On June 15, AEP signed a long-term agreement to purchase all the output of a 10.08 megawatt solar energy facility to be built in Ohio. Construction of the solar facility is expected to begin in November 2009, and commercial operation is expected by mid-summer 2010. The agreement is AEP's first for commercial solar energy in the company's growing renewable portfolio.
On March 25th, 2008, AEP's Southwestern Electric Power Company received regulatory approval to build a new, 600 MW coal plant in Arkansas. Shares rise as investors see it as unlikely that Arkansas or Louisiana will deny regulatory approval for the plant's efficiency and air quality standards.
A federal judge in New York has ruled that an American Electric Power Company Inc. subsidiary must pay as much as $347.3 million to settle a dispute with Bank of America over natural gas in a Houston pipeline system the bank owned as collateral.
COLUMBUS, Ohio (AP) - American Electric Power said Wednesday its third-quarter earnings rose 54 percent, helped by a warmer than normal summer that boosted energy usage.