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AEP Ohio is ready to accept the transfer of Allegheny Energy’s Ohio service territory and its 29,000 customers effective at midnight on Dec. 31, according to Kevin Walker, AEP Ohio president and chief operating officer.
American Electric Power, through its Columbus Southern Power (CSP) utility subsidiary, announced today that the Public Utilities Commission of Ohio (PUCO) ruled that CSP can move forward with its purchase of Allegheny Energy’s Ohio service territory for approximately $45 million. In addition, CSP will pay Allegheny $10 million associated with the termination of certain litigation.
American Electric Power (NYSE: AEP), through its Columbus Southern Power (CSP) utility subsidiary, has signed an agreement to purchase Monongahela Power Company’s Ohio transmission and distribution operations for approximately $55 million, plus traditional working capital adjustments. Monongahela Power is a subsidiary of Allegheny Energy (NYSE: AYE).
Columbus Southern Power Company and Ohio Power Company, subsidiaries of American Electric Power (NYSE: AEP) doing business as AEP Ohio, filed an application today with the Public Utilities Commission of Ohio seeking authority to recover costs related to building and operating a new clean-coal technology power plant.
American Electric Power (NYSE: AEP) is encouraged by the Public Utilities Commission of Ohio (PUCO) approval of the company’s rate stabilization plan for its Ohio Power and Columbus Southern Power operating companies.