AEP Completes Purchase of Lawrenceburg Plant
COLUMBUS, Ohio, May 16 / -- American Electric Power, through its AEP Generating Co. subsidiary, today completed the purchase of the Lawrenceburg Generating Station in Indiana from an affiliate of Public Service Enterprise Group.
The purchase, valued at approximately $325 million, was announced in January.
The Lawrenceburg plant, adjacent to AEP's Tanners Creek Plant in Lawrenceburg, Ind., is a combined-cycle, natural-gas power plant with a generating capacity of 1,096 megawatts. The plant began commercial operation in June 2004.
Acquisition of the Lawrenceburg plant will help AEP keep pace with the growth in peak demand in its eastern service area and help the company maintain the 15 percent reserve margin required by the PJM Interconnection to ensure reliability. AEP will operate the Lawrenceburg plant as part of the company's generation pool that provides power to AEP's utility units serving customers in Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia and West Virginia.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.
Source: American Electric Power
CONTACT: Media, Melissa McHenry, Manager, Corporate Media Relations,
+1-614-716-1120, or Analysts, Julie Sloat, Vice President
Web site: http://www.aep.com/
