SUBACCOUNT DESCRIPTION ADDITIONS
- -----------------------------------------------------------------------------------------------------------
Computer Software - -
Computer Hardware 2,678 11,174
- -----------------------------------------------------------------------------------------------------------
3) DESCRIBE OTHER COMPANY PROPERTY:
Not Applicable
4) DESCRIBE CONSTRUCTION WORK IN PROGRESS:
Not Applicable
</TABLE>
<PAGE>
<TABLE>
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6
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- ------------------------------------------------------------------------------------------------------------------
SCHEDULE III
CCUMULATED PROVISION FOR DEPRECIATION AND
AMORTIZATION OF COMPANY PROPERTY
- ------------------------------------------------------------------------------------------------------------------
CHARGED OTHER
START OF YEAR TO CHANGES END OF
YEAR ACCOUNT RETIRE- ADD YEAR
DESCRIPTION BALANCE 403 MENTS (DEDUCT) BALANCE
- ------------------------------------------------------------------------------------------------------------------
COMPANY PROPERTY
Account
<S> <C> <C> <C> <C> <C> <C>
301 ORGANIZATION - - - - -
303 MISCELLANEOUS
INTANGIBL PLANT - - - - -
304 LAND AND LAND
RIGHTS - - - - -
305 STRUCTURES AND
IMPROVEMENTS - - - - -
306 LEASEHOLD
IMPROVEMENTS 906 404 - - 1,310
307 EQUIPMENT 5,219 1,335 - - 6,554
308 OFFICE FURNITURE AND
FIXTURES 1,010 259 - - 1,268
309 AUTOMOBILES, OTHER
VEHICLES AND
RELATED GARAGE
EQUIPMENT 139 18 - - 158
310 AIRCRAFT AND
AIRPORT EQUIPMENT - - - - -
311 OTHER COMPANY
PROPERTY - - - - -
------ ----- --- --- -----
TOTAL 7,274 2,017 - - 9,290
----- ----- --- --- -----
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
7
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- ------------------------------------------------------------------------------
SCHEDULE IV - INVESTMENTS
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
INSTRUCTIONS: Complete the following schedule concerning investments.
Under account 124, "Other Investments", state each
investment separately, with description, including the
name of issuing company, number of shares or principal
amount, etc.
- -------------------------------------------------------------------------------
BALANCE AT
BEGINNING OF BALANCE AT
DESCRIPTION YEAR AT CLOSE OF YEAR
- -------------------------------------------------------------------------------
ACCOUNT 124 - OTHER INVESTMENT
Investment in Mobile Energy Services Co. , LLC 739 -
---- ---
TOTAL 739 -
---- ---
- -------------------------------------------------------------------------------
Note:
Due to an impairment write down of our affiliate Mobile Energy during
1999, our 1% investment in this asset was correspondingly written down to a zero
balance.
<PAGE>
8
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- ----------------------------------------------------------------------------
SCHEDULE V - ACCOUNTS RECEIVABLE FROM ASSOCIATE COMPANIES
- ----------------------------------------------------------------------------
- ------------------------------------------------------------------------------
INSTRUCTIONS: Complete the following schedule listing accounts
receivable from each associate company. Where the company
has provided accommodation or convenience payments for
associate companies, a separate listing of total payments
for each associate by subaccount should be provided.
- ------------------------------------------------------------------------------
BALANCE AT
BEGINNING OF BALANCE AT CLOSE
DESCRIPTION YEAR OF YEAR
ACCOUNT 146 - ACCOUNTS RECEIVABLE FROM
ASSOCIATE COMPANIES:
Alabama Power Co. - 6
Georgia Power Co. - -
Southern Company Services 714 656
Mississippi Power Company - 69
Nuon Lease, nc. 173 -
SEI Birchwood, Inc. (147) 83
Southern Energy, Inc. (formerly SEI Holdings, Inc.) 1,196 62
Associadios 1 9
Southern Energy-Newco2, Inc. 17 2,251
Electricidad - 9
SE Europe Investments Ltd. 1 -
Hidroelectric Alicura, S.A. 139 141
SEI Cajun, Inc. 464 -
SEB Holdings 519 -
SE Netherlands Ltd 1 -
SE Europe, Inc. 4 -
SE Caribe, Ltd 2 -
SE China Investments, Inc. 4 -
Mobile Energy Services Company (MESCO) - 540
Mobile Energy Services Holding (MESH) 1,609 500
Southern Energy Trading and Marketing, Inc. 11 994
Edelnor 410 897
SEI Trinidad, Inc. - 148
Birchwood Power Partners 1,253 1,304
Dutch Gas Lease, Inc. 119 -
SEI Michigan 1,183 -
SEI Gamog, Inc. 15 -
SE Asia Ventures 4 -
Southern Electric, Inc. 3 3
SEI Holdings IX 463 -
Savannah Electric - 61
Southern Company Energy Marketing 1,849 155
State Line Holding Corporation - 363
Southern Investments Holding UK 4 (7)
Southern Investments UK plc 17 1,603
South Western Electricity plc 1,787 2,688
Southern Electric Bahamas Holding, Ltd. - 462
Beteiligungs GmbH 45 1,903
SE Europe BV 3,173 -
SEI Europe, Inc. 18 314
SE Bay Area Investments, Inc. 256 -
SE Golden State Holdings, Inc. 256 -
SE Delta, L.L.C. 5,810 -
SE Potrero 1,591 -
Greenhost, Inc. - 304
SEB Limited - 101
SE do Brasil 73 210
SEI State Line - 597
State Line LLC 2,908 71,528
State Line Holding Corporation 20 -
SE Southwest Investments, Inc. 3 -
SE Wichita Falls, L.P 713 713
SE New York, G.P. Inc. 2,907 -
SE Bowline, L.L.C. 3,104 -
SE Lovett, L.L.C. 2,380 -
SE New York - Gen L.L.C. 211 -
SE New England Holding Corp. 391 -
SEI New England, Inc. 390 -
SE Canal, L.L.C. 4,249 -
SE Canal III, L.L.C. 2,439 -
SENA Generating, Inc. 3,992 -
SE New England Investments, Inc. 182 -
SE New England (G.P.) Inc. 1 -
SEI Clairton, Inc. 14 5
SEI Finance - 1
SEI Worldwide Holdings Beteiligungs 73 -
Germany BEWAG, Inc 220 3,347
SEI Worldwide Holdings, Inc. 220 3,347
Southern Energy Canal, LLC - 17,764
Southern Energy Kendall, LLC - 7,127
SE Clairton 2, Inc. (5) (10)
SE Carbontronics, Inc. 72 -
Southern Energy Development - Europe Gmbh3 126 99
Southern Energy International Inc. 27 96
Dutch Gas Lease, Inc. - 1
Southern Energy Holdings GmbH2 - 6,135
SoCo Capital Funding 6 3
Southern Energy Asia, Inc. - 1,978
CEPA - 1,505
Sual Slipform - 2,381
CEPA Slipform - 3,672
CEPA Tileman Power Systems - 48
CEPAL 1,761 16,671
Allied Queensland Coalfield - 323
Hopewell Tileman Philippines - 8
Hopewell Energy Philippines - 8
Southern Energy Finance (9) 1,021
Hopewell Power Philippines - 155
Hopewell Energy Ltd - 49
CEPA Operations HK - 151
CEPAO (Phil) Corp. - 3
Phillippine Power & Infrastruture Holding Corporation - 136
Southern Energy Shajiao C Ltd. - 52
EPZ Lease, Inc. 22 9
CEPA Construction - 906
CEPA Operations Philippines Corp. - 506
CEPA Operation - 102
Southern Energy Holding Philippine - 384
Sual Construction - 859
Federal Income Tax Receivable 1,225
----- -----
TOTAL 50,679 156,801
------ -------
- ------------------------------------------------------------------------------
<PAGE>
9
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the year Ended December 31, 1999
- ------------------------------------------------------------------------------
SCHEDULE IX - MISCELLANEOUS DEFERRED DEBITS
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
INSTRUCTION: Provide detail of items in this account. Items less than $10,000
may be grouped by class showing the number of items in each class.
- ------------------------------------------------------------------------------
BALANCE AT
BEGINNING OF BALANCE AT
DESCRIPTION YEAR CLOSE OF YEAR
- ------------------------------------------------------------------------------
ACCOUNT 186 - MISCELLANEOUS
EFERRED DEBITS 1) 167 330
--- ---
TOTAL 167 330
--- ---
- ------------------------------------------------------------------------------
1) Miscellaneous Deferred Debits: $ 330 K for SERI Employee Promissory Note
and "VAT" credit.
<PAGE>
<TABLE>
<CAPTION>
10
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -----------------------------------------------------------------------------------------------------------------------------------
SCHEDULE XI
PROPRIETARY CAPITAL
- -----------------------------------------------------------------------------------------------------------------------------------
NUMBER OF
SHARES PAR OR STATED VALUE
ACCOUNT NUMBER CLASS OF STOCK AUTHORIZED PER SHARE OUTSTANDING CLOSE OF PERIOD
----------------------------------------
NO. OF SHARES TOTAL AMOUNT
-----------------------------------------
<S> <C> <C> <C> <C> <C>
201 COMMON STOCK ISSUED 1,000 $100 1,000 100
- -----------------------------------------------------------------------------------------------------------------------------------
INSTRUCTIONS: Classify amounts in each account with brief
explanation, disclosing the general nature
of transactions which give rise to the reported amounts.
- -----------------------------------------------------------------------------------------------------------------------------------
D E S C R I P T I O N AMOUNT
- -----------------------------------------------------------------------------------------------------------------------------------
ACCOUNT 211 MISC. PAID IN CAPITAL 198,709
ACCOUNT 215 APPROPRIATED RETAINED EARNINGS -
-------
TOTAL 198,709
- -----------------------------------------------------------------------------------------------------------------------------------
BALANCE AT
BEGINNING OF NET INCOME OR BALANCE AT
D E S C R I P T I O N YEAR (LOSS) DIVIDENDS PAID CLOSE OF YEAR
- ----------------------------------------------------------------------------------------------------------- -----------------------
ACCOUNT 216 UNAPPROPRIATED RETAINED EARNINGS (157,295) (33,017) - (190,312)
-------- ------- ------------- --------
TOTAL (157,295) (33,017) - (190,312)
-------- ------- ------------- --------
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
11
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -----------------------------------------------------------------------------------------------------------------------------------
SCHEDULE XII
LONG-TERM DEBT
- -----------------------------------------------------------------------------------------------------------------------------------
INSTRUCTIONS: Advances from parent and associate companies should be reported separately for advances on notes, and advances
on open accounts. Names of associate companies from which advances were received shall be shown under the
class and series of obligation column. For Account 224 - Other Long Term Debt provide the name of creditor
company or organization, terms of the obligation, date of maturity, interest rate, and the amount authorized
and outstanding.
- -----------------------------------------------------------------------------------------------------------------------------------
TERMS OF OBLIG BALANCE AT BALANCE
NAME OF CREDITOR CLASS & SERIES DATE OF INTEREST AMOUNT BEGINNING (1) AT CLOSE
OF OBLIGATION MATURITY RATE AUTHORIZED OF YEAR ADDITIONS DEDUCTIONS OF YEAR
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
ACCOUNT 223 - ADVANCES FROM
PARENT AND
ASSOCIATE
COMPANIES: - - - -
ACCOUNT 224 - OTHER LONG -TERM DEBT:
Not Applicable
TOTAL - - - -
- -----------------------------------------------------------------------------------------------------------------------------------
(1) GIVE AN EXPLANATION OF DEDUCTIONS:
</TABLE>
<PAGE>
12
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XIII - CURRENT AND ACCRUED LIABILITIES
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provide balance of notes and accounts payable to each associate
company. Give description and amount of miscellaneous current
and accrued liabilities. Items less than $10,000 may be
grouped, showing the number of items in each group.
- -------------------------------------------------------------------------------
BALANCE AT BALANCE AT
BEGINNING CLOSE OF
D E S C R I P T I O N OF YEAR YEAR
- -------------------------------------------------------------------------------
ACCOUNT 233 - NOTES PAYABLE TO ASSOCIATE
COMPANIES:
THE SOUTHERN COMPANY - -
-----------------------------------------
TOTAL - -
- -------------------------------------------------------------------------------
ACCOUNT 234 - ACCOUNTS PAYABLE TO ASSOCIATE
COMPANIES :
Alabama Power Company - 6
Georgia Power Company 195 60
Southern Company Services 1,561 2,076
Mobile Energy Services Holdings 1 1
SEI Europe, Limited 1,796 -
SE California, LLC. - 5,168
SE Kendall, LLC - 629
South Western Electricity plc 429 -
SEI Texas, L.P. - 1,040
SEI Wisconsin, LLC - 1,716
Greenhost - 1
SC Energy Marketing, LP - 598
SWEB (WPD) - 606
SE Europe B.V. - 140
SEI Europe, Ltd - 362
SEI Hawaii 59 -
-----------------------------------------
TOTAL 4,041 12,403
- -------------------------------------------------------------------------------
ACCOUNT 242 - MISCELLANEOUS CURRENT AND
ACCRUED LIABILITIES:
Georgia Credit Union Withholding - 2
Commonwealth Utilities Employee
Credit Union - 9
Employee Garnishments W/H - -
Employee Flex Dependent Care 4 (2)
Employee Flex Health Care 9 7
Accrued Bonuses - Home Offic 12,396 10,669
Accrued Bonuses - Plant 754 3,458
Accrued Project Award Payable 2,743 3,900
Accrued SAR's - 1,766
Employee Group Insurance
Premiums Withheld - -
Billing in Excess of Cost
on Uncompleted Contracts 1,415 567
Vacation Clearing
Current/Prior Year 3,711 5,682
Loss Provision - Macon Kraft - -
ESP and ESOP 2 (3)
MESCO Insurance / Union Dues - -
Miscellaneous 4 (1)
United Way Withholdings 21 2
-----------------------------------------
TOTAL 21,059 26,056
- -------------------------------------------------------------------------------
<PAGE>
13
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any accounts thereof. Furnish particulars
as to any significant contingent assets or liabilities existing
at the end of the year. Notes relating to financial statements
shown elsewhere in this report may be indicated here by
reference.
- -------------------------------------------------------------------------------
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
------------------------------------------
General
-------
Southern Energy Resources, Inc. ("SERI" or the "Company"), an indirect
wholly owned subsidiary of The Southern Company ("Southern"), is engaged
in providing management support activities to it's parent and affiliate
companies as well as providing the development, construction, operation
and maintenance ("O&M"), of cogeneration and independent power facilities
in the United States and internationally. The Company's billings to
affiliates represent approximately 96% of revenues. SERI's international
consulting efforts represent approximately 3% of the Company's revenues
with the remaining 1% being derived from SERI's global business
development efforts.
SERI owns 99.9% of SEI Operadora del Argentina, S.A., incorporated in 1993
for the purpose of providing operational and maintenance services to
Hidroelectrica Alicura, S.A., and 1% of Mobile Energy Services Company,
L.L.C. ("Mobile Energy"), formed in 1995 for the purpose of owning and
operating an energy and chemical recovery complex located in Mobile,
Alabama. SERI also owns 100% of Southern Electric International, Asia,
Inc. and 100% of Southern Electric International, GmbH, which were formed
in 1995 for the purpose of business development in Asia and Europe,
respectively.
Accounting Estimates
--------------------
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those
estimates.
Basis of Presentation
---------------------
The consolidated financial statements include the accounts of SERI and its
subsidiaries. All significant intercompany accounts and transactions have
been eliminated in consolidation. Certain prior year amounts have been
reclassified to conform with the current financial statement presentation.
Cash and Cash Equivalents
-------------------------
Investments with an original maturity of 90 days or less are classified as
cash and cash equivalents.
Property and Equipment
----------------------
Property and equipment are recorded at cost. Depreciation and amortization
are provided using the straight-line method over the estimated economic
lives of the related assets (ranging from 3 years to 12 years). Leasehold
improvements are amortized over the shorter of the respective lease terms
or the useful lives of the improvements. The Company's capitalization
policy expenses the cost of certain immaterial assets when purchased. Upon
the retirement or sale of assets, the costs of such assets and the related
accumulated depreciation are removed from the balance sheet and the gain
or loss, if any, is credited or charged to income.
Project Development Costs
-------------------------
SERI capitalizes and simultaneously fully reserves for development costs
for projects in which a milestone has not yet been achieved but whose
likelihood of success is probable. It is reasonably possible that the
estimated reserve will be reduced significantly in the near term due to
successful project development efforts, which would have a beneficial
impact on earnings.
<PAGE>
13-A
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any accounts thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
- -------------------------------------------------------------------------------
Income Taxes
------------
The Company provides deferred income taxes for all significant income tax
temporary differences in accordance with Financial Accounting Standards
Board Statement of Financial Accounting Standards ("SFAS") No. 109,
"Accounting for Income Taxes." SFAS No. 109 requires, among other things,
the use of an asset and liability method for the recognition of deferred
tax liabilities and assets.
Revenue Recognition
-------------------
Revenues from construction contracts are recognized using the
percentage-of-completion method. The extent of progress toward completion
is measured by comparing the percentage of costs incurred to date to total
estimated costs on each contract. Provisions for estimated losses on
uncompleted contracts are charged to income in full when such losses
become probable and are reasonably estimable. Other service revenues are
recognized when earned.
2. EMPLOYEE BENEFITS
-----------------
Pension Plan
------------
SERI participates in the Pension Plan for Employees of Southern Company, a
defined benefit, trusteed, noncontributory plan covering substantially all
regular management and nonunion employees. Certain SERI union employees
engaged in operations and maintenance at SE New England and SE New York
are covered by a separate collective bargaining unit plan. Union employees
engaged in the operations and maintenance contract with Mobile Energy
participate in a separate pension plan. Likewise, union employees engaged
in the operations of State Line Energy, L.L.C. in Hammond, IN are covered
by a defined contribution union pension plan sponsored through The United
Steelworkers of America of which SERI contributed $183,742 and $185,925 in
1999 and 1998.
The following table sets forth SERI's defined benefit plans' funded status
as of December 31, 1999 (in thousands):
1999
--------
Benefit obligation at beginning of year $ 29,758
Service Cost 2,804
Interest Cost 2,553
Benefits Paid (423)
(Gain)/Loss 3,391
Amendments 37
Acquisition 17,455
Curltailment (197)
--------
Benefit obligation at end of year $ 55,378
========
$ (13,730)
Funded Status
Unrecognized net transition obligation 88
Unrecognized Net (Gain) / Loss (13,905)
Unrecognized prior service cost 2,086
Accruals for Acquisition ----------
Accrued pension costs recognized in the balance sheets $ (25,461)
=========
The actuarial present value of the projected benefit obligation for the
plans was determined using a discount rate of 7.50% for 1999 and a rate of
increase in future compensation levels of 5.00% for 1999. The expected
long-term rate of return on assets was 8.5% for 1999.
<PAGE>
13-B
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any accounts thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
- -------------------------------------------------------------------------------
The net periodic pension cost for 1999 included the following components
(in thousands):
1999
--------
Service cost-benefits earned $ 2,804
Interest cost on projected benefit obligation 2,553
Actual return on plan assets (2,895)
Net amortization and deferrals 639
-------
Net periodic pension cost $ 3,101
========
Postretirement Benefits
-----------------------
SERI also provides certain medical care and life insurance benefits for
retired employees. Substantially all employees may become eligible for
these benefits when they retire.
Effective January 1, 1993, the Company adopted SFAS No. 106, "Employers
Accounting for Postretirement Benefits Other Than Pensions." SFAS No. 106
requires that medical care and life insurance benefits for retired
employees be accounted for on an accrual basis using a specified actuarial
method, benefit/years-of-service.
The funded status of the medical and life plans at December 31, 1999 was
as follows (in thousands):
1999
Medical
and Life
Benefit obligation at beginning of year $ 7,864
Service Cost 713
Interest Cost 870
Benefits Paid (112)
(Gain)/Loss (556)
Acquisitions 10,333
--------
Benefit obligation at end of year $ 19,112
========
The discount, future compensation, and expected long-term return on assets
rates used for the pensions described above were also used in measuring
the postretirement benefit obligation. The weighted average medical care
cost trend rate was 7.74 % for 1999, decreasing gradually to 5.50% through
the year 2005 and remaining at that level thereafter.
<PAGE>
13-C
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- ------------------------------------------------------------------------------
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
- ------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any accounts thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
- -------------------------------------------------------------------------------
The components of the plans' net costs are shown below (in thousands):
1999
Medical
and Life
Service Cost $713
Interest Cost 870
Prior Service Cost (6)
57
(Gain)/Loss -------
Net postretirement costs $ 1,634
=======
Deferred Compensation Plans
---------------------------
In 1993, SERI began to partially compensate certain senior management
through a stock formula plan, which seeks to reward individuals for the
performance of the investments of SERI and its affiliated companies over a
period of four years, relative to the performance of SERI and Southern
Company.
Effective January 1, 1997 the Amended and Restated Deferred Incentive
Compensation Plan (DICP) and the Value Creation Plan were enacted. The
purposes of the Southern Energy, Inc. Amended and Restated Deferred
Incentive Compensation Plan is to provide a financial incentive which will
focus the efforts of certain executives on areas which will have a direct
and significant influence on the corporate performance of Southern Energy
Resources, Inc. and to provide the potential for levels of compensation
which will enhance the ability of the Company to attract, retain and
motivate such executives.
The Value Creation Plan grants Appreciation Rights that grow as SERI's
value grows, and can be exercised for the full appreciation amount after
four years (when the AR's are fully vested). The amount of the grant is
based on market data for a given job, adjusted for Southern Energy's
performance compared to net income and return on investment goals, as
determined by Management Council and approved by the Southern Company
Compensation Committee.
Participants credited with an account balance at December 31, 1996 under
the terms of the original deferred compensation plan have had such
balances converted into awards under this new plan based on the dollar
value of such account as of December 31, 1996 as determined under the
terms of the original plan. Thereafter, the converted award shall continue
to vest in accordance with their original terms under the original plan
but shall be adjusted annually based on SERI Value alone.
As the value of the award is not known until the vesting date, SERI
accounts for this formula plan as a variable plan; as such, the Company
regularly assesses the current value of the awards and adjusts its accrued
liability accordingly. At December 31, 1999 the Company had accrued
$5,745,101 related to the DICP plan, and $1,766,445 related to Value
Creation Plan, which are included in long-term liabilities in the
accompanying consolidated balance sheets.
In addition to the stock formula plan for senior officers, SERI partially
compensates employees associated with a specific successful project bid
effort through a deferred cash compensation program. Upon successful
completion of a bid, members directly affiliated with the effort receive a
cash bonus, half of the estimated final payment is paid immediately and
half of the estimated final payment is deferred for a period of two years
and paid based on the actual performance of the related investment. SERI
accrues amounts at the time the award is granted and adjusts the liability
accordingly when awards vest and are paid. At December 31, 1999 the
Company had accrued $3,899,613 related to this plan, which is included in
other accrued liabilities in the accompanying consolidated balance sheets.
<PAGE>
13-D
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any accounts thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
- -------------------------------------------------------------------------------
3. OPERATING LEASES
----------------
SERI has entered into noncancelable operating leases for office space. The
expenses under these leases were approximately $3,615,000 in 1999. These
leases contain certain concessions and escalations; therefore, rent
expense is recognized on a straight-line basis over the lease terms. The
future rental obligations for the remaining lease terms are as follows (in
thousands):
2000 $5,732
2001 8,422
2002 8,368
2003 8,368
2004 8,368
Thereafter 45,783
-------
Total minimum lease commitments $85,041
=======
4. RELATED-PARTY TRANSACTIONS
--------------------------
Additional Equity Contributions
-------------------------------
Southern Energy, Inc. (formerly SEI Holdings) contributed approximately
$90,138,000 and $83,788,000 in 1999 and 1998 respectively to paid-in
capital.
Services
--------
SERI has agreements with Southern Company Services, Inc. and each of the
system operating companies under which those companies provide the
following services to SERI at cost: general engineering, design
engineering, accounting and statistical budgeting, business promotion and
public relations, systems and procedures, training, and administrative and
financial services. In addition to these services, certain facilities of
the system companies are made available to SERI and its customers. SERI
reimburses the service company and the various operating companies at cost
for these services. Such costs in 1999 and 1998 amounted to approximately
$ 20,076,565 and $ 16,637,296, respectively.
<PAGE>
13-E
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XIV
NOTES TO FINANCIAL STATEMENTS
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
financial statements or any accounts thereof. Furnish
particulars as to any significant contingent assets or
liabilities existing at the end of the year. Notes relating to
financial statements shown elsewhere in this report may be
indicated here by reference.
- -------------------------------------------------------------------------------
SERI has a contract with Mobile Energy, an affiliated entity to operate
and maintain an energy complex in Mobile, Alabama for a period of 25 years
at cost. SERI has a similar agreement with Birchwood Power Partners, L.P.
("BPP") to operate and maintain its 220 megawatt coal-fired cogeneration
facility located in King George County, Virginia, for a period of 25 years
for a fee of $120,000 per year, adjusted annually for inflation.
5. CONTINGENCIES
-------------
Litigation With Former President
--------------------------------
In October 1991, a former SERI president filed suit in the Superior Court
of DeKalb County (Georgia) against Southern, SERI, and an executive vice
president of Southern. The plaintiff alleged defamation, breach of
contract, and intentional infliction of emotional distress arising from
his termination as president of SERI. Judgment in favor of the plaintiff
was awarded by the court during 1994 in the amount of $2,700,000, plus
legal costs of approximately $2,000,000. In 1994, SERI filed an insurance
claim for an amount equal to the total judgment. The Company's insurer has
elected to appeal the Superior Court's judgment. In the opinion of
management, any portion of the judgment ultimately deemed uninsurable will
not have a material adverse impact on the results of operations or
financial position of the Company.
Labor Subject to Collective Bargaining Agreements
-------------------------------------------------
Substantially all of the employees engaged in the operations and
maintenance at Mobile Energy, State Line Energy, L.L.C., SE New England,
and SE New York are subject to collective bargaining agreements, none of
which expired during 1999.
Other Matters
-------------
The Company is subject to other legal actions and claims arising in the
ordinary course of business. In the opinion of management, the disposition
of these matters will not have a material adverse impact on the results of
operations or financial position of the Company.
<PAGE>
<TABLE>
<CAPTION>
14
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- --------------------------------------------------------------------------------------------
SCHEDULE XV
STATEMENT OF INCOME
- --------------------------------------------------------------------------------------------
CURRENT PRIOR
ACCOUNT D E S C R I P T I O N YEAR YEAR
- --------------------------------------------------------------------------------------------
INCOME
<S> <C> <C> <C>
457 Charges rendered to associate companies 332,566 148,443
458 Services rendered to non-associate companies 12,466 14,383
421 Miscellaneous income or loss 117 212
------- -------
Total Income 345,149 163,040
- --------------------------------------------------------------------------------------------
EXPENSES
920 Salaries and wages 73,899 37,659
921 Office supplies/expense, Travel, & Auto 18,843 12,947
922 Administrative expense transferred - credit - (7)
923 Outside services employed 246,661 112,909
924 Property insurance 1,082 1,711
925 Injuries and damages 202 49
926 Employee pensions and benefits 39,864 21,019
928 Disposition of intellectual property - -
930.1 General advertising expense 44 84
930.2 Miscellaneous general expenses 2,478 1,794
931 Rents 5,377 3,798
932 Maintenance of structures and equipment 190 69
403 Depreciation and amortization expense 2,017 1,584
408 Taxes other than income taxes 4,270 4,489
409 Income taxes (17,139) (9,730)
410 Provision for deferred income taxes (74) 1,605
411 Provision for deferred income taxes - credit (125) (4,386)
411.5 Investment tax credit - -
Foreign taxes - -
426.1 Donations 355 167
426.5 Other deductions - -
427 Interest on long-term debt - -
430 Interest on debt to associate companies - -
431 Other interest expense 223 154
------- --------
Total Expense 378,166 185,915
------- --------
Net Income or (Loss) (33,017) (22,875)
- --------------------------------------------------------------------------------------------
INSTRUCTION: Provide a schedule briefly describing types of intercompany transactions.
</TABLE>
TRANSACTIONS WITH ASSOCIATE COMPANIES
- -------------------------------------
SERI has agreements with Southern Company Services, Inc. and each of the system
operating companies under which those companies provide the following services
to SERI at cost: general engineering, design engineering, accounting and
statistical, rates, budgeting, business promotion and public relations, systems
and procedures, training, administrative, and financial services. In addition to
these services, certain facilities of the system companies are made available to
SERI and its customers.
The service company and operating companies provide technical direction and
management of the services provided to SERI and its customers. SERI reimburses
the service company and operating companies at cost for these services.
<PAGE>
15
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
ANALYSIS OF BILLINGS
CHARGES TO
ASSOCIATE COMPANIES
ACCOUNT 457
- -------------------------------------------------------------------------------
TOTAL
NAME OF ASSOCIATE COMPANY AMOUNT
BILLED
- -------------------------------------------------------------------------------
SEI Cajun 8,447
CEMIG 449
CEPA 22,460
Edelnor S.A. 3,246
MESC 6,817
SE Inc 3,369
SCEM 7,430
SCS 9
SE California 11,623
SE Europe BV 3,173
SE Finance 1,755
SEI Inc. 810
SE NE 56,518
SE NY 23,769
SE Wichita Falls LP 8,661
SEB Holdings, Inc. 1,800
SEI Beteiligungs GMBH 979
SEI Birchwood 4,938
SEI Holdings, Inc. 1,175
SEI Michigan LLC 1,183
SEI Texas, LP 44,043
SEI Trinidad, Inc. 1,580
SEI Wisconsin 75,465
SEI World Wide Holdings Inc. 3,519
SENAG 3,991
SE Newco2 377
State Line 28,900
WPD 3,657
Other 2,423
- -------------------------------------------------------------------------------
TOTAL 332,566
- -------------------------------------------------------------------------------
<PAGE>
<TABLE>
<CAPTION>
16
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- ------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BILLING
-------------------
NON-ASSOCIATE COMPANIES
ACCOUNT 458
- ------------------------------------------------------------------------------------------------------------------
DESCRIPTION TOTAL COST EXCESS OR TOTAL AMOUNT
DEFICIENCY BILLED
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Consulting & Engineering 3,261 5,602 8,863
Information Systems - - -
Nuclear - - -
Franchises & Other - - -
Operations 52,059 (48,456) 3,603
Project Management - - -
Construction - - -
Pooled Inventory Management (PEICO) - - -
Good Cents - - -
------ ------ ------
TOTAL 55,320 (42,854) 12,466
------ ------- ------
INSTRUCTION: Provide a brief description of the sales and services rendered by category in accordance with your
sales and service contracts and list the amounts applicable per category.
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
17
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -----------------------------------------------------------------------------------------------------------------------------------
SCHEDULE XVII
SCHEDULE OF EXPENSE DISTRIBUTION
BY DEPARTMENT OR SERVICE FUNCTION
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
DEPARTMENT OR SERVICE FUNCTION
DESCRIPTION OF ITEMS TOTAL ------------------------------------------------
AMOUNT OVERHEAD SERI Operadora Asia & GmbH
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
920 SALARIES AND WAGES 73,899 73,899 - -
921 OFFICE SUPPLIES/EXPENSES & TRAVEL 18,843 18,843 - 9
922 ADMIN EXP TRANSFERRED - CREDIT - - - -
923 OUTSIDE SERVICES EMPLOYED 246,661 246,428 234 (1)
924 PROPERTY INSURANCE 1,082 1,082 - -
925 INJURIES AND DAMAGES 202 202 - -
926 EMPLOYEE PENSIONS AND BENEFITS 39,864 39,864 - -
928 DISPOSITION OF INTELLECTUAL PROP. - - - -
930.1 GENERAL ADVERTISING EXPENSE 44 44 - -
930.2 MISCELLANEOUS GENERAL EXPENSE 2,478 2,478 - -
931 RENTS 5,377 5,377 - -
932 MAINTENANCE OF STRUCTURES & EQUIP 189 189 - -
403 DEPRECIATION & AMORTIZATION EXP 2,017 2,017 - -
408 TAXES OTHER THAN INCOME TAX 4,270 4,270 - -
409 INCOME TAXES (17,139) (17,299) 160 -
410 PROVISION FOR DEFERRED INCOME TAX (74) (74) - -
411 PROV DEFERRED INCOME TAX - CREDIT (125) (125) - -
FOREIGN TAXES - - - -
411.5 INVESTMENT TAX CREDIT - - - -
426.1 DONATIONS 355 355 - -
426.5 OTHER DEDUCTIONS - - - -
427 INTEREST ON LONG TERM DEBT - - - -
430 INTEREST ON DEBT TO ASSOCIATE CO. - - - -
427 INTEREST EXPENSE DEFERRED 223 223 - -
- ---------------- ------------------------------------------------------------------------------------------------------------------
INSTRUCTION: Indicate each department or service function. 378,166 377,773 394 (1)
(See instruction 01-3 Gen'l Structure of Acc'ting Structure
System: Uniform System Account. TOTAL EXPENSES
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
18
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31, 1999
- -------------------------------------------------------------------------------
SCHEDULE XVII
SCHEDULES OF EXPENSE DISTRIBUTION
---------------------------------
BY DEPARTMENT OR FUNCTION
- -------------------------------------------------------------------------------
ACCOUNT NUMBER D E P A R T M E N T O R F U N C T I O N
- ----------------------- -------------------------------------------------
920 Not needed
921
922
923
924
925
926
928
930.1
930.2
931
932
403
408
409
410
411
411.5
426.1
426.5
427
430
431
- -------------------------------------------------------------------------------
<PAGE>
19
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
DEPARTMENTAL ANALYSIS OF SALARIES
ACCOUNT 920
- -------------------------------------------------------------------------------
SALARY NUMBER
NAME OF DEPARTMENT OR SERVICE FUNCTION EXPENSE PERSONNEL
-------------------------------
Indicate each department or service function. TOTAL AMOUNT END OF YEAR
- -------------------------------------------------------------------------------
SOUTHERN ENERGY RESOURCES, INC. 73,899 1,040
------ -------
TOTAL 73,899 1,040
------ ------
- ------------------------------------------------------------------------------
<PAGE>
20
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
DISPOSITION OF INTELLECTUAL PROPERTY
ACCOUNT 928
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provide a listing of the amount included in Account 928,
"Disposition of Intellectual Property", classifying such
expenses by associate company receiving compensation for
Disposition of Intellectual Property.
- -------------------------------------------------------------------------------
A S S O C I A T E C O M P A N Y AMOUNT
- -------------------------------------------------------------------------------
Not Applicable
-----
TOTAL -
-----
- -------------------------------------------------------------------------------
<PAGE>
21
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
MISCELLANEOUS GENERAL EXPENSES
ACCOUNT 930.2
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provide a listing of the amount in Account 930.2,
"Miscellaneous General Expenses", classifying such expenses
according to their nature. Payments and expenses permitted
by Section 321 (b) (2) of the Federal Election Campaign Act,
as amended by Public Law 94-283 in 1976 (2 U.S.C.S. 441 (b)
(2) shall be separately classified.
- -------------------------------------------------------------------------------
D E S C R I P T I O N AMOUNT
- -------------------------------------------------------------------------------
Dues and Memberships 103
Miscellaneous General Expense for : 1,242
Storage of records Jan - Dec 99
Birchwood Construction Costs
Inside move of Accounting and Construction Staff
Misc. purchases from the Atlanta Novelty Company
Annual license, certification & registration fees
Bank & wire transfer fee
Holiday Gala Expenses
Kitchen/Bathroom Supplies
Office cleaning
Petty cash expense
Miscellaneous Other Expenses
Bad Debt Expense 12
Impairment Loss 1,121
-----
TOTAL 2,478
-----
- -------------------------------------------------------------------------------
<PAGE>
22
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
TAXES OTHER THAN INCOME TAXES
ACCOUNT 408
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provide an analysis of Account 408, "Taxes Other Than Income
Taxes". Separate the analysis into two groups: (1) other
than U.S. Government taxes, and (2) U.S. Government taxes.
Specify each of the various kinds of taxes and show the
amounts thereof. Provide a subtotal for each class of tax.
- -------------------------------------------------------------------------------
K I N D O F T A X AMOUNT
- -------------------------------------------------------------------------------
Other than U.S. Government:
State Unemployment
Real Estate and Personal Property 2,401
Other State and Local Taxes and Licenses 314
Sales Tax 52
Taxes Other Than Income Taxes 626
Chile Withholding Tax expense 924
Misc. Taxes 8
Australia Expatriate Income tax - Employer -
Puerto Rico Income Tax - Employee Differential (2)
Foreign Tax Expense 43
Use Tax -
Expatriate Taxes (96)
---------
Subtotal 4,270
---------
--------
TOTAL 4,270
- -------------------------------------------------------------------------------
<PAGE>
23
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
DONATIONS
ACCOUNT 426.1
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provide a listing of the amount included in Account 426.1
"Donations", classifying such expenses by its purpose. The
aggregate number and amount of all items less than $3,000 may
be shown in lieu of details.
- -------------------------------------------------------------------------------
NAME OF RECIPIENT PURPOSE OF DONATION AMOUNT
- -------------------------------------- ----------------------------------------
Items ( Less than $3,000 each) Contributions 84
United Way of Metropolitan Atlanta Corporate Contribution 25
American Academy in Berlin Corporate Contribution 60
Grand Bahamas Children' Center Corporate Contribution 5
Cystic Fibrosis Foundation Corporate Contribution 6
Carter Center Corporate Contribution 6
En Cuentro Las Americas Charitable Contribution 10
Circle for the Children Charitable Contribution 5
American Cancer Society Corporate Contribution 5
Dominican College Corporate Contribution 3
University of West Indies Corporate Contribution 10
University of Texas Corporate Contribution 100
San Francisco Summit for Women Corporate Contribution 25
Metro Altanta YMCA Corporate Contribution 5
Goizueta Business School Corporate Contribution 7
------
TOTAL 355
------
- -------------------------------------------------------------------------------
<PAGE>
24
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
OTHER DEDUCTIONS
ACCOUNT 426.5
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provide a listing of the amount included in Account 426.5
"Other Deductions", classifying such expenses according to
their nature.
- -------------------------------------------------------------------------------
AMOUNT
D E S C R I P T I O N NAME OF PAYEE BILLED
- -------------------------------------------------------------------------------
All deductions less than two hundred dollars.
---------
TOTAL
- -------------------------------------------------------------------------------
<PAGE>
25
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
SCHEDULE XVIII
NOTES TO STATEMENT OF INCOME
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: The space below is provided for important notes regarding the
statement of income or any account thereof. Furnish particulars
as to any significant increase in services rendered or expenses
incurred during the year. Notes relating to financial statements
shown elsewhere in this report may be indicated here by
eference.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
<PAGE>
26
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
For the Year Ended December 31,1999
- -------------------------------------------------------------------------------
SCHEDULE XIX
OUTSIDE SERVICES EMPLOYED 923
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
INSTRUCTIONS: Provided below is a break down of outside services employed.
- -------------------------------------------------------------------------------
1999 1998
---- ----
Legal Fees 16,410 11,869
Accounting and Audit Fees 12 104
Alabama Power Company 69 109
Georgia Power Company 700 931
Gulf Power Company 8 8
Mississippi Power Company 13 11
Southern Company Services 25,930 15,716
Savannah Electric Company 12 63
Southern Development & Investment Group - (162)
Other Outside Companies 1) 202,821 84,260
SCEM Service Charges 685 -
------- -------
TOTAL 246,661 112,909
- -------------------------------------------------------------------------------
1) Detail of Other Outside Companies for 1999 is as follows:
----
Consulting Meals 34
Engineering 481
Computer consulting 137
Temporary office services 2,559
Consulting (non financial) 31,115
Construction subcontractors 97
Subscriptions 69
Charges billed for audit & professional services 160,896
Operations and Maintenance 6,842
Other Outside Co(agent fees, license renewals, etc.) 591
---
TOTAL 202,821
<PAGE>
27
ANNUAL REPORT OF SOUTHERN ENERGY RESOURCES, INC.
ORGANIZATION CHART OF SOUTHERN ENERGY RESOURCES, INC.
S. Marce Fuller/President and CEO
Vance N. Booker/ Senior Vice President, Administration & External Affairs
Doug Miller/Senior Vice President, Corporate Counsel
Tommy Chisholm/Vice President and Corporate Secretary
Jim Jacobson / Director, Internal Auditing
Raymond D. Hill / Executive Vice President and Chief Financial Officer
Bill Holden / Vice President and Treasurer
Bill Maner, III / Vice President
Rick Kuester / Senior Vice President & CEO, Asia Group
James Ward / Senior Vice President, Finance and Accounting
Richard Pershing / Executive Vice President, International Division
Gary Morsches / CEO, Southern Company Energy Marketing
J.R. / Vice President, Operations & Development
South America/Caribbean
Mike Harreld / Senior Vice President & Controller,
North America Group
Anne Cleary / Vice President, North American Business
Development
Randy Harrison / CEO, Southern Energy California
Sean Murphy / CEO, Southern Energy New England
Craig Lesser / CEO, Southern Energy New York
David Rozier / Vice President, Mid-Continent
David Gallaspy / CEO, Southern Energy Texas/Louisiana
Barney Rush / Senior Vice President/CEO, Europe Group
Paul Bowers / President & CEO, South Western Electricity of
Bristol (SWEB)
Jason Harlan / Vice President, Marketing & Development Europe
Rick Owen / Vice President, Europe
Andy Dearman/Senior Vice President, Chief Techinical Officer
Mike Childers / Vice President, Environmental Affairs
Alan Harrelson / Vice President, Construction
Ron Leggett / Vice President, Power Generation
ORGANIZATION CHART OF SEI OPERADORA DE ARGENTINA, S.A.
J. William Holden, III/ President of the Board
Ricardo Falabella / Vice President of the Board
Mariano F. Grondona/Secretary of the Board
ORGANIZATION CHART OF SEI BETEILIGUNGS GmbH
Raymond D. Hill / General Manager
Tommy Chisholm / General Manager
James Ward / General Manager
ORGANIZATION CHART OF SEI ASIA
Raymond D. Hill / President
Carson B. Harreld / Vice President & Treasurer
James J. Coppola, Jr / Comptroller, Assistant Secretary & Assistant
Treasurer
Exhibit D-2
INCOME TAX ALLOCATION AGREEMENT
SEVENTY-SEVENTH AMENDMENT
DG Lease, Inc. was incorporated in 1999 and is wholly owned by Southern Energy
Finance Company, Inc. DG Lease, Inc. does hereby declare and agree to the terms
and conditions provided in the Income Tax Allocation Agreement dated December
29, 1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
November, 1999.
ATTEST DG Lease, Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
SEVENTY-EIGHTH AMENDMENT
SE Finance Capital Corporation was incorporated in 1999 and is wholly owned by
Southern Energy, Inc. SE Finance Capital Corporation does hereby declare and
agree to the terms and conditions provided in the Income Tax Allocation
Agreement dated December 29, 1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
November, 1999.
ATTEST SE Finance Capital Corporation
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
SEVENTY-NINTH AMENDMENT
GAMOG Lease, Inc. was incorporated in 1999 and is wholly owned by SE Finance
Capital Corporation. GAMOG Lease, Inc. does hereby declare and agree to the
terms and conditions provided in the Income Tax Allocation Agreement dated
December 29, 1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST GAMOG Lease, Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTIETH AMENDMENT
Southern Energy North America Generating, Inc. was incorporated in 1999 and is
wholly owned by Southern Energy North America, Inc. Southern Energy North
America Generating, Inc. does hereby declare and agree to the terms and
conditions provided in the Income Tax Allocation Agreement dated December 29,
1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST Southern Energy North America
Generating, Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTY-FIRST AMENDMENT
Southern Energy New England Investments, Inc. was incorporated in 1999 and is
wholly owned by Southern Energy North America Generating, Inc. Southern Energy
New England Investments, Inc. does hereby declare and agree to the terms and
conditions provided in the Income Tax Allocation Agreement dated December 29,
1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST Southern Energy New England Investments,
Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTY-SECOND AMENDMENT
Southern Energy New England (G.P.), Inc. was incorporated in 1999 and is wholly
owned by Southern Energy North America Generating, Inc. Southern Energy New
England (G.P.), Inc. does hereby declare and agree to the terms and conditions
provided in the Income Tax Allocation Agreement dated December 29, 1981, as
amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST Southern Energy New England (G.P.), Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTY-THIRD AMENDMENT
Southern Energy Wichita Falls Investments, Inc. was incorporated in 1999 and is
wholly owned by Southern Energy North America, Inc. Southern Energy Wichita
Falls Investments, Inc. does hereby declare and agree to the terms and
conditions provided in the Income Tax Allocation Agreement dated December 29,
1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST Southern Energy Wichita Falls
Investments, Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTY-FOURTH AMENDMENT
Southern Energy Wichita Falls Management (G.P.), Inc. was incorporated in 1999
and is wholly owned by Southern Energy North America, Inc. Southern Energy
Wichita Falls Management (G.P.), Inc. does hereby declare and agree to the terms
and conditions provided in the Income Tax Allocation Agreement dated December
29, 1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST Southern Energy Wichita Falls Management
(G.P.), Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTY-FIFTH AMENDMENT
SEI Michigan Holdings, Inc. was incorporated in 1999 and is wholly owned by
Southern Energy North America, Inc. SEI Michigan Holdings, Inc. does hereby
declare and agree to the terms and conditions provided in the Income Tax
Allocation Agreement dated December 29, 1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST SEI Michigan Holdings, Inc.
__________________________________ BY: _________________________________
<PAGE>
INCOME TAX ALLOCATION AGREEMENT
EIGHTY-SIXTH AMENDMENT
Southern Energy Netherlands Management Company, Inc. was incorporated in 1999
and is wholly owned by Southern Energy Netherlands, Ltd. Southern Energy
Netherlands Management Company, Inc. does hereby declare and agree to the terms
and conditions provided in the Income Tax Allocation Agreement dated December
29, 1981, as amended on April 19, 1988.
Effective Date
This Agreement is effective for the Consolidated Tax reflected on the
Consolidated Tax Return for 1999.
IN WITNESS HEREOF, this Agreement has been executed, as of the _______day of
February, 2000.
ATTEST Southern Energy Netherlands Management
Company, Inc.
__________________________________ BY: _________________________________
<PAGE>
<TABLE>
<CAPTION>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
<S> <C> <C>
Southern Energy, Inc. (formerly SEI Holdings, Inc.) (Holdings)
(100% - The Southern Company)
Southern Energy Resources, Inc. (formerly Southern Energy, Inc.) (Special Purpose Subsidiary - Project Development)
(100% - Holdings)
SEI Operadora de Argentina, S.A. (FUCO)
(99.99% - Southern Energy Resources, Inc.; .01% - Holdings)
Southern Electric International Asia, Inc. (Special Purpose Subsidiary - Project Development)
(100% - Southern Energy Resources, Inc.)
Southern Electric International, GmbH (Special Purpose Subsidiary
- Project Development) (100% - Southern Energy Resources, Inc.)
Asociados de Electricidad, S.A. (Intermediate Subsidiary)
(100% Holdings)
Southern Electric International, Inc. (Intermediate Subsidiary)
(100 % Holdings)
Southern Electric, Inc. (EWG)
(100% - Holdings)
Southern Energy North America, Inc. (Domestic Holdings)
(100% - Holdings)
SEI Michigan Holdings, Inc. (Intermediate Holdings)
(100% - Southern Energy North America, Inc.)
SEI Michigan, LLC (EWG) (100% - SEI Michigan Holdings,
Inc.)
Southern Energy North America Generating, Inc. (Intermediate Holdings)
(100% - Southern Energy North America, Inc.)
SEI State Line, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
State Line Holding Corporation (Intermediate
Subsidiary) (100% - SEI State Line, Inc.)
State Line Energy, L.L.C. (EWG)
(60% - SEI State Line, Inc.; 40% - State Line Holding Corporation)
Southern Energy New York, G.P., Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy Hudson Valley Investments, Ltd. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy Bowline, L.L.C. (EWG)
(99% - Southern Energy Hudson Valley Investments, Inc.; 1% - Southern Energy
New York, G.P., Inc.)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy North-America, Inc. - CONTINUED
Southern Energy North America Generating, Inc. - CONTINUED
Southern Energy Hudson Valley Investments, Ltd. - CONTINUED
Southern Energy Lovett, L.L.C. (EWG)
(99% - Southern Energy Hudson Valley Investments, Inc.; 1% - Southern Energy
New York, G.P., Inc.)
Southern Energy NY-Gen, L.L.C. (EWG)
(99% - Southern Energy Hudson Valley Investments, Inc.; 1% - Southern Energy
New York, G.P., Inc.)
Southern Energy Bay Area Investments, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy Golden State Holding Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy California, L.L.C. (EWG)
(50% - Southern Energy Bay Area Investments; 50% - Southern Energy Golden
State Holdings, Inc.)
Southern Energy Delta, L.L.C. (EWG)
(100% - Southern Energy California, L.L.C.)
Southern Energy Potrero, L.L.C. (EWG)
(100% - Southern Energy California, L.L.C.)
Southern Energy New England Investments, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy New England (G.P.), Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy Canal, L.L.C. (EWG)
(99% - Southern Energy New England Investments, Inc.; 1% - Southern Energy New England (G.P.), Inc.)
Southern Energy Kendall, L.L.C. (EWG)
(99% - Southern Energy New England Investments, Inc.; 1% - Southern Energy New England (G.P.), Inc.)
Southern Energy Canal III, L.L.C. (Special Purpose Subsidiary)
(99% - Southern Energy New England Investments, Inc.; 1% - Southern Energy New England (G.P.), Inc.)
SEI Wisconsin Holdings, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
SEI Wisconsin, L.L.C. (EWG)
(100 %- SEI Wisconsin Holding, Inc.)
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy North-America, Inc. - CONTINUED
Southern Energy North America Generating, Inc. - CONTINUED
Southern Energy Texas (G.P.), Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy Southwest Investments, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America Generating, Inc.)
Southern Energy Central Texas, L.P. (Special Purpose Subsidiary)
(99% - Southern Energy Southwest Investments, Inc.; 1% Southern Energy Texas (G.P.), Inc.)
SEI Texas, L.P. (EWG)
(99% - Southern Energy Southwest Investments, Inc.; 1% Southern Energy Texas (G.P.), Inc.)
Mobile Development Company (Special Purpose Subsidiary) (100% -
Southern Energy North America, Inc.)
Southern Energy Ventures, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
Southern Energy Trading and Marketing, Inc. (Energy-Related Company)
(100% - Southern Energy Ventures, Inc.)
SC Energy Ventures, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Trading and Marketing, Inc.)
Southern Company Energy Marketing L.P. (Rule 58 Energy-Related Company)
(59.4% - SC Energy Ventures, Inc.; 39.6% - Domestic Corporation;
1% - Southern Company Energy Marketing G.P., L.L.C.)
Southern Company Retail Energy Marketing L.P. (Rule 58 Energy-Related Company)
(99% - Southern Company Energy Marketing L.P.; 1% - Southern Company Energy
Marketing G.P., L.L.C.)
Southern Producer Services, LLP (Rule 58 Energy-
Related Company) (99% - SC Energy Ventures, Inc.;
1% - SC Ashwood Holdings, Inc.)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy North-America, Inc. - CONTINUED
Southern Energy Ventures, Inc. CONTINUED
Southern Energy Trading and Marketing, Inc. CONTINUED
Southern Energy Retail Trading and Marketing, Inc. (Energy-Related Company)
(100% - Southern Energy Trading and Marketing, Inc.)
SC Ashwood Holdings, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Trading and Marketing, Inc.)
Southern Company Energy Marketing G.P., L.L.C. (Intermediate Subsidiary)
(60% - SC Ashwood Holdings, Inc.; 40% - Domestic Corporation)
SEI Birchwood, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
Birchwood Power Partners, LP (EWG)
(50% - SEI Birchwood, Inc.; 50% - Domestic Corporation)
Greenhost, Inc. (Authorized by Order of 11/20/96))
(50% - SEI Birchwood, Inc.; 50% - Domestic Corporation)
SEI Hawaiian Cogenerators, Inc. (EWG)
(100% - Southern Energy North America, Inc.)
Southern Energy-Cajun, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
SEI New England Holding Corp. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
SEI New England, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
Southern Energy New England, L.L.C. (EWG)
(50% - SEI New England Holding Corp; 50% - SEI New England Inc.)
Southern Energy Wichita Falls Management G.P., Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
Southern Energy Wichita Falls Investment, Inc. (Intermediate Subsidiary)
(100% - Southern Energy North America, Inc.)
Southern Energy Wichita Falls, L.P. (EWG)
(99% - Southern Energy Wichita Falls Investment, Inc.; 1% - Southern Energy
Wichita Falls Management G.P., Inc.)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. (Foreign Holdings)
(100% - Holdings)
Southern Energy do Brazil Ltda. (Special Purpose Subsidiary - Project Development)
(99.99% - Southern Energy International, Inc.; .1% - Southern Energy Resources, Inc.)
Southern Energy - Asia, Inc. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
Southern Energy Asia Ventures, Inc. (Intermediate Subsidiary)
(100% Southern Energy -Asia, Inc.)
Consolidated Electric Power Asia Limited (Special Purpose Subsidiary) (NOTE 1)
(90.0% - Southern Energy - Asia, Inc.; 10% Southern Energy Asia Ventures, Inc.) (NOTE 2)
CEPA Pagbilao Limited (formerly Hopewell Energy International Limited) (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
Southern Energy Holdings Philippines, Inc. (Intermediate Subsidiary)
(71.94% - CEPA Pagbilao Limited; 18.08% -
CEPA Mobile Power Systems (BVI) Corporation;
9.98% - Navotas II Holdings (BVI) Corp.;
0.000022% - CEPA Navotas I Limited) *
Southern Energy Quezon, Inc. (formerly Hopewell Power (Philippines),
Corp.) (FUCO)
(87.22% - Southern Energy Holdings Philippines, Inc; 12.78% Third parties)
Southern Energy Mobile, Inc. (formerly Hopewell Mobile Power
Systems Corp.) (FUCO)
(100% - Southern Energy Holdings Philippines, Inc.)
CEPA Services Corp. (Special Purpose Subsidiary)
(100% - Southern Energy Mobile, Inc.)
Southern Energy Navotas II Power, Inc. (formerly Hopewell Tileman
(Philippines) Corp.) (FUCO)
(100% - Southern Energy Holdings Philippines, Inc.)
Southern Energy China, Ltd. (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
* The percentage is based on the voting shares only.
<PAGE>
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy - Asia, Inc. - CONTINUED
Southern Energy Asia Ventures, Inc. - CONTINUED
Consolidated Electric Power Asia Limited - CONTINUED
CEPA Navotas I Limited (formerly Hopewell Project Management Company Limited)
(Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited )
Southern Energy Project Holdings Philippines, Inc. (Special Purpose Subsidiary)
(100%- CEPA Navotas I Limited)
Southern Energy Navotas, Inc. (formerly Hopewell Energy (Philippines),
Corp.) (FUCO)
(60.1%- CEPA Navotas I Limited;
29.9% Southern Energy Holdings Philippines, Inc.; 10% -Third party)
Navotas II Holdings (BVI) Corp (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Mobile Power Systems (BVI) Corporation (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Guangxi Energy Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Eastern Power Plant Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Construction (Hong Kong) Limited (Special Purpose Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
Sual Construction Corporation (Special Purpose Subsidiary)
(100% - CEPA Construction (Hong Kong) Limited)
<PAGE>
04/29/00, 8:17 PM Page -
21
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy - Asia, Inc. - CONTINUED
Southern Energy Asia Ventures Inc. - CONTINUED
Consolidated Electric Power Asia Limited - CONTINUED
CEPA Construction (Hong Kong) Limited - CONTINUED
Southern Energy Resources and Development Corporation (formerly Pagbilao
Shipping Corporation) (Special Purpose Subsidiary)
(40% - CEPA Construction (Hong Kong) Limited; 60% - Edgardo Bautista)
CEPA International Finance Corporation (Intermediate Subsidiary)
(100% Consolidated Electric Power Asia Limited)
Stenus Limited (Intermediate Subsidiary)
(100% - CEPA International Finance Corporation)
Southern Energy (Shajiao C) Limited (Intermediate Subsidiary)
(79.99% - CEPA International Finance Corporation; 0.01% - Stenus Limited;
20% - Third parties)
Guangdong Guanghope Power Co., Ltd. (FUCO)
(40% - Southern Energy (Shajiao C) Limited; 60% - Third
party)
CEPA Pangasinan Electric Limited (Intermediate Subsidiary)
(100% Consolidated Electric Power Asia Limited)
Southern Energy Pangasinan, Inc. (formerly, Pangasinan Electric Corporation)
(FUCO)
(91.91% - CEPA Pangasinan Electric Limited; 8.09% - Third parties)
Southern Energy Sual Holdings, Inc. (FUCO)
(100% - CEPA Pangasinan Electric Corporation)
CEPA Pakistan (BVI) Limited (Intermediate Subsidiary)
(100% Consolidated Electric Power Asia Limited)
CEPA Energy Pakistan Limited (in
liquidation) (FUCO) (100% - CEPA Pakistan
(BVI) Limited)
CEPA Nominee (BVI) Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
<PAGE>
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy - Asia, Inc. - CONTINUED
Southern Energy Asia Ventures Inc. - CONTINUED
Consolidated Electric Power Asia Limited - CONTINUED
Tranquil Star Corporation (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Thailand (BVI) Limited (Intermediate Subsidiary)
(100% - Tranquil Star Corporation)
CEPA India (BVI) Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Investment (Mauritius) Limited (Intermediate Subsidiary)
(100% - CEPA India (BVI) Limited)
CEPA Operations, (Hong Kong) Limited (Special Purpose Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Operations (Philippines) Corp. (Special Purpose Subsidiary)
(100% - CEPA Operations, (Hong Kong) Limited)
CEPA Project Management and Engineering (BVI) Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Fuels Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
Marsford Investments Pte Ltd. (Intermediate Subsidiary)
(100% - CEPA Fuels Limited)
Allied Queensland Coalfields Pty Ltd
(formerly, Allied Queensland Coalfields
Ltd.) (Special Purpose Subsidiary) (95.17% -
CEPA Fuels Limited; 4.83% - Marsford
Investments Pte Ltd.)
Aberdare Collieries Pty Ltd (Special
Purpose Subsidiary) (100% - Allied
Queensland Coalfields Pty Ltd.)
New Whitwood Collieries Pty Ltd. (Special Purpose Subsidiary)
(100% - Aberdare Collieries Pty Ltd.)
Riverview Coal Terminal Pty Ltd. (Special Purpose Subsidiary)
(100% - Aberdare Collieries Pty Ltd.)
AQC (Kogan Creek) Pty Ltd (Special
Purpose Subsidiary) (100% - Allied
Queensland Coalfields Pty Ltd.)
AQC (Wilkie Creek) Pty Ltd
(Special Purpose Subsidiary)
(100% - AQC (Kogan Creek) Pty
Ltd.)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy - Asia, Inc. - CONTINUED
Southern Energy Asia Ventures Inc. - CONTINUED
Consolidated Electric Power Asia Limited - CONTINUED
CEPA Fuels Limited - CONTINUED
Allied Queensland Coalfields Pty Ltd - CONTINUED
Baralaba Coal Pty Ltd (Special
Purpose Subsidiary) (100% - Allied
Queensland Coalfields Pty Ltd.)
Lemon Grove Investments Pty Ltd. (Special Purpose Subsidiary)
(100% - Allied Queensland Coalfields Pty Ltd.)
Tiaro Coal Pty Ltd. (Special Purpose Subsidiary)
(100% - Allied Queensland Coalfields Pty Ltd.)
CEPA Australia (BVI) Limited (Intermediate Subsidiary)
(100% - Consolidated Electric Power Asia Limited)
CEPA Holding Australia Pty Ltd. (Intermediate Subsidiary)
(100% - CEPA Australia (BVI) Limited)
CEPA (Kogan Creek) Holding Pty Ltd. (Special Purpose Subsidiary)
(100% - CEPA Holding Australia Pty Ltd.)
CEPA (Kogan Creek) Leasing I Pty Ltd. (Special Purpose
Subsidiary)
(100% - CEPA (Kogan Creek) Holding Pty Ltd.)
CEPA (Kogan Creek) Leasing II Pty Ltd. (Special Purpose
Subsidiary)
(100% - CEPA (Kogan Creek) Holding Pty Ltd.)
CEPA (Kogan Creek) Leasing III Pty Ltd. (Special Purpose
Subsidiary)
(100% - CEPA (Kogan Creek) Holding Pty Ltd.)
CEPA (Kogan Creek) Leasing IV Pty Ltd. (Special Purpose
Subsidiary)
(100% - CEPA (Kogan Creek) Holding Pty Ltd.)
Kogan Creek Power Project Joint Venture
(12% - CEPA (Kogan Creek) Leasing I Pty Ltd.; 12% -
CEPA (Kogan Creek) Leasing II Pty Ltd.; 25% - CEPA
(Kogan Creek) Leasing III Pty Ltd.; 51% - CEPA (Kogan
Creek) Leasing IV Pty Ltd.)
Southern Electric International - Netherlands, BV (Intermediate
Subsidiary) (100% - Southern Energy International, Inc.)
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Electric International Finance, Inc. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
Southern Energy Europe, Inc. (Intermediate Subsidiary)
(100% Southern Energy International, Inc.)
Southern Energy UK Generation Limited (Intermediate
Subsidiary) (100% - Southern Energy Europe, Inc.)
Southern Energy Development - Europe Limited (Intermediate
Subsidiary) (100% - Southern Energy Europe, Inc.)
Southern Energy Development Hungaria, L.L.C. (Special Purpose Subsidiary)
(100% - Southern Energy Europe, Inc.)
The Southern Company - Europe, plc (Intermediate Subsidiary)
(99% - Southern Energy Europe, Inc., 1% - Southern Energy Inc.)
Southern Energy Netherlands, Ltd. (Intermediate Subsidiary)
(100% - Southern Energy Europe, Inc.)
Southern Energy Europe Investments, Ltd. (Intermediate Subsidiary)
(100% - Southern Energy Netherlands, Ltd.)
Southern Energy Netherlands, B.V. (Dutch) (Intermediate Subsidiary)
(50% - Southern Energy Netherlands, Ltd.; 50% - Southern Energy Europe Investments Ltd.)
Southern Energy - Europe B.V. (Dutch) (FUCO)
(100% - Southern Energy Netherlands B.V.)
Southern Energy Netherlands Management Company, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Netherlands, Ltd.)
Southern Electric International - Europe, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Europe, Inc.)
SEI Beteilligungs, GmbH (Intermediate Subsidiary)
(100% - Southern Electric International - Europe,
Inc.)
P.T. Tarahan Power Company (Special Purpose Subsidiary)
(55% - SEI Beteilligungs, GmbH; 2.5% - Domestic Corporation;
42.5% - Foreign Company)
Southern Energy Europe Investments, Ltd. (Intermediate Subsidiary)
(100% - Southern Electric International - Europe, Inc.)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy Europe, Inc. - CONTINUED
Southern Electric International - Europe, Inc. - CONTINUED
Southern Energy Europe Investments, Ltd. - CONTINUED
SEI Europe UK Limited (Intermediate Subsidiary)
(50% - Southern Energy Europe Investments, Ltd.; 50%- Southern Electric International - Europe, Inc.)
SWEB Holdings UK (Intermediate Subsidiary) (49% - SEI
Europe UK Limited; 51% - Domestic Corporation)
SWEB Holdings Limited (Intermediate Subsidiary)
(100% - SWEB Holdings UK)
Southern Investment UK plc (Intermediate Subsidiary)
(100% - SWEB Holdings Limited)
SWEB Energy Purchasing Business Limited
(FUCO) (100% - Southern Investment UK plc)
South Western Electricity plc (FUCO) (NOTE 1)
(100% - Southern Investment UK plc)
SWEB Investments Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
South Western Helicopters Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
AZTEC Insurance Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Insurance Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Investments 1996 Limited (FUCO
Subsidiary) (100% - South Western
Electricity plc)
Croeso Systems Development Limited (FUCO
Subsidiary)
(50% - SWEB Investments 1996 Limited)
Midlands Enterprise Fund (FUCO Subsidiary)
(26.80% - SWEB Investments 1996 Limited)
ebusiness South West Limited (FUCO Subsidiary)
(45% - SWEB Investments 1996 Limited)
SWEB Property Investments Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy Europe, Inc. - CONTINUED
Southern Electric International - Europe, Inc. - CONTINUED
Southern Energy Europe Investments, Ltd. - CONTINUED
SEI Europe UK Limited - CONTINUED
SWEB Holdings UK - CONTINUED
SWEB Holdings Limited - CONTINUED
Southern Investments UK plc - CONTINUED
South Western Electricity plc - CONTINUED
SWEB Property Developments Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
Temple Back Developments Limited (FUCO Subsidiary)
(49.0% - SWEB Property Developments Limited)
Weston-Super-Mare Developments Limited (FUCO Subsidiary)
(100.0% - Temple Back Developments Limited)
South Western Power Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
South Western Power Investments Limited (FUCO Subsidiary)
(100% - South Western Power Limited)
Teeside Power Limited (FUCO Subsidiary)
(7.7% - South Western Power Investments
Limited)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy, Europe, Inc. - CONTINUED
Southern Electric International - Europe, Inc. - CONTINUED
SEI Europe UK Limited - CONTINUED
SWEB Holdings UK - CONTINUED
SWEB Holdings Limited - CONTINUED
Southern Investment UK plc - CONTINUED
South Western Electricity plc - CONTINUED
South Western Power Limited -
CONTINUED South Western
Power Investments
Limited - CONT.
Wind Electric Limited (FUCO Subsidiary)
(11.7% - South Western Power Investments
Limited)
WindResources Limited (FUCO Subsidiary)
(45% - South Western Power Investments
Limited)
Carland Cross Limited (FUCO Subsidiary)
(100% - Wind Resources Limited)
Coal Clough Limited (FUCO Subsidiary)
(100% - Wind Resources Limited)
Winterton Power Limited (FUCO Subsidiary)
(25% - South Western Power Investments Limited)
Green Electron Limited (FUCO Subsidiary)
(90% - South Western Power Limited; 10% Foreign
Corporation)
SWEB Data Collection Services Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
Concorde House Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
Electricity Association EA Technology Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
Non-Fossil Purchasing Agency Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
ElectraLink Limited (FUCO Subsidiary)
(6.19% - South Western Electricity plc)
South Western Energy Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
South Western Natural Gas Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy, Europe, Inc. - CONTINUED
Southern Electric International - Europe, Inc. - CONTINUED
SEI Europe UK Limited - CONTINUED
SWEB Holdings UK - CONTINUED
SWEB Holdings Limited - CONTINUED
Southern Investment UK plc - CONTINUED
South Western Electricity plc - CONTINUED
SWEB Finance Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Gas Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
REC Collect Limited (FUCO Subsidiary)
(25% - South Western Electricity plc)
South Western Electricity Share Scheme Trustees Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
Electricity Pensions Trustee Limited (FUCO Subsidiary)
(5% - South Western Electricity plc)
St. Clements Services Limited (FUCO Subsidiary)
(9.1% - South Western Electricity plc)
Electricity Pensions Limited (FUCO Subsidiary)
(Limited by Guarantee - South Western Electricity plc)
ESN Holdings Limited (FUCO Subsidiary)
(4.5% - South Western Electricity plc)
Electricity Association Limited (FUCO Subsidiary)
(5.9% - South Western Electricity plc)
Northmere Limited (FUCO Subsidiary)
(Limited by Guarantee - South Western Electricity plc)
South West Enterprise Limited (FUCO Subsidiary)
(Limited by Guarantee - South Western Electricity plc)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy, Europe, Inc. - CONTINUED
Southern Electric International - Europe, Inc. - CONTINUED
SEI Europe UK Limited - CONTINUED
SWEB Holdings UK - CONTINUED
SWEB Holdings Limited - CONTINUED
Southern Investment UK plc - CONTINUED
South Western Electricity plc - CONTINUED
SWEB Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Retail Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Natural Gas Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Pension Trustee Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SWEB Telecom Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
UK Data Collection Service Limited (FUCO Subsidiary)
(8.33% - South Western Electricity plc)
Western Natural Gas Limited (FUCO Subsidiary)
(100% - South Western Electricity plc)
SEI Brazil Holdings, Inc. (Intermediate Subsidiary)
(100 % - Southern Energy International, Inc.)
SEI South America, Inc. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
Southern Energy Caribe, Ltd. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
Southern Energy - Newco2, Inc. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
SEI Chile, SA (Intermediate Subsidiary)
(99.99% - Southern Energy - Newco2, Inc., .001% - Southern Energy, Inc.)
Energia del Pacifico Limitada (Intermediate
Subsidiary) (99.9% - SEI Chile, SA, .1% - Southern
Energy International, Inc.)
Gasoducto Nor Andino Argentina, S.A. (Intermediate Subsidiary)
(33.33% - Energia del Limitada,; 66.67% - Tractebel)
Gasoducto Nor Andino S.A. (Intermediate Subsidiary)
(33.33% - Energia del Limitada; 66.67% - Tractebel)
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
Southern Energy - Newco2, Inc. - CONTINUED
SEI Chile, SA - CONTINUED
Empressa Electrica del Norte Grande, SA (FUCO)
(82.34034% - SEI Chile, SA; 8.81% - Foreign Government; 8.850% - Natural Persons)
Sitranor S.A. (Intermediate Subsidiary)
(60% - Empressa Electrica del Norte Grande, SA; 20% - CODELCO; 20% ELECTROANDINA)
Southern Electric Bahamas Holdings, Limited (Intermediate
Subsidiary) (100% - Southern Energy - Newco2, Inc.)
Southern Electric Bahamas, Ltd (Intermediate Subsidiary)
(100% - Southern Electric Bahamas Holdings, Limited)
ICD Utilities Limited (Intermediate Subsidiary)
(25% - Southern Electric Bahamas, Ltd; 75% - Foreign Company)
Freeport Power Company Limited (FUCO)
(50% - Southern Electric Bahamas, Ltd; 50% - ICDU Utilities Limited)
Cayman Energy Traders (Intermediate Subsidiary)
(27.59% - Southern Energy International, Inc.; 72.41% - Domestic Corporation)
Southern Electric do Brasil Participacoes, Limitada (Intermediate Subsidiary)
(90.6% - Cayman Energy Traders; 9.4% - Foreign Pension Fund)
Companhia Energetica de Minas Gerais (CEMIG) (FUCO)
(14.41% - Southern Electric do Brasil Participacoes, Limitada; 24.3% - Foreign
Government; 20.99% - General Public; 40.30% - Foreign Companies)
Southern Energy E Associados Particpacoes, S.A. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
SEI Germany - BEWAG, Inc. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
SEI Worldwide Holdings, Inc. (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
SEI Worldwide Holdings (Germany) GmbH (Intermediate
Subsidiary) (50% - SEI Germany - BEWAG, Inc.; 50% - SEI
Worldwide Holdings, Inc.)
Southern Energy Holding Beteiligungsgesellschaft GmbH (Intermediate Subsidiary)
(100% - SEI Worldwide Holdings (Germany) GmbH)
BEWAG ( FUCO)
(26% - Southern Energy Holding Beteiligungsgesellschaft GmbH,
74% Other Foreign Persons )
Southern Energy Development-Europa GmbH (Special Purpose Subsidiary)
(100% - SEI Worldwide Holdings (Germany) GmbH)
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy International, Inc. - CONTINUED
SEI Worldwide Holdings, Inc. - CONTINUED
SEI Worldwide Holdings (Germany) GmbH - CONTINUED
SEI y Asociados de Argentina, S.A. (Intermediate Subsidiary)
(45.79% - SEI Worldwide Holdings GmbH; 7.14%- Asociados de Electricidad, S.A.;
40.52% - Holdings: 5.55% - Foreign Corporation; 1% - Domestic Company)
Hidroelectrica Alicura, S.A. (FUCO)
(59% - SEI y Asociados de Argentina, S.A.; 41% - Foreign Government)
Southern Electric International Trinidad, Inc. (EWG)
(100% - Southern Energy International, Inc.)
The Power Generation Company of Trinidad & Tobago Limited (EWG)
(39% - Southern Electric International Trinidad, Inc.; 51% - Foreign Government;
10% - Domestic Corporation)
SE China Investments (Intermediate Subsidiary)
(100% - Southern Energy International, Inc.)
Southern Energy Mauritius Limited (Intermediate Subsidiary)
(100% - SE China Investments)
SEMAR Limited (Intermediate Subsidiary)
(100% - SE China Investments)
Southern Energy Newco Limited (Intermediate Subsidiary)
(100%- SE China Investments)
SE Finance Capital Corporation (Intermediate Subsidiary)
(100 % - Holdings)
Southern Energy Finance Company, Inc. (Intermediate Subsidiary)
(100%- SE Finance Capital Corporation)
EPZ Lease, Inc. (Intermediate Subsidiary)
(100% Southern Energy Finance Company, Inc.)
EPZ Lease, LLC (Intermediate Subsidiary)
(99% EPZ Lease, Inc.; 1% Southern Energy Finance Company, Inc.)
EPZ Lease Holding A, LLC (Intermediate Subsidiary)
(99% EPZ Lease, LLC; 1% EPZ Lease, Inc.)
EPZ Lease Trust A (FUCO)
(100% - EPZ Lease Holding A, LLC {Beneficial Interest})
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy Finance Company, Inc - CONTINUED
EPZ Lease, Inc. - CONTINUED
EPZ Lease, LLC - CONTINUED
EPZ Lease Holding B, LLC (Intermediate Subsidiary)
(99% EPZ Lease, LLC; 1% EPZ Lease, Inc.)
EPZ Lease Trust B (FUCO)
(100% - EPZ Lease Holding B, LLC {Beneficial Interest})
EPZ Lease Holding C, LLC (Intermediate Subsidiary)
(99% EPZ Lease, LLC; 1% EPZ Lease, Inc.)
EPZ Lease Trust C (FUCO)
(100% - EPZ Lease Holding C, LLC {Beneficial Interest})
Southern Energy Clairton, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Finance Company, Inc.)
Southern Energy Clairton, L.L.C. (Intermediate Subsidiary)
(85% - Southern Energy Clairton, Inc.; 15% Southern Energy Clairton2, Inc.)
Clairton 1314 B Partnership, L.P. (Rule 58 Energy-Related Company)
(27% - Southern Energy Clairton, L.L.C.; 73% - Domestic Corporations)
Southern Energy Clairton2, Inc.(Intermediate Subsidiary) (100% -
Southern Energy Finance Company, Inc.)
Southern Energy Carbontronics, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Finance Company, Inc.)
Southern Energy Carbontronics, L.L.C. (Intermediate Subsidiary)
(99% - Southern Energy Carbontronics,Inc.; 1% - Southern Energy Finance Company)
Carbontronics Synfuels Investors, L.P. (Rule 58 Energy-Related Company)
(24.75% - Southern Energy Clairton, L.L.C.; 75.25% - Domestic Corporations)
Dutch Gas Lease, Inc. (Intermediate Subsidiary)
(100% Southern Energy Finance Company, Inc.)
Dutch Gas Lease, L.L.C. (Intermediate Subsidiary)
(100% Dutch Gas Lease, Inc.)
Dutch Gas Lease Holding A, L.L.C. (Intermediate Subsidiary)
(100% Dutch Gas Lease, L.L.C.)
Dutch Gas Lease Holding B, L.L.C. (Intermediate Subsidiary)
(100% Dutch Gas Lease, L.L.C.)
Dutch Gas Lease Holding C, L.L.C. (Intermediate Subsidiary)
(100% Dutch Gas Lease, L.L.C.)
Dutch Gas Lease Trust A (FUCO)
(100% - Dutch Gas Lease Holding A, L.L.C. {Beneficial Interest})
<PAGE>
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy Finance Company, Inc - CONTINUED
Dutch Gas Lease, Inc. - CONTINUED
Dutch Gas Lease, L.L.C. - CONTINUED
Dutch Gas Lease Holding B, L.L.C. (Intermediate Subsidiary)
(100%Dutch Gas Lease, L.L.C.)
Dutch Gas Lease Trust B (FUCO)
(100% - Dutch Gas Lease Holding B, L.L.C {Beneficial Interest})
Dutch Gas Lease Holding C, L.L.C. (Intermediate Subsidiary)
(100%- Dutch Gas Lease, L.L.C; 1% - Dutch Gas Lease, Inc.)
Dutch Gas Lease Trust C (FUCO)
(100% - Dutch Gas Lease Holding C, L.L.C. {Beneficial Interest})
SEI Gamog Lease, Inc. (Intermediate Subsidiary)
(100% - Southern Energy Finance Company, Inc.)
SEI Gamog Lease Holding A, L.L.C. (Intermediate Subsidiary)
(100%- SEI Gamog Lease, Inc.)
SEI Gamog Lease Trust A (FUCO) (100%- SEI Gamog
Lease Holding G, L.L.C.)
SEI Gamog Lease Holding B, LLC. (Intermediate Subsidiary)
(100%- SEI Gamog Lease, Inc.)
SEI Gamog Lease Trust B (FUCO) (100%- SEI Gamog
Lease Holding B, L.L.C.)
SEI Gamog Lease Holding C, LLC. (Intermediate Subsidiary)
(100%- SEI Gamog Lease, Inc.)
SEI Gamog Lease Trust C (FUCO) (100%- SEI Gamog
Lease Holding C, L.L.C.)
Nuon Lease, Inc. (Intermediate Subsidiary)
(100% Southern Energy Finance Company, Inc.)
Nuon Lease Holding D, L.L.C. (Intermediate Subsidiary)
(100% -Nuon Lease, Inc.)
Nuon Lease Trust D (FUCO) (100% - Nuon Lease
Holding D, L.L.C.)
Nuon Lease Holding E, L.L.C. (Intermediate Subsidiary)
(100% -Nuon Lease, Inc.)
Nuon Lease Trust E (FUCO) (100% - Nuon Lease
Holding E, L.L.C.)
EXHIBIT H - ORGANIZATION CHART - SOUTHERN ENERGY UMBRELLA COMPANIES
Holdings - CONTINUED
Southern Energy Finance Company, Inc - CONTINUED
Nuon Lease Holding F, L.L.C. (Intermediate Subsidiary)
(100% -Nuon Lease, Inc.)
Nuon Lease Trust F (FUCO) (100% - Nuon Lease
Holding F, L.L.C.)
Southern Company Capital Funding, Inc. (Intermediate Subsidiary)
(100% - Holdings)
Southern Company Capital Trust I (Intermediate Subsidiary) (100%
- Southern Company Capital Funding, Inc.)
Southern Company Capital Trust II (Intermediate Subsidiary) (100%
- Southern Company Capital Funding, Inc.)
Southern Company Capital Trust III (Intermediate Subsidiary)
(100% - Southern Company Capital Funding, Inc.)
Southern Company Capital Trust IV (Intermediate Subsidiary) (100%
- Southern Company Capital Funding, Inc.)
Southern Company Capital Trust V (Intermediate Subsidiary) (100%
- Southern Company Capital Funding, Inc.)
Mobile Energy Services Holdings, Inc. (Intermediate Subsidiary)
(100% - The Southern Company)
Mobile Energy Services Company, L.L.C. (Public Utility)
(99% - Mobile Energy Services Holdings, Inc.; 1% - Southern Energy Resources, Inc.)
Energia de Neuvo Leon, SA De CV (FUCO)
(33 1/3% - The Southern Company; 33 1/3% Foreign Corporations; 33 1/3% - Foreign Government)
Footnotes:
NOTE 1 - The organization chart above that includes the subsidiaries of
Consolidated Electric Power Asia Limited and Southwestern Electricity PLC is
updated annually as of December 31.
NOTE 2 - Certain of CEPA's holdings in the Philippines were reorganized through
a series of agreements that were dated and executed on or before December 31,
1997. However, these agreements are awaiting the approval of certain
governmental authorities in the Philippines and are not yet effective.
</TABLE>
