Amer Elec Power subsidiary acquires Valley Electric assets
American Electric Power utility subsidiary AEP Southwestern Electric Power Company signed a letter of intent to purchase the transmission and distribution assets of Valley Electric Membership Corporation. Pending due diligence, SWEPCO will purchase the VEMCO assets for approximately $94M. :theflyonthewall.com
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American Electric to file with FERC to separate Ohio operations
AEP plans to file today at the Federal Energy Regulatory Commission, or FERC, to separate its Ohio businesses and to terminate and replace the Interconnection Agreement for its eastern generating assets with a new power cost sharing arrangement. The company received approval Jan. 23 from the Public Utilities Commission of Ohio to move forward with corporate separation of its Ohio generation assets. AEP expects to receive decisions from the FERC enabling implementation of corporate separation and the termination and replacement of the Interconnection Agreement in Q1 of 2013. :theflyonthewall.com
American Electric to announce 2012 guidance, capex plans at Feb. 10 meeting
AEP will announce its 2012 ongoing earnings guidance, capital spending plans and other information during a meeting with financial analysts and investors on Feb. 10 in New York. :theflyonthewall.com
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