Columbus, OH, May 17, 2007 — American Electric Power (AEP), through its AEP Generating Co. subsidiary, completed the purchase of the Lawrenceburg Generating Station in Indiana from an affiliate of Public Service Enterprise Group (PEG).
The purchase, valued at approximately $325 million, was announced in January.
The Lawrenceburg plant, adjacent to AEP’s Tanners Creek Plant in Lawrenceburg, Indiana, 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, said the company. 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.
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