Columbus, OH-based American Electric Power (AEP) on Monday agreed to close or refuel units at three Midwest coal-fired electric generation plants and fill at least part of the lost capacity with renewable-based power supplies. Environmental groups hailed the move as a “victory for clean air.”
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If it lives up to its potential, the Utica Shale could revive the manufacturing sector in Ohio, industry leaders told an audience in Columbus last month.
As Ohio awaits results of preliminary Utica Shale wells, industry leaders told an audience in Columbus last week that the play, if successful, could revive the state’s manufacturing sector.
Despite reduced volumes due to the Columbus Day holiday, November natural gas futures still recorded a significant move lower to start the week. The contract traded between $6.845 and $7.160 before closing out Monday’s regular session at $6.846, down 22.7 cents from Friday’s close.
The Commodity Futures Trading Commission on Tuesday filed a complaint in federal district court in Columbus, OH, charging the ex-chief of AEP Energy Services Inc.’s Gulf trading desk with directing his natural gas traders to submit misleading or knowingly inaccurate information on trades to two Platts publications, Gas Daily and Inside FERC’s Gas Market Report (IFERC).
Looking to extend its direct market access within the state of Ohio, Columbus, OH-based North Coast Gas Transmission LLC said it has executed a definitive agreement to acquire pipeline assets in northern Ohio that will interconnect with the company’s existing pipeline. The acquisition will extend North Coast’s direct market access from Fostoria, OH to Toledo and Marion.
Columbus, OH-based American Electric Power (AEP) announced Wednesday that it is soliciting bids for all 29 of the power generation units (4,497 MW) of its AEP Texas Central Co. subsidiary (formerly known as Central Power and Light) in an effort to accurately determine their market value and the company’s associated stranded costs. The assets include 12 separate plant sites with a net book value of $1.8 billion as of Dec. 31, 2001.
E. Linn Draper Jr., 61, the chairman and CEO of American Electric Power (AEP), said Wednesday he will retire in 2004. Draper became president of the Columbus, OH-based utility giant in March 1992 following 13 years with Gulf States Utilities Co. in Beaumont, TX, where he served as CEO. He took over the chair and CEO positions for AEP in May 1993.
Cash prices moved sharply lower on Friday for the Columbus Day weekend despite the surprisingly rapid rise in the natural gas futures market. While November futures ended the day up more than 30 cents, mild weekend weather and weak demand left cash with nowhere to go but down. Most points tumbled 10-20 cents, which put many locations back down near bidweek levels.