The PSC, however, deferred making a decision about the merger of Wheeling Power with Appalachian Power, and the transfer of 50% of the 1,600MW Mitchell Plant to Appalachian Power.
AEP president and CEO Nicholas Akins said the PSC had deferred ruling despite recognizing the benefits of Mitchell acquisition, and expressed confidence that the company will address the commission’s concerns in a way that will enable its Wheeling Power customers to become part of Appalachian Power and all of its West Virginia customers to benefit from the low-cost Mitchell generation.
”In the meantime, our Wheeling customers will continue to be served through an agreement with AEP Generation Resources whose generation assets will include 50 percent of the Mitchell Plant," Akins added.
"We expect the final approvals from the Federal Energy Regulatory Commission by year end which will allow transfer of the 867 megawatts of Amos Plant Unit 3 to Appalachian Power and 50 percent of Mitchell Plant to Kentucky Power by Jan. 1."
The Federal Energy Regulatory Commission (FERC) had approved transfer of the ownership of the Amos and Mitchell generating capacity and the merger of Wheeling Power into Appalachian Power on April 29, 2013.
