9/17/2013

AEP To Retire Entire Tanners Creek Plant In Indiana

COLUMBUS, Ohio, Sept. 17, 2013 – American Electric Power (NYSE: AEP) operating unit Indiana Michigan Power today announced that it will retire the 500-megawatt (MW) coal-fueled Tanners Creek 4 generating unit in Lawrenceburg, Ind., along with the other generating units at the plant.

The decision to retire Tanners Creek Units 1 - 3 (495 MW) by mid-2015 was announced in June 2011. An agreement reached in February 2013 provided the option of refueling or retiring Tanners Creek 4. Extensive analysis determined that projections for limited electricity demand growth, combined with the amount of generation currently available to serve Indiana Michigan customers, make it financially unfeasible to refuel Tanners Creek 4. All four generating units at Tanners Creek will be retired by mid-2015.

“The decision to retire Tanners Creek 4 was made as part of our ongoing analysis of resource needs and environmental compliance costs as part of our disciplined approach to capital investment. Based on relatively flat electricity demand and the fact that our Indiana Michigan Power customers don’t need additional generation at this time, we’ve determined that the cost of refueling Tanners Creek 4 is not the right capital investment,” said Nicholas K. Akins, AEP president and chief executive officer.

The retirement of Tanners Creek 4 does not impact AEP’s 2013 operating earnings guidance range of $3.05 to $3.25 per share, and the company still expects to deliver an earnings growth rate of 4 to 6 percent off of 2013 operating earnings guidance. Indiana Michigan Power currently recovers Tanners Creek Plant costs in its rates and plans to seek appropriate regulatory approvals to recover its costs going forward.

“Tanners Creek Plant has served Indiana Michigan Power customers well for many decades,” said Paul Chodak III, Indiana Michigan Power president and chief operating officer. “However, the plant’s age, combined with new environmental regulations, our successful energy efficiency programs and the fact that we currently don’t need additional generation make retirement the best decision for our customers. We are mindful of the impact of this decision on the employees at Tanners Creek and will work with them as they manage their way through this transition."

Approximately 115 employees working at Tanners Creek Plant will be impacted by the plant closure. AEP will work to find job opportunities for displaced employees at other AEP facilities. Employees whose positions are eliminated and who do not find other positions with the company will be considered for severance benefits.

AEP previously announced the retirement of 6,676 MW of coal-fueled generation to comply with new environmental regulations affecting coal-fueled power plants. With the addition of the Tanners Creek 4 retirement, AEP will retire 7,176 MW of coal-fueled generation by early 2016.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5.3 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a 40,000-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.

MEDIA CONTACTS:
Melissa McHenry
Director, External Communications
American Electric Power
614/716-1120

Tracy Warner
AEP Indiana Michigan Power
260/408-3420

ANALYSTS CONTACT
Bette Jo Rozsa
Managing Director, Investor Relations
American Electric Power
614/716-2840

More From APCO

Take Charge

Save Money & Energy - Now & Later

Sign Up Now Pay Online for Free with Paperless Billing

Pay Online for Free with Paperless Billing

Learn more

Download our app

How We Restore Power Learn more

How We Restore Power

Visit AEP.com
Use of this site constitutes acceptance of the AEP Terms and Conditions. View our Privacy Policy. © 1996-2019 American Electric Power. All Rights Reserved.

Privacy Policy

Privacy Policy for Appalachian Power, a unit of American Electric Power (AEP)

Scope

This Privacy Policy applies only to AppalachianPower.com and the Appalachian Power customer mobile app (com.aep.customerapp.apco). Other AEP websites and apps may be governed by their own privacy policies, appropriate to the uses and needs of each. Throughout the site or app, we may provide links to resources and sites that are not part of AppalachianPower.com or the Appalachian Power customer mobile app. This Privacy Policy does not apply to those resources and sites.

Consent

By using this site or app, you consent to the terms of this Privacy Policy. Whenever you submit information via this site or app, you agree to the collection, use, and disclosure of that information in accordance with this Privacy Policy.

Information Collected

  1. Passively collected information

    During your use of this site or app, we may collect anonymous information about your visit here through the use of server logs, cookies, scripts, tracking pixels and other Web traffic tracking systems. This information is aggregated and used to improve user experience through analysis of user activities. This information is never combined with any of the personally identifiable information you may provide in your use of the features of this site or app.
  2. Personally identifiable information

    On certain forms of this site or app, you may be asked to provide information about yourself or your account with us, either to identify yourself to us or to request a service from us. In each case, we will inform you what information is provided at your option and what information is required to complete the transaction or activity you are engaged in. If you are unwilling to provide this required information, you will be unable to complete the requested transaction.

Use and disclosure of information

The information you provide to us will be used to respond to requests you may make for services. Some or all of this information may be added to your permanent account record and may be used for research purposes.

In addition, we may use elements of this information in the following situations:

  1. We may transfer the information to Appalachian Power’s affiliates and subsidiaries, unless such transfer is prohibited by law;
  2. We may transfer the information as part of a merger, consolidation, acquisition, divestiture or other corporate restructuring (including bankruptcy);
  3. We may make the information available to third parties who are providing the product, service or information that you have requested (but not your password);
  4. We may make such information available to third parties who are providing services to Appalachian Power (for example, providing the information to third parties performing computer-related services for Appalachian Power);
  5. We may use the information to communicate with you about products and services that may be of interest to you.
  6. We may disclose the information if we form a good-faith belief that disclosure of such information is necessary to investigate, prevent, or take action regarding any illegal activities or regarding interference with the operation of our site or violation of its terms of use; or
  7. We may disclose the information if we believe that disclosure is required by law or regulation or in response to a subpoena or other order of a court or other governmental agency.

Appalachian Power uses Flurry Analytics Service (provided by Yahoo) in order to improve its mobile apps. Flurry’s privacy policy governs the use of this information.

Also, Appalachian Power reserves the right to share any aggregated information (i.e., non-personally identifiable information) with any third parties for any reason, unless prohibited by law.

We will not sell, rent or otherwise disclose the information we gather about you or your account to any third party, except as outlined in this Privacy Policy.

Security

Appalachian Power takes reasonable steps to protect your personally identifiable information as it is transferred to us, through the use of Web technologies such as the Secure Sockets Layer and others. However, no Internet transmission of information is ever completely secure or error-free. In particular, e-mail sent to or from Appalachian Power may not be secure.

How to Reach Us

If you would like to update your personally identifiable information or if you have questions about this privacy policy, please contact us.

Changes to This Policy

Appalachian Power reserves the right to change this Privacy Policy at any time. If this Privacy Policy changes, the revised policy will be posted to this site. Please review this Privacy Policy before you provide any personally identifiable information through this site. Use of our web site after the posting of a revised privacy policy constitutes your consent to the revised policy.

This policy was last revised on December 13, 2017.

Close ×

Sign Up For Alerts

Subscribing to APCO alerts gives you instant notification for:

  • Billing & Payments - avoid late payments and disconnection
  • Outage Updates - find out if there's an outage at your address and when power will be back on

Win an Xbox One with Alerts!

Enroll in alerts to be eligible to win. Subscribing to I&M alerts gives you instant notification for:

  • Billing & Payments - avoid late payments and disconnection
  • Outage Updates - find out if there's an outage at your address and when power will be back on

Loading video...

×