Trending

Analysis presents a follow up to the previous post, Follow Ups. 11-1-16 finds Tom Knox reporting AEP takes $2.3B write-down of coal plants to avoid Ohio’s ‘deregulation debacle’ for Columbus Business First. The $2.3B write down resulted in “a $766 million loss on revenue of $4.7 billion for the [3rd] quarter, compared with a $518 million profit on $4.4 billion in revenue in the same quarter last year.” For those of you keeping score at home, AEP, along with FirstEnergy, tried to get the PUCO to subsidize its coal fired power plants. The attempt failed though the PUCO was willing, the Federal oversight of interstate commerce not. “AEP (NYSE:AEP) partially unbundled that stockholder volatility in September when it sold four power plants, including three in Ohio, for $2.17 billion.” It still owns four. According to the article, AEP’s CEO says the company is repositioning itself with a focus on distribution and transmission. It may sell off the remaining four plants. And no wonder (though a big wonder for the Ohio Legislature that issued a time out on the alternate energy source requirement), WOSU’s Steve Brown reported on the same day, Amazon Building Second Wind Farm In Ohio. Currently Amazon has invested in a wind farm in Paulding County. Brown notes “Amazon says the 189 megawatt wind farm near Kenton [Hardin County] will be up and running by December 2017. It’s expected to generate enough electricity to power about 50,000 homes a year.” The retail giant “says both wind farms will send power back into the grid that powers its operations in Ohio and Virginia.” In addition to this, 10-28-16, Elon Musk announced Tesla would be producing and selling new solar collecting products adding to the growing interest and reliance on renewable sources of electric generation.

Advertisements

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: