(WTVM) - In a new development that will impact utility customers in Georgia and Alabama, Southern Company is buying natural gas provider A-G-L Resources for nearly $8 billion. Both companies are based in Atlanta.
The chairman of Southern Company, which owns Georgia Power and Alabama Power, expects the deal to be finalized by mid-2016. He also says, despite concerns about higher prices, this could lead to Atlanta Gas Light to increase the number of natural gas pipelines, which could lead to cheaper energy prices.
The deal would double the number of Southern's customers to 9 million, making it the second largest utility in the United States.
Leaders with both companies involved say customers will not see any major changes besides improved service. Rates are also not expected to go up, and no job cuts are expected.