The Southern Company Selects INSSINC's 'FUTRAK' FAS 133 Compliant Hedge Accounting Software for Power, Natural Gas, Fuel Oil and Interest Rates

The Southern Company, one of the largest and prestigious electric utilities in the nation, has licensed FUTRAK for hedge accounting. "We are pleased that Southern Company has chosen to select and deploy our software. INSSINC already enjoys a robust and growing installed base, and the signing of Southern Company reinforces that FUTRAK is fast becoming the de-facto standard in the FAS 133 space." stated Elie R. Zabal, INSSINC President & CEO.

The Southern Company of Atlanta, GA (SO on the NYSE ) is the holding company for Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric, each of which is an operating public utility company. The operating companies supply electric service in the states of Alabama, Georgia, Florida, Mississippi and Georgia, respectively. In addition, the Company owns Southern Power, which is also an operating public utility company. Southern Power is the primary growth engine for Southern's competitive wholesale market-based energy business."One of the issues confronting Southern was how to systematically account for its natural gas storage hedges without arduous manual tracking," according to Account Executive, Kevin Kinsella. After multiple presentations and an on-site visit to INSSINC’s headquarters, representatives of Southern performed in-depth research and testing on FUTRAK to conclude that it was the most versatile and effective software for FAS 133 hedge accounting. Southern went on to sign with INSSINC because of its ability to deliver an on-site comprehensive software solution on MS SQL server.

INSSINC has provided companies with hedge accounting and risk management software for over 20 years. Founded in 1983, INSSINC provides risk management and FAS 133 software that can be deployed as an ASP or on-site to energy companies including: E&P, gas gatherers, pipelines, refiners, petrochemical firms, power utilities, LDC’s energy retailers, municipals, cooperatives, and energy merchants. In addition, they provide support for natural gas, crude, power, NGLs and refined products.

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