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AEP Receives Approval From West Virginia Commission To Transfer Amos Generation To Appalachian Power

COLUMBUS, Ohio, Dec. 16, 2013 /PRNewswire/ -- American Electric Power (NYSE: AEP) received approval Dec. 13 from the Public Service Commission of West Virginia (West Virginia PSC) to transfer the AEP Ohio-owned portion of John E. Amos Plant Unit 3 to Appalachian Power. The West Virginia PSC deferred making a decision about the merger of Wheeling Power with Appalachian Power and the transfer of 50 percent of the 1,600-megawatt (MW) Mitchell Plant to Appalachian Power.

"We are pleased that the West Virginia Public Service Commission approved the Amos transfer and recognized that our Appalachian Power customers would benefit from the low-cost, reliable electricity that Amos can provide," said Nicholas K. Akins, AEP president and chief executive officer. "Although the West Virginia Commission recognized the benefits of acquiring Mitchell, they deferred ruling on the Wheeling Power merger and the transfer of the Mitchell generation, as we had requested given the prior ruling of the Virginia Commission. We are confident that we can address the West Virginia Commission's concerns in a way that will allow our Wheeling Power customers to become part of Appalachian Power and all of our West Virginia customers to benefit from the low-cost Mitchell generation. In the meantime, our Wheeling customers will continue to be served through an agreement with AEP Generation Resources whose generation assets will include 50 percent of the Mitchell Plant." 

"We expect the final approvals from the Federal Energy Regulatory Commission by year end which will allow transfer of the 867 megawatts of Amos Plant Unit 3 to Appalachian Power and 50 percent of Mitchell Plant to Kentucky Power by Jan. 1," Akins said.

AEP filed in December 2012 for approval from West Virginia PSC and the Virginia State Corporation Commission (Virginia SCC) to transfer AEP Ohio's two-thirds ownership (867 MW) of Amos Plant Unit 3 (1,300 MW) and 800 MW of the 1,600-MW generating capacity of Mitchell Plant to Appalachian Power. The Virginia SCC agreed to the transfer of Unit 3 of the Amos Plant and the Wheeling Power merger July 31. The Virginia SCC did not approve the ownership transfer of the Mitchell Plant generation.   

AEP also filed to transfer ownership of the remaining 800 MW of the 1,600-MW generating capacity of Mitchell Plant to Kentucky Power. The Kentucky Public Service Commission approved that transfer Oct. 7.        

Stock quotes in this article: AEP 

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