22 August 2006 — American Electric Power and its operating unit Indiana Michigan Power (I&M) have entered into a 20-year agreement with Wabash Valley Power Association (Wabash) to provide wholesale power to serve Wabash’s member cooperatives. The agreement, upon approval by the Federal Energy Regulatory Commission (FERC), will take effect Jan. 1, 2007.
“Wabash desired a solution from a reliable power supplier for their long-term power supply needs,” said Greg Hall, AEP vice president, energy marketing. “By working together, we were able to develop a contract that benefits both parties.”
“This agreement reaffirms the long-term relationship that I&M has had with Wabash,” said Marsha P. Ryan, I&M president and chief operating officer. “We’re pleased to continue to provide wholesale electricity to meet the energy needs of their customers.”
“The large and diverse generation fleet of AEP and I&M will provide further long-term price stability to our members’ power supply costs,” explained Rick Coons, president and chief executive officer for Wabash Valley Power Association. “Our partnership with I&M goes back many years, and we’re pleased to see it continue well into the future.”
AEP is one of the nation’s largest wholesale suppliers of generation to municipal utilities and cooperatives. The company currently provides approximately 3,275 MW of power to 55 municipal utilities and 25 electric cooperatives in the United States.
Wabash Valley Power is a generation and transmission cooperative based in Indianapolis that provides wholesale electricity to 28 distribution cooperatives and their nearly 800,000 retail members throughout Indiana, Illinois, Michigan, Missouri and Ohio.
Indiana Michigan Power (I&M) is headquartered in Fort Wayne, Ind., and its 2,650 employees serve more than 580,000 customers in Indiana and Michigan. I&M operates 3,595 MW of coal-fired generation in Indiana, 2,110 MW of nuclear generation in Michigan, and 22 MW of hydro generation in both states. I&M is an operating unit of American Electric Power