american electric power (AEP) Snapshot

Sierra Club and American Electric Power (AEP) reached an agreement in principle that would resolve the future of power generation in eastern Kentucky after the retirement of the coal fired generators at the Big Sandy Power Plant near Louisa, Kentucky in 2015. The proposed deal commits American Electric Power subsidiary Kentucky Power to invest in a host of clean energy and energy efficiency programs along with a focus on new low-income community development investments in Lawrence County. Both coal fired units of the plant were previously scheduled for retirement and this agreement will see some of the new power coming from a plant in Moundsville, West Virginia owned by AEP subsidiary Ohio Power. The agreement commits Kentucky Power to significantly increase its energy efficiency investments over the next five years. From three million dollars this year, to four million in 2014, five million in 2015 and six million in investments per year from 2016 to 2018 and to continue at that level thereafter. These instate energy efficiency investments are likely to bring jobs directly into the Kentucky Power service areas while decreasing the total energy consumption of eastern Kentucky. Finally, the agreement pledges Kentucky Power Company to invest $500,000 towards economic development in low-income communities in Lawrence County, Kentucky and surrounding counties. At least one third of that money must be used for job training with a focus on weatherization and energy efficiency training.

American Electric Power Co., Inc. Presents at 2013 RBC Capital Markets' Global Energy & Power Conference, Jun-04-2013 10:30 AM. Venue: Ritz-Carlton New York, Battery Park Hotel, New York, New York, United States. Speakers: John McManus, Vice President, Environmental Services, Richard E. Munczinski, Senior Vice President of Regulatory Services.

American Electric Power Co., Inc. announced that it has received approval from the Federal Energy Regulatory Commission (FERC) to separate its Ohio generating assets from its Ohio distribution and transmission operations and transfer these assets to a competitive generation company and regulated affiliates. AEP is awaiting FERC approval of additional transactional agreements between AEP affiliates. The FERC's April 29 decision approved the transfer of AEP Ohio-owned generation to a new wholly owned company -- AEP Generation Resources Inc. The FERC also approved further transfer of AEP Ohio's two-thirds ownership (867 MW) in John E. Amos Plant Unit 3 (1,300 MW) and ownership of 800 MW of the 1,600-MW generating capacity of Mitchell Plant to Appalachian Power as well as ownership transfer of the remaining 800 MW of Mitchell Plant to Kentucky Power. Additionally, the FERC approved merging AEP's Wheeling Power utility into Appalachian Power. AEP's application to terminate the interconnection agreement, or pool, that exists among AEP's utilities in the Midwest and for approval of a new Power Coordination Agreement among Appalachian Power, Kentucky Power and Indiana Michigan Power remains pending before the FERC, along with other tariff filings related to corporate separation. AEP anticipates implementing corporate separation and the other items in the related filings by Dec. 31, 2013.