The Southern Co. operates as a holding company, which owns all of the common stock of the traditional operating companies and Southern Power Company and owns other direct and indirect subsidiaries. It operates business through the electricity sales by the Traditional Operating Companies and Southern Power segments. The Traditional Operating Companies includes of Alabama Power, Georgia Power, Gulf Power, and Mississippi Power, which are vertically integrated utilities providing electric service in four Southeastern states. The Southern Power segment constructs, acquires, owns, and manages generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. The company was founded on November 9, 1945 and is headquartered in Atlanta, GA.