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

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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.

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