West Virginia panel OKs $550M coal-fired power plant deal


CHARLESTON, W.Va. (AP) - State utility regulators have approved the $550 million transfer of an American Electric Power (NYSE: AEP) coal-fired power plant by a subsidiary.

The Public Service Commission approved a deal that will give Wheeling Power Company a 50-percent interest in the Mitchell Power Plant. The AEP facility is located in Moundsville on the Ohio River.

The Connor Run Fly Ash Impoundment and Dam are not included in the transfer. They will remain under AEP's control and ownership.

The release says the deal provides protection for Wheeling Power customers against liabilities from the fly ash impoundment.

The release says there won't be an immediate impact on rates because of the deal.

AEP has more than 478,000 customers in West Virginia.

Read more mergers and acquistions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...