On March 4, 2014, Appalachian Power Company (APCo) and Wheeling Power Company (WPCo) filed an updated plan to serve the load of WPCo as directed by the WVPSC’s order of December 13, 2013. The Companies propose to serve the WPCo load by transferring a one-half interest in the Mitchell Plant and associated facilities to WPCo. The one-half interest in the Mitchell Plant is currently owned by AEP Generation Resources, Inc. (AGR) with the other one-half interest owned by another AEP subsidiary, Kentucky Power Company (KPCo). KPCo currently operates the plant and will continue to do so after the proposed transfer is approved.
The Companies propose that the transfer be accomplished with a transfer price of the then-existing net book value, at which time the current contract to serve load between AGR and WPCo would terminate.
The Companies propose a closing at or around June 30, 2014 and in order to accommodate a June 30, 2014 closing, the Companies request a final order by June 13, 2014.