ATLANTA, Ga. (Atlanta News First) — A massive federal loan could create an estimated $7 billion in benefits for Southern Company customers, which include those of Georgia Power.
A total of $22.4 billion will go to Georgia Power and $4.1 billion to Alabama Power. Both are subsidiaries of Atlanta-based Southern Company, one of the nation’s largest utilities.
The companies plan to use the cash to build new natural-gas fueled power plants, build new transmission lines and upgrade existing power plants…