September 22, 2023
Kentucky Power Issues Request for Proposals for Generation Resources
Kentucky Power, an American Electric Power (Nasdaq: AEP) company, issued today three Requests for Proposals (RFPs) to secure additional resources to satisfy the needs of its customers.
As part of the company’s 2022 Integrated Resource Plan, the three RFPs solicit bids for approximately 875 MW of PJM-accredited summer capacity and approximately 1,300 MW of PJM-accredited winter capacity via one or more Power Purchase Agreements (PPA) from the following resources located in the PJM region: solar and wind; coal and gas; and/or standalone storage.
Kentucky Power will evaluate each of the proposals received in response to the RFP process, individually and collectively, and depending on the results of the RFP, the company may pursue different quantities or types of resources from those specified in the IRP. All projects must interconnect to PJM Interconnection or to Kentucky Power's distribution system.
Businesses seeking to submit a proposal can access criteria, required forms, and other specifics online at www.kentuckypower.com/rfp. Proposals must be submitted by November 8, 2023. Proposals selected by Kentucky Power through the RFP process are conditioned upon and subject to appropriate regulatory approvals.
Kentucky Power, with headquarters in Ashland, provides electric service to approximately 163,000 customers in 20 eastern Kentucky counties, including Boyd, Breathitt, Carter, Clay, Elliott, Floyd, Greenup, Johnson, Knott, Lawrence, Leslie, Letcher, Lewis, Magoffin, Martin, Morgan, Owsley, Perry, Pike and Rowan. Kentucky Power is an operating company in the AEP system, one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to 5.4 million regulated customers in 11 states.
American Electric Power, based in Columbus, Ohio, is powering a cleaner, brighter energy future for its customers and communities. AEP’s approximately 17,000 employees operate and maintain the nation’s largest electricity transmission system and more than 225,000 miles of distribution lines to safely deliver reliable and affordable power to 5.6 million regulated customers in 11 states. AEP also is one of the nation’s largest electricity producers with nearly 29,000 megawatts of diverse generating capacity, including approximately 5,800 megawatts of renewable energy. The company’s plans include growing its regulated renewable generation portfolio to approximately 50% of total capacity by 2032. AEP is on track to reach an 80% reduction in carbon dioxide emissions from 2005 levels by 2030 and has committed to achieving net zero by 2045. AEP is recognized consistently for its focus on sustainability, community engagement, and diversity, equity and inclusion. AEP’s family of companies includes utilities 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, east Texas and the Texas Panhandle). AEP also owns AEP Energy, which provides innovative competitive energy solutions nationwide. For more information, visit aep.com.
Other News Releases
November 10, 2023
November 02, 2023
AEP Reports Third-Quarter 2023 Earnings, Narrows Guidance While Maintaining Midpoint
- Third-quarter 2023 GAAP earnings of $1.83 per share; operating earnings of $1.77 per share
- 2023 operating earnings (non-GAAP) guidance range narrowed to $5.24 to $5.34 per share, midpoint maintained at $5.29
- Long-term growth rate of 6% to 7% and FFO/Debt target of 14% to 15% reaffirmed
October 30, 2023Read more