FERC Approves Transfer of Utility Generation Out of AEP Ohio to Competitive Affiliate

FERC has approved AEP's application to transfer the utility generation owned by Ohio Power Company to a competitive generation affiliate, consistent with the corporate separation approved by the Public Utilities Commission of Ohio.

Consistent with PUCO's order, FERC directed that all debt associated with the generation shall be transferred to AEP Generation, or that AEP Generation otherwise become responsible for the payment of such debt.

FERC dismissed protests from industrial customers, who had objected to the transfer occurring at net book value.

Docket EC13-26