COLUMBUS, Ohio, Oct. 1, 2004 – American Electric Power (NYSE: AEP) has signed wholesale power supply agreements with nine electric cooperatives and municipal utilities in Virginia and Texas. The nine separate agreements total 637 megawatts of load for AEP.
In each case, AEP was selected through a competitive bid process. Pricing details are not being announced for competitive reasons.
"We´re pleased that these municipals and cooperative have selected AEP as their wholesale supplier," said Michael G. Morris, AEP´s chairman, president and chief executive officer. "In addition to providing reliable, affordable electricity to our own retail customers, wholesale service to municipals and cooperatives is a key component to AEP´s utility business.
"We look forward to beginning service under these new agreements and will work to continue the beneficial relationships with these customers in the future."
AEP is one of the largest wholesale suppliers of generation to municipal utilities and cooperatives. Including the nine new agreements announced today, AEP will provide approximately 2,570 megawatts of load to 52 municipal utilities and 20 electric cooperatives in the United States.
Agreements announced today include:
Name Location Peak MW Term
Bedford Bedford, VA 48 7/1/05-6/30/06
Bristol Utilities Bristol, VA 128 1/1/05-12/31/07
Danville Danville, VA 226 7/1/05-6/30/06
Martinsville Martinsville, VA 42 7/1/05-6/30/06
Radford Radford, VA 61 7/1/05-6/30/06 Salem Salem, VA 91 7/1/05-6/30/06
Richlands Richlands, VA 18 7/1/05-6/30/06
Craig-Botetourt
Electric Coop New Castle, VA 14 3/1/05-6/30/06 Seymour Seymour, TX 9 1/1/05-12/31/05
Blue Ridge Power Agency, a joint-action agency with headquarters in Danville, Va., represented and assisted the Virginia cities and cooperative in the contract negotiations.
American Electric Power owns more than 36,000 megawatts of generating capacity in the United States and is the nation´s largest electricity generator. AEP is also one of the largest electric utilities in the United States, with more than 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.
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Melissa McHenry
Manager, Corporate Media Relations
614/716-1120
John Shepelwich
Manager, State Corporate Communications-Virginia
804/698-5515