Document:

Exhibit 4.6

                 PETITION FOR TWENTY-SIXTH AMENDMENT TO CHARTER

TO THE SECRETARY OF STATE OF THE STATE OF GEORGIA:

         The petition of Savannah Electric and Power Company, a corporation of
Chatham County, in said State, respectfully shows:

         I. It is a street and suburban railway company, with authority to do an
electric light, heat and power business. Its Charter was granted by the
Secretary of State of the State of Georgia on August 21, 1921, for the term of
One Hundred and One Years (101 years), with the right of renewal and continuance
thereafter as may be provided by law, upon a petition duly filed and pursuant to
an Act of the General Assembly of the State of Georgia approved December 17,
1892, and acts amendatory thereof, and was amended by certificates issued by the
Secretary of State on the following dates: (1) September 29, 1924, (2) November
15, 1926, (3) July 11, 1930, (4) June 19, 1942, (5) July 13, 1945, (6) December
31, 1945, (7) November 18, 1948, (8) April 20, 1953, (9) November 25, 1953, (10)
May 23, 1954, (11) October 13, 1954, (12) April 7, 1955, (13) March 5, 1957,
(14) April 17, 1957, (15) April 9, 1964, (16) March 3, 1970, (17) October 23,
1972, (18) October 15, 1975, (19) January 12, 1982, (20) August 7, 1984, (21)
August 6, 1986, (22) March 1, 1988, (23) December 9, 1988, (24) November 10,
1993 and (25) December 3, 1998.

         II. The authorized and outstanding shares of capital stock of the
Company outstanding at May 19, 2004, the date of the Written Consent of the Sole
Shareholder hereinafter referred to, are as follows:

<TABLE>
<CAPTION>

                                                                            Authorized            Outstanding
Kind of Stock                                                            Number of Shares      Number of Shares
-------------                                                            ----------------      ----------------
<S>                                                                         <C>                       <C>
Undesignated Preferred Stock, Par Value $100 Per Share                         125,000                         0
Undesignated Preferred Stock, Par Value up to $100 Per Share                 2,200,000                         0
Undesignated Preference Stock, Par Value $5 Per Share                        2,000,000                         0
Common Stock, Par Value $5 Per Share                                        16,000,000                10,844,635

</TABLE>

         III. The Company desires an amendment to its Charter to (i) amend
Section 1.01 to eliminate therefrom the 125,000 authorized shares of
Undesignated Preferred Stock, Par Value $100 Per Share and the 2,000,000
authorized shares of Undesignated Preference Stock, Par Value $5 Per Share; (ii)
further amend Section 1.01 to increase the number of authorized shares of
Undesignated Preferred Stock, Par Value up to $100 Per Share to 4,000,000; (iii)
amend Section 2.01 to define "Preferred Stock" as any class of preferred stock
of the Company (and any series thereof) authorized by the Charter; (iv) amend
Sections 2.03, 4.01 and 5.01 to allow for cumulative and non-cumulative
dividends on Preferred Stock; (v) amend Section 4.05 to provide holders of
Preferred Stock with certain voting rights and (vi) eliminate therefrom in their
entirety Section 8 (provisions related to Class A Convertible Stock) and Section
9 (provisions related to Preference Stock), all as set forth in Exhibit A to the
Certified Abstract from the Minutes of the Board of Directors of the Company
delivered herewith.

         IV. This petition for the proposed amendment has been duly authorized
by the action of more than two-thirds in amount of the entire capital stock of
the Company outstanding and entitled by the terms of its Charter or state law to
vote thereon by Written Consent of the Sole Shareholder of the Company. The
affirmative vote of (i) the holders of record of at least 66-2/3% of the shares
of common stock of the Company outstanding and entitled to vote and (ii) the
holders of at least 66-2/3% of the total number of shares of preferred stock
outstanding was required to adopt the foregoing amendment. There were 10,844,635
shares of common stock of the Company outstanding and entitled to vote thereon
of which all were voted in favor of the foregoing amendment. There were no other
outstanding shares of capital stock of the Company.

<PAGE>

         V. Petitioner respectfully presents this, its petition for an amendment
to its Charter, as heretofore amended, and asks that the same be granted as
herein prayed for and that all other rights, powers and privileges contained in
its original charter, as heretofore amended, and such as are incident to like
corporations under the laws of Georgia, do continue and remain of force and be
approved and confirmed.

                                        SAVANNAH ELECTRIC AND POWER COMPANY

                                        By:   /s/Kirby R. Willis
                                             Kirby R. Willis
                                             Vice President, Treasurer and
                                             Chief Financial Officer

Attest:

/s/Nancy E. Frankenhauser
Nancy E. Frankenhauser
Secretary

Date:  May 25, 2004

<PAGE>

                   CERTIFIED ABSTRACT FROM THE MINUTES OF THE
            BOARD OF DIRECTORS OF SAVANNAH ELECTRIC AND POWER COMPANY
                          WITH RESPECT TO PETITION FOR
                      TWENTY-SIXTH AMENDMENT TO ITS CHARTER

         On motion, duly made and seconded, the following resolution was
unanimously adopted by the Board of Directors of the Company:

         RESOLVED: That it is desirable and in the best interests of the Company
to seek the approval of the Company's shareholders to amend the Company's
charter, substantially in the form of the amendment attached hereto as "Exhibit
A" (the "Amendment");

         RESOLVED FURTHER: That, if the holder of record of the Company's
outstanding common stock votes affirmatively for the proposal to amend the
Charter, the President or any Vice President and the Secretary, any Assistant
Secretary, the Treasurer or any Assistant Treasurer of the Company be and hereby
are authorized and directed to make application to the Secretary of State of the
State of Georgia that the Charter of Savannah Electric and Power Company, dated
August 5, 1921, as heretofore amended by certificates of the Honorable Secretary
of State dated (1) September 29, 1924, (2) November 15, 1926, (3) July 11, 1930,
(4) June 19, 1942, (5) July 13, 1945, (6) December 31, 1945, (7) November 18,
1948, (8) April 20, 1953, (9) November 25, 1953, (10) May 23, 1954, (11) October
13, 1954, (12) April 7, 1955, (13) March 5, 1957, (14) April 17, 1957, (15)
April 9, 1964, (16) March 3, 1970, (17) October 23, 1972, (18) October 15, 1975,
(19) January 12, 1982, (20) August 7, 1984, (21) August 6, 1986, (22) March 1,
1988, (23) December 9, 1988, (24) November 10, 1993 and (25) December 3, 1998,
be further amended to so amend Sections 1.01, 2.01, 2.03, 4.01, 4.05, 5.01, 8
and 9 (all other terms and provisions of the Charter to remain unchanged); and
that the officers of the Company be and they are hereby authorized and empowered
to take all such other action as any one of them may deem necessary or desirable
to effect the Amendment;

         RESOLVED FURTHER: That the Secretary of the Company shall certify under
the seal of the Company a copy of this resolution and attach it to the petition
for twenty-sixth amendment to the Charter to be filed with the Secretary of
State of the State of Georgia; and

         RESOLVED FURTHER: That the officers of the Company be, and they hereby
are, authorized and directed to do and perform all such acts, matters and things
as may be necessary or appropriate to carry out the proposals described in the
foregoing resolutions in the manner provided by law and otherwise to consummate
the transactions contemplated thereby.

<PAGE>

                                    Exhibit A
                          Form of Amendment to Charter

The provisions of the Charter of the Company, as heretofore amended, are hereby
further amended as follows:

                                       1.

           Section 1.01 thereof is deleted in its entirety and replaced with the
following:

           "SECTION 1.01. The number of shares of capital stock of Savannah
Electric and Power Company authorized to be outstanding at any one time is
20,000,000 shares consisting of:

     16,000,000 shares of Common Stock of the par value of $5 per share; and

           4,000,000 shares of Preferred Stock of such par value per share (up
to $100 per share) as shall be fixed by resolutions duly adopted by the common
stockholders of the Company prior to the issue and sale thereof. The filing with
the Secretary of State of Georgia or other appropriate office of a copy of such
resolution duly certified by the Secretary or an Assistant Secretary of the
Company shall conclusively establish the adoption of such resolution.

           A statement of the powers, preferences and rights, and the
qualifications, limitations or restrictions thereof, of said classes of stock is
as follows:"

                                       2.

           Section 2.01 thereof is deleted in its entirety and replaced with the
following:

           "SECTION 2.01. The term "Preferred Stock" shall mean any class of
preferred stock of the Company (and any series thereof) authorized hereby."

                                       3.

           Section 2.03 thereof is amended by inserting at the end of the first
sentence the following proviso, "; provided, however, that with respect to
non-cumulative Preferred Stock, accrued dividends shall be determined without
accumulation of accrued and unpaid dividends for prior dividend periods unless
previously declared."

                                       4.

           Section 4.01 thereof is amended by deleting it in its entirety
thereof and replacing it with the following paragraphs:

           "SECTION 4.01. Dividend Rights. Dividend rights, including the
cumulative or non-cumulative nature thereof and the relative rights of priority,
if any, of payment, on shares of any class of Preferred Stock (and any series
thereof) shall be as specified in any amendment or amendments to the Charter
establishing the terms thereof.

           So long as any shares of Preferred Stock are outstanding, no
dividends shall be declared or paid upon or set apart for the shares of any
class of Junior Stock, nor any sums applied to the purchase, redemption or other
retirement of any class of Junior Stock, unless (i) full dividends on all shares
of cumulative Preferred Stock, of all classes outstanding, for all past
quarterly dividend periods shall have been paid or declared and a sum sufficient
for the payment thereof set apart and the full dividend for the then current
quarterly dividend period shall have been or concurrently shall be declared, and
(ii) full dividends for the three immediately preceding quarterly dividend
periods and the then-current dividend period (or in the event there have been
fewer than three full dividend periods, then for each dividend period since the
date of original issuance of any non-cumulative Preferred Stock) on all shares
of non-cumulative Preferred Stock, of all classes outstanding, have been, or
contemporaneously are, paid, or declared and a sum sufficient for the payment
thereof set aside. The amount of any deficiency for past dividend periods may be
paid or declared and set apart at any time without reference to any quarterly
dividend payment date. Unpaid accrued dividends on the Preferred Stock shall not
bear interest.

           When specified dividends are not paid in full on all classes of
Preferred Stock, the shares of each class of Preferred Stock shall share ratably
in any partial payment of dividends in accordance with the sums which would be
payable on said shares if all dividends were paid in full; provided, however,
that non-cumulative Preferred Stock shall not share in accumulations of accrued
and unpaid dividends for prior dividend periods unless previously declared."

                                       5.

           Section 4.05 thereof is amended by deleting in its entirety the first
full paragraph thereof and replacing it with the following paragraph:

           "SECTION 4.05. VOTING RIGHTS. The holders of Preferred Stock shall
not be entitled to vote, except as follows:

           (a) as provided above under Section 4.04, but in the case of any
class of Preferred Stock, subject to the changes therein, as may be specified,
if any, together with such other rights as may be provided in any amendment or
amendments to the Charter establishing or amending the terms thereof;

           (b) as may from time to time be required by the laws of the State of
Georgia; and

           (c) in the event that (1) with respect to non-cumulative Preferred
Stock, any six quarterly dividends (whether or not consecutive and whether or
not earned and declared), or (2) with respect to cumulative Preferred Stock, any
six consecutive quarterly dividends, in either case, have not been paid in full
on such series of Preferred Stock, the holders of such Preferred Stock will have
the right, voting separately as a class with holders of shares of any one or
more other series of Preferred Stock upon which like voting rights have been
conferred and are exercisable, at the next meeting of stockholders called for
the election of directors, to elect two members of the Board of Directors of the
Company and the size of the Company's Board of Directors will be increased
accordingly to effect such election. The rights of such holders of Preferred
Stock to elect (together with the holders of shares of any one or more other
series of Preferred Stock upon which like voting rights have been conferred and
are exercisable) members of the Board of Directors of the Company will continue
until such time as (A) with respect to non-cumulative Preferred Stock, full
dividends on such Preferred Stock have been paid or declared and set apart
regularly for at least one year (i.e., four consecutive full quarterly dividend
periods), or (B) with respect to cumulative Preferred Stock, the dividends in
arrears and the current dividend on such Preferred Stock shall have been paid or
declared and set aside for payment, at which time, in either case, such right
will terminate, subject to revesting in the event of each and every subsequent
failure to pay dividends of the character described above. Upon any termination
of the right of the holders of shares of Preferred Stock to vote as a class for
directors, the term of office of all directors then in office elected by such
holders voting as a class will terminate immediately."

                                       6.

           Section 5.01 is amended by deleting the word "cumulative" from the
second line thereof.

                                       7.

           Sections 8 and 9 thereof are deleted in their entirety.

<PAGE>

         I, Nancy E. Frankenhauser, Secretary of Savannah Electric and Power
Company, do hereby certify that the foregoing is a true and correct copy of
resolution duly and regularly adopted at a meeting of the board of directors of
Savannah Electric and Power Company, duly held on May 4, 2004, at which a quorum
was in attendance and voting throughout, and that said resolution has not since
been rescinded but is still in full force and effect.

         Given under my official signature and the seal of said Company this
25th day of May, 2004.

                                                     /s/Nancy Frankenhauser
                                                           Secretary

                                                            (SEAL)

<PAGE>

               CERTIFIED ABSTRACT FROM THE WRITTEN CONSENT OF THE
             SOLE SHAREHOLDER OF SAVANNAH ELECTRIC AND POWER COMPANY
                          WITH RESPECT TO PETITION FOR
                      TWENTY-SIXTH AMENDMENT TO ITS CHARTER

         The following resolution was adopted by written consent of the sole
shareholder of the outstanding shares of the Company's stock:

     RESOLVED: That there be and hereby is approved and adopted an amendment to
the Charter of Savannah Electric and Power Company in the form attached hereto
as "Exhibit A."

<PAGE>

                                        4

                                    Exhibit A
                          Form of Amendment to Charter

The provisions of the Charter of the Company, as heretofore amended, are hereby
further amended as follows:

                                       1.

           Section 1.01 thereof is deleted in its entirety and replaced with the
following:

           "SECTION 1.01. The number of shares of capital stock of Savannah
Electric and Power Company authorized to be outstanding at any one time is
20,000,000 shares consisting of:

     16,000,000 shares of Common Stock of the par value of $5 per share; and

           4,000,000 shares of Preferred Stock of such par value per share (up
to $100 per share) as shall be fixed by resolutions duly adopted by the common
stockholders of the Company prior to the issue and sale thereof. The filing with
the Secretary of State of Georgia or other appropriate office of a copy of such
resolution duly certified by the Secretary or an Assistant Secretary of the
Company shall conclusively establish the adoption of such resolution.

           A statement of the powers, preferences and rights, and the
qualifications, limitations or restrictions thereof, of said classes of stock is
as follows:"

                                       2.

           Section 2.01 thereof is deleted in its entirety and replaced with the
following:

           "SECTION 2.01. The term "Preferred Stock" shall mean any class of
preferred stock of the Company (and any series thereof) authorized hereby."

                                       3.

           Section 2.03 thereof is amended by inserting at the end of the first
sentence the following proviso, "; provided, however, that with respect to
non-cumulative Preferred Stock, accrued dividends shall be determined without
accumulation of accrued and unpaid dividends for prior dividend periods unless
previously declared."

                                       4.

           Section 4.01 thereof is amended by deleting it in its entirety
thereof and replacing it with the following paragraphs:

           "SECTION 4.01. Dividend Rights. Dividend rights, including the
cumulative or non-cumulative nature thereof and the relative rights of priority,
if any, of payment, on shares of any class of Preferred Stock (and any series
thereof) shall be as specified in any amendment or amendments to the Charter
establishing the terms thereof.

           So long as any shares of Preferred Stock are outstanding, no
dividends shall be declared or paid upon or set apart for the shares of any
class of Junior Stock, nor any sums applied to the purchase, redemption or other
retirement of any class of Junior Stock, unless (i) full dividends on all shares
of cumulative Preferred Stock, of all classes outstanding, for all past
quarterly dividend periods shall have been paid or declared and a sum sufficient
for the payment thereof set apart and the full dividend for the then current
quarterly dividend period shall have been or concurrently shall be declared, and
(ii) full dividends for the three immediately preceding quarterly dividend
periods and the then-current dividend period (or in the event there have been
fewer than three full dividend periods, then for each dividend period since the
date of original issuance of any non-cumulative Preferred Stock) on all shares
of non-cumulative Preferred Stock, of all classes outstanding, have been, or
contemporaneously are, paid, or declared and a sum sufficient for the payment
thereof set aside. The amount of any deficiency for past dividend periods may be
paid or declared and set apart at any time without reference to any quarterly
dividend payment date. Unpaid accrued dividends on the Preferred Stock shall not
bear interest.

           When specified dividends are not paid in full on all classes of
Preferred Stock, the shares of each class of Preferred Stock shall share ratably
in any partial payment of dividends in accordance with the sums which would be
payable on said shares if all dividends were paid in full; provided, however,
that non-cumulative Preferred Stock shall not share in accumulations of accrued
and unpaid dividends for prior dividend periods unless previously declared."

                                       5.

           Section 4.05 thereof is amended by deleting in its entirety the first
full paragraph thereof and replacing it with the following paragraph:

           "SECTION 4.05. VOTING RIGHTS. The holders of Preferred Stock shall
not be entitled to vote, except as follows:

           (a) as provided above under Section 4.04, but in the case of any
class of Preferred Stock, subject to the changes therein, as may be specified,
if any, together with such other rights as may be provided in any amendment or
amendments to the Charter establishing or amending the terms thereof;

           (b) as may from time to time be required by the laws of the State of
Georgia; and

           (c) in the event that (1) with respect to non-cumulative Preferred
Stock, any six quarterly dividends (whether or not consecutive and whether or
not earned and declared), or (2) with respect to cumulative Preferred Stock, any
six consecutive quarterly dividends, in either case, have not been paid in full
on such series of Preferred Stock, the holders of such Preferred Stock will have
the right, voting separately as a class with holders of shares of any one or
more other series of Preferred Stock upon which like voting rights have been
conferred and are exercisable, at the next meeting of stockholders called for
the election of directors, to elect two members of the Board of Directors of the
Company and the size of the Company's Board of Directors will be increased
accordingly to effect such election. The rights of such holders of Preferred
Stock to elect (together with the holders of shares of any one or more other
series of Preferred Stock upon which like voting rights have been conferred and
are exercisable) members of the Board of Directors of the Company will continue
until such time as (A) with respect to non-cumulative Preferred Stock, full
dividends on such Preferred Stock have been paid or declared and set apart
regularly for at least one year (i.e., four consecutive full quarterly dividend
periods), or (B) with respect to cumulative Preferred Stock, the dividends in
arrears and the current dividend on such Preferred Stock shall have been paid or
declared and set aside for payment, at which time, in either case, such right
will terminate, subject to revesting in the event of each and every subsequent
failure to pay dividends of the character described above. Upon any termination
of the right of the holders of shares of Preferred Stock to vote as a class for
directors, the term of office of all directors then in office elected by such
holders voting as a class will terminate immediately."

                                       6.

           Section 5.01 is amended by deleting the word "cumulative" from the
second line thereof.

                                       7.

           Sections 8 and 9 thereof are deleted in their entirety.

<PAGE>

           I, Nancy E. Frankenhauser, Secretary of Savannah Electric and Power
Company, do hereby certify that the foregoing is a true and correct copy of the
resolution duly and regularly adopted by written consent of the sole shareholder
of Savannah Electric and Power Company, effective May 19, 2004, and that said
resolution has not since been rescinded but is still in full force and effect.

         Given under my official signature and the seal of said Company this
25th day of May, 2004.

                                                     /s/Nancy Frankenhauser
                                                            Secretary

                                                             (SEAL)Exhibit 4.7

                PETITION FOR TWENTY-SEVENTH AMENDMENT TO CHARTER

TO THE SECRETARY OF STATE OF THE STATE OF GEORGIA:

         The petition of Savannah Electric and Power Company, a corporation of
Chatham County, in said State, respectfully shows:

         I. It is a street and suburban railway company, with authority to do an
electric light, heat and power business. Its Charter was granted by the
Secretary of State of the State of Georgia on August 21, 1921, for the term of
One Hundred and One Years (101 years), with the right of renewal and continuance
thereafter as may be provided by law, upon a petition duly filed and pursuant to
an Act of the General Assembly of the State of Georgia approved December 17,
1892, and acts amendatory thereof, and was amended by certificates issued by the
Secretary of State on the following dates: (1) September 29, 1924, (2) November
15, 1926, (3) July 11, 1930, (4) June 19, 1942, (5) July 13, 1945, (6) December
31, 1945, (7) November 18, 1948, (8) April 20, 1953, (9) November 25, 1953, (10)
May 12, 1954, (11) October 13, 1954, (12) April 7, 1955, (13) March 5, 1957,
(14) April 17, 1957, (15) April 9, 1964, (16) March 3, 1970, (17) October 23,
1972, (18) October 15, 1975, (19) January 12, 1982, (20) August 7, 1984, (21)
August 6, 1986, (22) March 1, 1988, (23) December 9, 1988, (24) November 10,
1993, (25) December 2, 1998 and (26) May 27, 2004.

         II. The authorized and outstanding shares of capital stock of the
Company outstanding at June 7, 2004, the date of the Written Consent of the Sole
Shareholder hereinafter referred to, are as follows:

                                           Authorized            Outstanding
Kind of Stock                           Number of Shares      Number of Shares
-------------                           ----------------      ----------------
Undesignated Preferred Stock,
  Par Value up to $100 Per Share            4,000,000                    0
Common Stock, Par Value $5 Per Share       16,000,000           10,844,635

         III. The Company desires an amendment to its Charter to create and
authorize the issuance and sale of a new series of Preferred Stock by
establishing the designation for such series and fixing the number of shares,
the par value thereof, the dividend rate provisions, the liquidation, redemption
and sinking fund provisions and all other terms of such series, all as set forth
in the attachment to the Certified Abstract from the Minutes of the Board of
Directors of the Company delivered herewith.

         IV. This petition for the proposed amendment has been duly authorized
by the action of more than two-thirds in amount of the entire capital stock of
the Company outstanding and entitled by the terms of its Charter or state law to
vote thereon by Written Consent of the Sole Shareholder of the Company. The
affirmative vote of the holders of record of at least 66-2/3% of the shares of
common stock of the Company outstanding and entitled to vote was required to
adopt the foregoing amendment. There were 10,844,635 shares of common stock of
the Company outstanding and entitled to vote thereon of which all were voted in
favor of the foregoing amendment. There were no other outstanding shares of
capital stock of the Company.

<PAGE>

         V. Petitioner respectfully presents this, its petition for an amendment
to its Charter, as heretofore amended, and asks that the same be granted as
herein prayed for and that all other rights, powers and privileges contained in
its original Charter, as heretofore amended, and such as are incident to like
corporations under the laws of Georgia, do continue and remain of force and be
approved and confirmed.

                                  SAVANNAH ELECTRIC AND POWER COMPANY

                                  By: /s/Kirby R. Willis
                                       Kirby R. Willis
                                       Vice President, Treasurer and
                                       Chief Financial Officer

Attest:

/s/Nancy E. Frankenhauser
Nancy E. Frankenhauser
Secretary

Date:  June 10, 2004

<PAGE>

                   CERTIFIED ABSTRACT FROM THE MINUTES OF THE
            BOARD OF DIRECTORS OF SAVANNAH ELECTRIC AND POWER COMPANY
                          WITH RESPECT TO PETITION FOR
                     TWENTY-SEVENTH AMENDMENT TO ITS CHARTER

         On motion, duly made and seconded, the following resolution was
unanimously adopted by the Board of Directors of the Company:

           RESOLVED FURTHER: That the Board of Directors of the Company hereby
approves the amendment to the Charter attached hereto to establish a series of
the Preferred Stock and authorizes the officers to file such amendment with the
Secretary of State of the State of Georgia, upon the approval of such amendment
by the holder of record of the Company's outstanding common stock.

<PAGE>

                                   ATTACHMENT

         There is hereby added to the said Charter of the Company, as heretofore
amended, immediately following Section 3.06 thereof, a new Section to be
numbered Section 3.07 creating and authorizing the 6.00% Series Preferred Stock
and which shall read as follows:

     "Section 3.07. 6.00% Series Preferred Stock, Non-Cumulative, Par Value $25
Per Share

         There shall be a class of Preferred Stock of the Company to consist
initially of 1,800,000 shares of the par value of $25 per share, designated as
"6.00% Series Preferred Stock, Non-Cumulative, Par Value $25 Per Share" (the
"6.00% Series Preferred Stock").

         The 6.00% Series Preferred Stock shall have the terms and provisions
hereinafter in this Section 3.07 set forth or provided for.

         (a) Dividends. Out of any assets of the Company available for
dividends, the holders of the 6.00% Series Preferred Stock shall be entitled to
receive, but only when, as and if declared by the Board of Directors, dividends
at 6.00% per annum. Such holders shall be entitled to dividends at said rate so
fixed, and no more. Dividends declared shall be payable quarterly on January 1,
April 1, July 1 and October 1 in each year, commencing July 1, 2004, or if any
such date is not a business day, on the next business day, to stockholders of
record on a date not more than 30 days prior to such payment date, as may be
determined by the Board of Directors of the Company. Dividends on the 6.00%
Series Preferred Stock shall be non-cumulative and, accordingly, if the Board of
Directors of the Company does not declare a dividend or declares less than a
full dividend on the 6.00% Series Preferred Stock for a quarterly dividend
period, holders of the 6.00% Series Preferred Stock will have no right to
receive a dividend or the full dividend, as the case may be, for that period,
and the Company will have no obligation to pay a dividend for that period,
whether or not the Company pays dividends in full or has sufficient funds to pay
dividends in the future.

         (b) Liquidation. In the event of any liquidation, dissolution or
winding up of the Company, the holders of the 6.00% Series Preferred Stock shall
be entitled to receive the amounts prescribed in Section 4.02.

         (c) Redemption Provisions. The Company may, at its option expressed by
resolution of its Board of Directors, redeem the 6.00% Series Preferred Stock in
the manner provided in Section 4.03(A) without premium, from time to time, on or
after July 1, 2009, upon not less than 30 nor more than 60 days' notice, at a
redemption price equal to $25.00 per share plus accrued and unpaid dividends
(whether or not declared) from the immediately preceding dividend payment date
to the redemption date (without accumulation of accrued and unpaid dividends for
prior dividend periods unless previously declared, in which case accrued and
unpaid dividends for such prior dividend period shall be paid at redemption).
For any shares of 6.00% Series Preferred Stock to be redeemed, dividends will
cease to accrue and all rights of holders of such shares, except the right to
receive the redemption price, will cease as of the redemption date.

         No sinking fund will be provided for the purchase or redemption of the
6.00% Series Preferred Stock.

         (d) Voting Powers and Other Rights. The holders of the 6.00% Series
Preferred Stock shall have such voting power and other rights and be subject to
such restrictions and qualifications as are set forth in Sections 4 to 6
hereof."

<PAGE>

         I, Nancy E. Frankenhauser, Secretary of Savannah Electric and Power
Company, do hereby certify that the foregoing is a true and correct copy of the
resolution duly and regularly adopted at a meeting of the board of directors of
Savannah Electric and Power Company, duly held on May 4, 2004, at which a quorum
was in attendance and voting throughout, and that said resolution has not since
been rescinded but is still in full force and effect.

         Given under my official signature and the seal of said Company this
10th day of June, 2004.

                                             /s/Nancy E. Frankenhauser
                                                      Secretary

                                                       (SEAL)

<PAGE>

               CERTIFIED ABSTRACT FROM THE WRITTEN CONSENT OF THE
             SOLE SHAREHOLDER OF SAVANNAH ELECTRIC AND POWER COMPANY
                          WITH RESPECT TO PETITION FOR
                     TWENTY-SEVENTH AMENDMENT TO ITS CHARTER

         The following resolution was adopted by written consent of the sole
shareholder of the outstanding shares of the Company's stock:

     RESOLVED: That there be and hereby is approved and adopted an amendment to
the Charter of Savannah Electric and Power Company in the form attached hereto
as "Exhibit A."

<PAGE>

                                    Exhibit A
                          Form of Amendment to Charter

         There is hereby added to the said Charter of the Company, as heretofore
amended, immediately following Section 3.06 thereof, a new Section to be
numbered Section 3.07 creating and authorizing the 6.00% Series Preferred Stock
and which shall read as follows:

     "Section 3.07. 6.00% Series Preferred Stock, Non-Cumulative, Par Value $25
Per Share

         There shall be a class of Preferred Stock of the Company to consist
initially of 1,800,000 shares of the par value of $25 per share, designated as
"6.00% Series Preferred Stock, Non-Cumulative, Par Value $25 Per Share" (the
"6.00% Series Preferred Stock").

         The 6.00% Series Preferred Stock shall have the terms and provisions
hereinafter in this Section 3.07 set forth or provided for.

         (a) Dividends. Out of any assets of the Company available for
dividends, the holders of the 6.00% Series Preferred Stock shall be entitled to
receive, but only when, as and if declared by the Board of Directors, dividends
at 6.00% per annum. Such holders shall be entitled to dividends at said rate so
fixed, and no more. Dividends declared shall be payable quarterly on January 1,
April 1, July 1 and October 1 in each year, commencing July 1, 2004, or if any
such date is not a business day, on the next business day, to stockholders of
record on a date not more than 30 days prior to such payment date, as may be
determined by the Board of Directors of the Company. Dividends on the 6.00%
Series Preferred Stock shall be non-cumulative and, accordingly, if the Board of
Directors of the Company does not declare a dividend or declares less than a
full dividend on the 6.00% Series Preferred Stock for a quarterly dividend
period, holders of the 6.00% Series Preferred Stock will have no right to
receive a dividend or the full dividend, as the case may be, for that period,
and the Company will have no obligation to pay a dividend for that period,
whether or not the Company pays dividends in full or has sufficient funds to pay
dividends in the future.

         (b) Liquidation. In the event of any liquidation, dissolution or
winding up of the Company, the holders of the 6.00% Series Preferred Stock shall
be entitled to receive the amounts prescribed in Section 4.02.

         (c) Redemption Provisions. The Company may, at its option expressed by
resolution of its Board of Directors, redeem the 6.00% Series Preferred Stock in
the manner provided in Section 4.03(A) without premium, from time to time, on or
after July 1, 2009, upon not less than 30 nor more than 60 days' notice, at a
redemption price equal to $25.00 per share plus accrued and unpaid dividends
(whether or not declared) from the immediately preceding dividend payment date
to the redemption date (without accumulation of accrued and unpaid dividends for
prior dividend periods unless previously declared, in which case accrued and
unpaid dividends for such prior dividend period shall be paid at redemption).
For any shares of 6.00% Series Preferred Stock to be redeemed, dividends will
cease to accrue and all rights of holders of such shares, except the right to
receive the redemption price, will cease as of the redemption date.

         No sinking fund will be provided for the purchase or redemption of the
6.00% Series Preferred Stock.

         (d) Voting Powers and Other Rights. The holders of the 6.00% Series
Preferred Stock shall have such voting power and other rights and be subject to
such restrictions and qualifications as are set forth in Sections 4 to 6
hereof."

<PAGE>

           I, Nancy E. Frankenhauser, Secretary of Savannah Electric and Power
Company, do hereby certify that the foregoing is a true and correct copy of the
resolution duly and regularly adopted by written consent of the sole shareholder
of Savannah Electric and Power Company, effective June 7, 2004, and that said
resolution has not since been rescinded but is still in full force and effect.

         Given under my official signature and the seal of said Company this
10th day of June, 2004.

                                                   /s/Nancy E. Frankenhauser
                                                          Secretary

                                                            (SEAL)

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