AEP seeks buyers for four inactive Texas plants

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COLUMBUS, Ohio, Aug. 2, 2007 – American Electric Power (NYSE: AEP) is actively seeking buyers for four inactive gas-fired power generating plants in Texas.

The four plants, with historical generating capacity, acreage and location, are:
  • Abilene, 18 megawatts, approximately 29 acres, Abilene
  • Fort Phantom, 362 megawatts, approximately 164 acres, Abilene
  • Lake Pauline, 35 megawatts, approximately 1,217 acres, Quanah
  • Rio Pecos, 136 megawatts, approximately 80 acres, Girvin
None of the four plants have operated since 2004.

AEP is seeking bids for all four plants, but it will consider bids for individual plants as long as all can be sold. Indications of interest in the plants are due by early September. Formal bids are expected by November. The bidding will be completed in a two-stage process: initial indication bids first, followed by binding bids from selected parties.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning more than 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP’s headquarters are in Columbus, Ohio.
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MEDIA CONTACT:
Pat D. Hemlepp
Director, Corporate Media Relations
614/716-1620