This excerpt taken from the SO 10-K filed Feb 27, 2007.
The major changes in the Companys financial condition during 2006 have been the acquisitions of Plant DeSoto in June and Plant Rowan in September, the continued construction of Plant Franklin Unit 3, Plant Oleander Unit 5, and the IGCC, and the completion of the sale of Cherokee Falls Development of South Carolina LLC (a former subsidiary of the Company) and its assets to Southern Companys nuclear development affiliate. The acquisitions of Plant DeSoto and Plant Rowan resulted in $409.2 million of utility plant and working capital in 2006. Total expenditures on current construction projects are $225.0 million. Other changes have included the payment of $77.7 million in dividends to Southern Company and the issuance of $200 million of senior notes. The Company has received investment grade ratings from the major rating agencies with respect to its debt.
MANAGEMENTS DISCUSSION AND ANALYSIS (continued)
Southern Power Company and Subsidiary Companies 2006 Annual Report