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US Utility Operators AEP, Dynegy Close Ownership Transfer for Co-Owned Plants.

M2 EQUITYBITES-May 12, 2017-US Utility Operators AEP, Dynegy Close Ownership Transfer for Co-Owned Plants

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12 May 2017 - US-based electric utility operator American Electric Power (NYSE: AEP) has completed the sale of AEP's 330mw share of the Zimmer Plant to US-based electric company Dynegy and the purchase of Dynegy's 312mw share of Conesville Plant, the company said.

The transaction has no material impact on AEP earnings.

AEP already operates Conesville Plant and Dynegy operates Zimmer Plant so there will be no employment impact from the transaction.

The company now owns 92%, or 1,461mw, of Conesville Plant.

Dayton Power and Light owns the remaining 129mw of Conesville Unit 4.

AEP's other competitive generation assets in Ohio include 595mw of Cardinal Plant, 603mw of Stuart Plant and the 48mw Racine Plant. Stuart Plant is expected to be retired by 1 June 2018.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4m customers in 11 states.

The company owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other US transmission systems combined.

AEP also operates 224,000 miles of distribution lines. AEP ranks among the nation's largest generators of electricity, owning approximately 26,000mw of generating capacity in the US AEP supplies 3,200 megawatts of renewable energy to customers.

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Publication:M2 EquityBites (EQB)
Date:May 12, 2017
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