Southern Co. Chairman, President and CEO David Ratcliffe shared his thoughts on the future of Georgia’s energy at the Buckhead Business Association’s quarterly luncheon Thursday at 103 West in Buckhead.

The downtown Atlanta-based company includes four operating utilities, including Georgia Power Co.

Creating diverse sources for electrical power, helping consumers reduce use while being more efficient and striving for a cleaner environmental footprint are some of the ways Ratcliffe said his company will approach the challenge of rising demand and capital costs.

“We don’t have a silver bullet when it comes to producing electricity,” he said. “What we really need is a portfolio of technology. One single way will not provide all of what we need.”

The two new nuclear power units to be built by 2016 and 2017 at Plant Votgle near Waynesboro represent part of that portfolio expansion. Each unit will be able to produce 1,000 megawatts of power. The $14 billion project will be the first new nuclear plants built in the country in almost 30 years.

“The state of Georgia has been very supportive … by virtue of passing legislation that allows us to begin to pay for it as we go,” said Ratcliffe referring to the state’s April 2009 approval of the company to begin charging higher rates for consumers. “That will save several hundred million dollars … what that means to the consumer is the price will be lower than the project would have been.”

He also alluded to a partnership with Ted Turner to use his property in New Mexico to produce 30 megawatts of electricity with windmills.

“I think it’s a great start and will allow us to watch that technology get better and better and the price point comes down so it will make more sense in our region of the country,” said Ratcliffe.

Despite debates about reducing electricity usage, Ratcliffe said nobody will argue that energy should not be conserved.

“There’s a lot more we can and will do,” he said. “But the process we use is one of trying to balance costs with environmental capacity and leaving a cleaner footprint.”

Association President Heather Wright said Ratcliffe’s speech made her feel confident in the state’s energy industry.

“Knowing Southern Co. and its subsidiaries are focused on the region and making it a leader in technology makes me very proud,” she said.

“I’m just glad that we as the Buckhead Business Association can contribute to that in whetever way possible.”