AEP Sells 2 Ohio NatGas-Fired Electric Plants to Blackstone JV

| | |
aepAmerican Electric Power is selling four electric generating plants to a newly formed joint venture of Blackstone and ArcLight Capital Partners. Three of the plants are natural gas-fired--two of them in Ohio and one in Indiana. One of the plants is coal-fired, located in Ohio. Total sale price for all four: $2.17 billion. While the announcement doesn't say, we expect at least the gas-fired plants in Ohio, and perhaps the one in Indiana, are fed in part by Utica/Marcellus natural gas. Which is why the story caught our eye. The plants are already up and running--this is simply a transfer of ownership and (we presume) management of the plants. The larger story is just how important these types of plants are in the Marcellus/Utica ecosystem--because they use a huge amount of gas. Here's the details of the deal...

To view this content, log into your member account. (Not a member? Join Today!)