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GEORGIA POWER ANNOUNCES EARNINGS

 ATLANTA, July 29 /PRNewswire/ -- Georgia Power Co.'s net income for the six months ending June 30, after dividends on preferred stock, was $249.5 million, an increase of approximately $42 million over the same period a year ago.
 Net income for the 12 months ended June 30, was $562.9 million, an increase of approximately $30 million over the previous 12-month period.
 The company attributed the increase in six-month earnings to an increase in retail revenues and an after-tax gain of approximately $18 million from the sale of a portion of Plant Scherer's Unit 4.
 Earnings for the 12-month period ending June 30, 1992 were affected by an after-tax gain of $89 million from the settlement of a contract dispute with Gulf States Utilities in November 1991 and an after-tax charge of $33 million in December 1991 for workforce reduction severance benefits.
 Retail sales for the six months ending June 30, were 4.5 percent higher vs. the same period a year ago, increasing from 26.5 billion kilowatt-hours to 27.7 billion kilowatt-hours.
 Meanwhile, Georgia Power reported the addition of 24,906 customers during the last 12 months, an increase of 1.6 percent over the previous year.
 -0- 7/29/93
 /CONTACT: Tripp Cagle of Georgia Power, 800-282-1696, or 404-526-7676/


CO: Georgia Power Company ST: Georgia IN: UTI SU: ERN

BR-TG -- AT016 -- 7256 07/29/93 13:34 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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