AEP / Coal / Energy

AEP wants PUCO to hurry up with its PPA decision

AEP has sought guaranteed rates for some of its older plants, including one near Conesville, Ohio.

AEP has sought guaranteed rates for some of its older plants, including one near Conesville, Ohio.

COLUMBUS — “A proposal to guarantee American Electric Power Company Inc. a profit on its stake in a coal-fired power plant was rejected by Ohio regulators last month, but the decision left open the possibility that another plan could be accepted.

AEP now warns that delays could lead it to pull its proposal for a plant owned by Ohio Valley Electric Corp., or OVEC, off the table. AEP owns a share of the southern Ohio power plant along with other utilities, and says its plan would give customers a price hedge against price volatility.

…The PUCO said last month that while so-called power purchase agreements are legal – an important acknowledgement that’s being challenged by opponents of the plan – AEP’s proposal was not beneficial to power customers. It laid out various reasons for its decision, which was closely watched by Ohio’s energy industry.”

— Tom Knox, Columbus Business First

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