Unlike beleaguered California utilities, the Southern Power subsidiary is not plagued with a short supply of power to supplement overall demands.
Georgia Power media relations coordinator Theresa Robinson tells GlobeSt.com the state has banked more than enough reserves to serve both commercial and residential customers this summer, which is their peak usage time.
No specific load forecasts were available. Georgia Power's commercial and industrial customers accounted for 37.2% of retail revenues last year that totaled $4.7 billion statewide.
"We have a diverse fuel mix of coal, gas hydro and nuclear with a 12 to 15% reserve margin," said Robinson. "We feel very comfortable with what we have on reserve an we have enough energy to meet our customers needs."
The shortfall which has hit California with a vengeance and compromised many industrial and commercial endeavors with forced brown-outs, resulted in California Independent System Operator and the California Power Exchange owing Atlanta-based utility Mirant $392 million. That amount included outstanding payments from Pacific Gas & Electric which filed for bankruptcy protection from creditors last week.
Mirant was spun off April 2 as a subsidiary of Southern. The utility, which serves all areas of the U.S., but the Southeast, said it is taking non-specific steps to collect the past due amounts and will still meet its first quarter earnings expectations of 46 to 48 cents per share, despite the massive amounts due them.
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