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Thomas A. Fanning, chairman, president and CEO of Southern Company Thomas A. Fanning, chairman, president and CEO of Southern Company

JUNO BEACH, FL—NextEra Energy, Inc.  has reached an agreement to acquire Southern Company’s Gulf Power and Florida City Gas operations, as well as ownership interests in the Oleander and Stanton natural gas and electric energy plants in Florida in a deal totaling $6.475 billion.

The deal announced today between NextEra Energy of Juno Beach, FL and Southern Co. of Atlanta includes the assumption of $1.4 billion of Gulf Power debt. NextEra Energy intends to finance the approximately $5.1 billion purchase price through the issuance of new debt. NextEra Energy is expected to continue to maintain $5 billion to $7 billion of excess balance sheet capacity, while maintaining its current strong credit ratings, Jim Robo, chairman and CEO of NextEra Energy, said in the announcement released today.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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