Southern Co. announces wholesale power agreement with Progress Energy

Atlanta, GA, July 5, 2006 — Southern Co. announced that it has signed a long-term wholesale power agreement with Progress Ventures, the non-regulated subsidiary of Progress Energy.

Under the agreement, Southern Company will provide approximately 621 megawatts of wholesale power to Progress Ventures from 2009 through 2015.

Power to supply Progress Ventures will be generated from a new combined-cycle generating unit to be constructed at Plant Franklin, located in Smiths, AL. Plant Franklin currently consists of two natural gas-fueled, combined- cycle generating units. The third unit at Plant Franklin is scheduled to be commercially available by the fourth quarter of 2008.

Plant Franklin is owned by Southern Power, the subsidiary of Southern Co. that builds, owns and operates Southern Co.’s competitive generation assets. Southern Power currently serves municipalities, electric cooperatives and shareholder-owned utilities throughout the Southeast.

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