Thomas A. Fanning, chairman, president and CEO of Southern Company, spoke today at the annual meeting of stockholders about the importance of innovation and delivering the full energy portfolio to meet the needs of customers.

Fanning's remarks expanded on three guiding principles:

• Strengthening an inventive culture 
• Creating better ways to serve customers 
• Remaining focused on innovating around the full portfolio of energy resources

"At the foundation of Southern Company is our ability to develop real, innovative solutions to shape America's energy future," said Fanning. "Strengthening our inventive company culture by pioneering new ideas and partnerships and developing the full portfolio of energy resources is key to best meeting customers' evolving energy needs."

During the meeting, Fanning announced that Southern Company has reached an agreement with Tesla to test commercial-scale battery storage. Bringing together two companies with a shared commitment to innovation, the agreement will provide for the examination of potential applications for the energy storage technology in helping meet customers' energy needs.

Fanning also addressed the importance of innovation as part of Southern Company's culture. He discussed the value of the full portfolio – and the importance of delivering clean, safe, reliable and affordable power to customers – to provide a step to reach energy and economic security, which contribute to national security.

Fanning highlighted the success of SO Prize, the company's internal competition that sparked nearly 1,000 innovative ideas from employees. He also spoke about Southern Company's development of the Energy Innovation Center, which will serve as an incubator for new products and services through strategic partnerships, as well as the company's aspiration to eliminate all workplace accidents.

A replay of the meeting will be available by May 28 here.