Several hundred thousand Alabamans and Floridians get their electric power courtesy of the work of PowerSouth Energy Cooperative, which provides wholesale power to its member-owners (16 electric cooperatives and four municipal distribution utilities). Its distribution members provide electric services to almost 417,200 customer meters in central and southern Alabama and western Florida. PowerSouth operates a more than 2,200-mile power transmission system and has more than 2,000 MW of generating capacity from interests in six fossil-fueled and hydroelectric power plants.
PowerSouth serves customers in Alabama (39 counties) and Florida (10 counties).
The company’s revenue declined by 8% in 2012 primary as the result of milder weather which dampened retail power demand. Net income decreased by 6% that year as due to a decline in net sales and an increase in operating costs.
To meet future demand and tightening environmental regulations, the company is looking to diversify and expand its power production assets, with an emphasis on cleaner energy plants. PowerSouth's long-term energy plans include a 20-year contract for 125 MW of nuclear power from two Vogtle Units being built by the Municipal Energy Authority of Georgia, near Augusta, and due to come onstream in 2016 and 2017. The company is also investing in wind power and biomass-to-energy initiatives.
PowersSouth is owned and managed by it 20 distribution members.
Founded in 1941 as Alabama Electric Cooperative, the coop promotes a strong economic development program aimed at bringing industry into both Alabama and Florida.
In 2008 Alabama Electric Cooperative changed its name to PowerSouth Energy Cooperative to better reflect its service territory (Alabama and Florida) and its opportunities for future growth.
The company also provided propane, but sold its Cooperative Propane unit in 2011 to focus on its core power businesses.
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