Southern Company And AGL Resources Get Georgia Regulators Approval

Southern Company SO and AGL Resources Inc. GAS revealed that their merger proposal gets a boost with the approval of the Georgia Public Service Commission. The company indicated that there was no opposition to the merger proposal and all intervening parties were in support of the merger plan. Once the merger is completed, both Southern Co and AGL Resources would be integrated. As a result, it would become the second biggest utility company in the America in terms of the customer base. The merger will result in the integration of eleven regulated electric and natural gas distribution offering service to about nine million customers. It would operate close to 200,000 miles of electric transmission and distribution lines. The two companies indicated that the integration would result in over 80,000 miles of gas pipelines and about 44,000 MWs of electricity generating capacity. On Thursday, shares of Southern traded down by 0.12% while AGL Resources stock traded higher by 0.15%.