Were committed to supporting and improving our communities and environment. For detailed information regarding the rules and regulatory framework of the Southern Company Energy Auction, please seeAuction Rules and Compliance. We are developing and deploying resilient, sustainable and economical energy solutions you can depend on no matter the storm. Within the Auction System, "Web Services" are available to facilitate automated uploading and downloading of various data. Additional Independent Auction Administrator Contacts. Promoting Professional Management of Surplus Assets. Employees routinely work under conditions that require exceptional safety measures and awareness. There are many ways to sell an asset that range from a fixed price sale, private sale, negotiated sale, auction, sealed bid, consignment, or outsourced sale. The primary difference between these day-ahead products is the right, but not the obligation, of the seller to curtail recallable energy in the event of a supply-side disruption. For idle assets, it is important to be able to track them, know where to find them, and to know which part of the organization they belong. "JJ Kane Auctioneers" is a registered trademark of JJ Kane Associates, Inc. This can be a costly process and involve special machinery, tools, and people. Failure to take delivery includes, but is not limited to, the following reasons: Failure to obtain proper transmission service for the transaction. It also requires that companies have effective ordering and invoicing systems, accounting tools, and tax tracking abilities. On Oct. 17, 2008, Southern Company filed with the Federal Energy Regulatory Commission (FERC) amendments to its Market-Based Rate Tariff to incorporate a must-offer, bid-based energy auction. Investment recovery professionals seek to identify, reuse, sell or otherwise dispose of surplus assets generated by a company as it pursues its primary business. An investment recovery program is a group of projects with a plan of action aimed at accomplishing the following business objectives: appraisals, closures, demolition, sales, transfers, and waste stream management. Please click herefor more information. Registration Step 1 Contact Information Please select the registrant type that best fits you. There are a large number of other processes that fall under each of these areas. However, there is no means of price discovery so participants can not raise their bids in response to the bids of others. Atlanta, GA 30308 (Old Fourth Ward area) John Portman Blvd & Courtland St. Second, unused equipment depreciates in value and results in an actual expense on the books. Phone: +1 989 638 8173. Finally, reusing an asset at the new location should also produce a benefit that exceeds the cost of purchasing a new item. Please take a moment to complete the questions below. Outsourced sale services do entail significant costs. However, in order for these processes to be effective, the company must have some basic procedures and systems in place to manage these processes and help make them successful. On October 17, 2008, Southern Company filed amendments to its Market-Based Rate Tariff with the Federal Energy Regulatory Commission (FERC) to incorporate a must-offer, bid-based energy auction. In these cases, the asset will need to be disposed. CHECK CASHIERS OF SOUTHERN CALIFORNIA, INC. Christina A. Ciceron, A Professional Corporation. Information about Phase I of the Energy Auction. Find documents and instructions to register for our auctions. Explore this report to learn more about how we put it . For example, many electronics contain hazardous materials and need to undergo a special process in order to make them safe for landfills. Follow as we move Boldly Forward in building equity and inclusion in our company and communities and how we are investing in our nations tomorrow, today. Were always looking ahead, and our innovations in the industryfrom new nuclear to deployment of electric transportation and renewables help brighten the lives and businesses of millions of customers nationwide. We believe in the importance of protecting critical infrastructure and Americas way of life. Used cars, trucks, utility and construction equipment from Southern Companys fleet are available for purchase by the general public in JJ Kane auctions throughout the year. Equipment is added daily! In addition, IRG works closely with other Nestl North American facilities through Nestl Business Services (NBS), providing equipment offerings from all aspects of the Nestl businesses. These treatments are not cheap and often involve the use of hazardous materials experts. Amplifying Program Investment; Reviving a Unique Landscape; Partnership with a Purpose. Once an auction participant has entered an offer, that offer may be changed at any point during the auction period (e.g., changing previously submitted offer blocks, adding or removing offer blocks, or removing the entire offer). Southern Company commits to promote an actively anti-racist culture and to ensure that all groups are well-represented, included and fairly treated within all levels of the organization. | Privacy Statement Participants may submit offers to sell or bids to purchase into this auction. Across Southern Company, we are looking to improve relations between all members of the communities where we live and work. If you experience any issues with this process, please contact us for further assistance. Annual investment maximum of $300,000. Southern Company is honored to be a preferred energy partner for the U.S. Department of Defense (DOD) and federal agencies across the country. //xmlhttp0.open("POST", secureWebRoot + "/external/wcpages/v12/gateway/gateway.aspx?OutputType=json&Namespace=Weblink_Core&TypeName=WC_ReferralManager&MethodName=AddListingReferralEntries&FriendlyResponse=False&Async=True", true); Safety is a core value throughout the Southern Company system. The counterparty must terminate its buy-through for the remainder of the schedule. After submitting your request, you will receive an activation email to the requested email address. Southern Wholesale Energy markets the retail operating companies' surplus generating capacity to the wholesale market. Southern Company system employees are inextricably woven into the communities we are privileged to serve. Weighted Average Hour-Ahead Transaction Prices, Constructive Regulation and Public Policy, "Rules on Southern Companies' Energy Auction Participation. Southern Company has contracted with OATI to develop and host the webMarket software being used for the Southern Company Energy Auction. There will usually be additional terms and conditions that will apply to this sale due to the sensitive nature of the asset. Under the new criteria, a spread value will post when an auction has at least one unique buyer and one unique seller. function recordReferralOnClick(profileidcsv, listingidcsv, referraltype) { Joint Venture II, A Limited Partnership, Debt Recovery Attorneys, A Professional Corporation. Building the future of energy is a big mission, and were honored to take it on. Views of Columbia Trust Company are as of the date published and are subject to change based on market conditions and other factors. Most investment recovery professionals use this option quite frequently. If you are interested in purchasing surplus equipment or materials, or would simply like additional information, please contact us at the number below. There are many ways to divest an asset. Weighted Average Hour-Ahead Transaction Prices, Constructive Regulation and Public Policy. Each login ID requires the use of an OATI digital certificate. However, this can also result in additional costs on the sale. Every day at Southern Company, we put into motion our vision for the future of energy. ATLANTA, Feb. 17, 2022 /PRNewswire/ -- Southern Company today reported a fourth-quarter 2021 loss of $215 million, or 20 cents per share, compared with earnings of $387 million, or 37 cents per. INVESTMENT RECOVERY CORPORATION. Investment Recovery Association Physical Location 10100 N Ambassador Dr, St 310 Kansas City, MO 64153 . At Southern Company, our total rewards play an important part in who we are as a company and how we attract, engage and retain the best talent. As always, we value your input and appreciate your participation in the Southern Company Energy Auction. The Domestic And Foreign Missionary Society Of The Protestant Episcopal Church In The United States Of America, The Law Offices of Mitchell D. Bluhm & Associates, LLC, Todd A. Brisco & Associates, A Professional Corporation. Southern Company system employees are inextricably woven into the communities we are privileged to serve. In some circumstances, an asset can not be reused or sold to another party. We value your feedback and look forward to hearing from you. All prospective participants must execute a Participation Agreement before participating in the energy auction. An auction can be a cost effective way to sell assets or inventory and can be a great way to discover the price of an item. Note that items may not have information filled in for every field and, as a result, may not be found in queries that look for values in such fields. Key features of the Plan include: Carefully read the Southern Investment Plan Prospectus before making any investment decision to purchase Southern Company common stock through the Plan. Division of Consumer Financial Protection, Division of Corporations and Financial Institutions, Licensee & Financial Service Provider Search, Actions, Order and Administrative Hearing Decisions, Central Locations for Service of Legal Process, Office of Financial Technology Innovation, Licensees and Industries Regulated by the DFPI, Actions, Orders and Administrative Hearing Decisions, "Northern California Collection Service, Inc.", A.R.C. With over 50 years of experience we understand the importance of high touch, personalized, flexible service. This usually involves getting multiple offers, comparing them, and selecting the best one. Southern Company system employees are inextricably woven into the communities we are privileged to serve. There will be two simultaneous day-ahead energy auctions one for firm-LD energy and one for recallable energy. . If Southern Company authored the tags that must be curtailed, the energy coordinator or hourly scheduler shall initiate the necessary tag market adjustments within the business practice constraints of the Balancing authorities and transmission providers who are in the physical path of the tags. Tool Or File Cabinet (2544968) Mesa Az. The charter should define scopes for machinery and equipment, vehicles, office furniture and MRO. Further details regarding the mechanics of these auctions and the planned commencement date will be forthcoming; however, the goal is to have the Into GTC auctions up and running by early June. It is helpful to have the information from these processes located in one place. In addition, a successful divestment provides a significant (and often unexpected boost) to the organization's bottom line. Bid blocks consist of a desired megawatt amount - in 50-MW increments for the DAE Auction; and in single, 1-MW increments for the HAE Auction - at a specified bid price. xmlhttp0.open("POST", "/external/wcpages/v12/referral/record.aspx?ProfileIDsCSV=" + profileidcsv + "&ListingIDsCSV=" + listingidcsv + "&ReferralType=" + referraltype + "&FileName=" + filename + "&AFT=" + AFT, true); For redeployments, the company must have a way to let other parts of the organization know about idle assets and have an easy way to request these assets for use in their operations. First, if a piece of equipment works, it could be put to better use somewhere else. For a marketer who does not own the supplying generation asset, the upstream should be a unit contingent or firmer product. This change will take effect for all Hour-Ahead Auctions beginning on February 23, 2017, for power flow HE 13 (Central). By providing your email address below, you are providing consent to The Southern Company to send you the requested Investor Email Alert updates. The day-ahead energy auction consists of two simultaneous auctions - one for firm-LD energy and one for recallable energy. Our 2021 Corporate Responsibility Executive Summary highlights the meaningful actions we are taking in the environmental, social and governance space as we advance toward a brighter tomorrow. We believe in the importance of protecting critical infrastructure and Americas way of life. Per the Debt Collector Licensing Act some applicants are allowed to do business while they are waiting to be denied or approved. Please take a moment to complete the questions below. In a negotiated sale, the investment recovery professional negotiates with a group of buyers to find out which one of them will pay the most. The sealed bid process, while similar to an auction, involved taking one "last and best" offer from prospective buyers. The counterparties have the right to buy through the full curtailment at the HAE auction price for recallable energy transactions curtailed for non-reliability purposes. This list only includes the pending applications where the business is allowed to conduct business while they are waiting to be approved or denied. To determine whether were the right choice for your client, drop us a note. If you want to experience the southern way, please contact us below. As per the Auction Rules, the buyer is responsible for ensuring that the scheduling source that appears on the NERC tag is the same as that assigned by the auction software. The Southern Investment Plan provides a convenient way to purchase shares of Southern Company common stock. The primary difference between these day-ahead products is the right of Southern Company to curtail recallable energy in the event of a supply-side disruption. Sealy, TX 77474. 2030 Dow Center. These auctions will be run for each business day, Monday through Friday, excluding NERC holidays. Our Company Values. Phase II of the energy auction was subsequently implemented on January 4, 2010. Across Southern Company, we are looking to improve relations between all members of the communities where we live and work. Bid/Offer Spread: The criteria applicable to the posting of Energy Auction bid/offer spreads are being revised. Participants may submit offers to sell or bids to purchase into either or both of these day-ahead auctions. One of the most important parts of the investment recovery process is the identification idle assets. Southern Company. The energy auction will be monitored by an Independent Auction Monitor (IAM) that is approved by FERC. By providing your email address below, you are providing consent to The Southern Company to send you the requested Investor Email Alert updates. Midland, Michigan 48674. Southern Companys electric operating company Georgia Power is currently building the first new nuclear units in the United States in the last three decades. On Oct. 17, 2008, Southern Company filed with the Federal Energy Regulatory Commission (FERC) amendments to its Market-Based Rate Tariff to incorporate a must-offer, energy auction. The following describes the particulars of the Phase II Energy Auction. Collection Bureau of Fort Walton Beach, Inc. Collection Bureau of the Hudson Valley, Inc. Comcast California Collection Services, LLC, Commercial Industries Service Company Inc, Concentrix Daksh Services India Private Limited, Concentrix Daksh Services Philippines Corporation, Construction Credit and Finance Group, LLC. You can sign up for additional alert options at any time. U.S. Committee for Refugees and Immigrants, Inc. United Joint Venture, A Limited Partnership. It must also be practical for the asset to be transferred and deployed at the new location. As you may be aware, the Federal Energy Regulatory Commission (FERC) recently accepted a number of changes to the Energy Auction that Southern Company proposed in December of 2016. Timing of the Hour-Ahead Auction: Currently, the Hour-Ahead Auction opens at 75 minutes prior to the beginning of the Delivery Hour and closes 60 minutes prior to the beginning of the Delivery Hour. Another way to sell an item is to consign it to a third party and have that third party sell the item. Tool Box (2544967) Mesa Az. In this case, the investment recovery professional does not want to make the items available to the public so may arrange to sell the item to a broker or offer the item to a small, select group of buyers. Fourth, idle equipment represents capital that is tied up and is not earning a return on investment. We will work hard to understand you, your family and the life youve built so that your vision for the future can be realized. Mendelson Schwarz, A Professional Law Corporation, BRM Recovery Services; Merchants Credit Solutions, Modernizing Medicine Billing Services, LLC, Moore, Brewer & Wolfe, a Professional Corporation, NATIONAL BUSINESS FACTORS, INC. OF NEVADA. The proposal was conditionally accepted by FERC on Dec. 18, 2008, and Southern Company filed their Compliance Filing accepting all conditions on Jan. 21, 2009. Donations also help the receiving organization since that organization has a great need for the equipment. The divestment process requires that companies maintain an active pool of prospective buyers and know how to contact these buyers. When identifying an asset, it is important to obtain as many details about the asset as possible. Utility . If you have been contacted by a debt collector and they are not on the following list, please contact us at DCLA.Inquiries@dfpi.ca.gov or file a complaint. Email: shareholderservices@southernco.com. Southern Investment Plan. If the upstream product is nonfarm, loss of supply would be considered a failure to deliver. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Redeploying an idle asset to another part of an organization is one of the best and most cost effective things an investment recovery professional can do with an idle asset. Independent Monitoring of the Energy Auction. The cost and number of webMarket administrator and user login IDs allowed for each auction participant is determined by the Participation Agreement. However, larger organizations that have more equipment, operating locations, employees, or assets often have the greatest opportunities to reap benefits by implementing investment recovery best practices. The auction includes simultaneous day-ahead energy auctions for firm-LD energy and recallable energy, along with an hour-ahead energy auction for non-firm energy. The Independent Auction Administrator will serve as the first point of contact for Energy Auction questions and needs. You must click the activation link in order to complete your subscription. }, Investment Recovery Association Mailing AddressPO Box 419264Kansas City, MO 64141-9264, Investment Recovery Association Physical Location10100 N Ambassador Dr,St 310Kansas City, MO 64153. It will be the responsibility of the buyers and sellers to confirm and finalize the transaction in accordance with their own enabling agreements. Southern Company is honored to be a preferred energy partner for the U.S. Department of Defense (DOD) and federal agencies across the country. Investment Recovery Association Mailing Address PO Box 419264 Kansas City, MO 64141-9264. The only option for the piece of equipment is to sell it for scrap value. var AFT = "JQOOWFFTTMUGNQFXOLULSCD2WLS1Z9NJP6BJT9TCPUDLQKDFOSUQ86DLQ2D6O3UB8EDN63Q4DAOHUD3YG92MQ0DDO9U23NGU3U1T3W4MQH2MV7TG4GQRDTOVUQ47BH4C31QPDQO5UN4RB1581OQW2OVETXQCNBQVDIOUUK8OD5BOEVERM3J1THUWJDO8H5SDFPGZFES5SCBSMPF9OAUXSBJFFKTD"; Use constitutes acceptance of General Website Terms and Conditions. Should you have any questions about these changes or about the Southern Company Energy Auction in general, please call or email the Southern Auction Administrator, April Gurley, at 205-257-2172 oralgurley@southernco.com. Private sales are usually appropriate for more sensitive assets or branded inventory. / Many consignment companies charge 10 to 15% of the sale price to conduct these specialized asset sales. We recognize the value our investors and stakeholders place on transparency. Donation is an option that is not used as frequently by investment recovery professionals. When total fees exceed the threshold or time limit, the IAA will provide Participant with an invoice that states the amount owed by Participant, which will be due and payable in accordance with invoice instructions on or before the tenth (10th) day after receipt of the invoice or if such day is not a business day then on the next business day. After completing the registration process, auction participants will be assigned webMarket user logins by the Independent Auction Administrator. Southern Company. Use constitutes acceptance of General Website Participants with matching bid blocks and offer blocks will be notified by webMarket after clearing. ", https://www.socowmkt.oati.com/socowmkt/sys-login.wml, http://www.southerncompany.com/about-us/energy-auction/historical-bids-and-offers.html, Energy Auction Clearing Methodology (Phase IIThird Party Sellers), How to use the Multi-Hour Bid/Offer Entry Screen, Accessing the Southern Company Energy Auction software, Establishing & maintaining credit limits and company blocking, Failure to properly take delivery of energy. Once the decision has been made to sell an asset, an investment recovery professional next needs to decide how to sell the asset. An improperly formatted tag that is rejected for any reason by any Balancing Authority or Transmission Provider on the contract path. All items are to be picked up on the day of purchase and no items can be . Phase II Training Tools (Effective Jan 4, 2010). Southern Company is excited to announce new changes to the Energy Auction. Southern Company is excited to announce new changes to the Energy Auction and your interaction with it. Long Description: Kilowatt Korner sale, we are selling the Kilowatt Korner items in the Investment Recovery Offices on Mondays, Wednesdays, and Fridays 8am-3pm during the month of October. The bid period for these two auctions will open at 12:00 p.m., two days prior to delivery and will close at 6:45 a.m., one day prior to the delivery day. Across Southern Company, we are looking to improve relations between all members of the communities where we live and work. The purpose of the energy auction is to resolve perceptions that Southern Company could exercise horizontal market power through the physical or economic withholding of generation. There will be an hour-ahead energy auction each hour of the day, 24 hours a day, seven days a week, including NERC holidays. This Compliance Filing was accepted by FERC on March 25, 2009. 15, LLC, CarMax; CarMax Auctions; CarMax The Auto Superstore. Company Values. If a counterparty chooses to buy through the curtailment, the tag shall not be curtailed and the price for each hour thereafter shall be changed to reflect the hourly market clearing price. Epiq Investment Recovery Software Overview. Don't have an account? While Atlanta is our home, we bring energy to homes and businesses across the country. Southern Company operations have responsibility for more than 27,000 miles of transmission lines, 3,700 substations, and 300,000 acres of right of way. Southern Companys electric operating company Georgia Power is currently building the first new nuclear units in the United States in the last three decades. After the identification process has been completed for a piece of equipment, it may become obvious that the equipment can not be reused or resold. Southern Company commits to promote an actively anti-racist culture and to ensure that all groups are well-represented, included and fairly treated within all levels of the organization. Terms and Conditions. Were committed to supporting and improving our communities and environment. Southern Company. For general questions regarding the Southern Company Energy Auction, please seeFrequently Asked Questions. Investment recovery, also called asset recovery or resource recovery, is the process of recouping the value of unused or end of life assets. reliable and affordable energy to our customers. The energy coordinator or hourly scheduler will notify all counterparties with tags that must be curtailed.
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