Southern Company announced earnings guidance for the year and first quarter of 2013 and provides 3-year forecast for capital expenditures. For 2013, the company's industrial sales growth is projected to be 2%. Commercial sales growth is projected to be 0.5% while residential sales are expected to grow at 0.6%. The company provided an earnings guidance range of $2.68 to $2.80.

For first quarter 2013 earnings per share estimate is $0.51.

The company 3-year forecast for capital expenditures totals $16.5 billion. As in previous years, the largest component of forecast is maintenance, which totals $4.2 billion for the 3-year period. Of the $2.4 billion 3-year total CapEx for Southern Power, approximately $2 billion is allocated as placeholders for potential acquisitions for new self-build projects that fit Southern Power's rigid investment criteria, including the requirement for long-term contracts with creditworthy counterparties.