Oklahoma Gas & Electric is planning to buy two power plants and lower its carbon emissions profile in coming years, according to reports.
OG&E has set aside $53 million to acquire the 360-MW AES Shady Point coal and gas-fired generation plant in LeFlore County, Oklahoma. The Oklahoma City utility also plans to buy a 146-MW cogeneration plant in its hometown.
Shady Point was set to likely close after OG&E terminated a long-term power purchase agreement with the facility. However, OG&E is moving in to save it, pending regulatory approval. OG&E CEO Sean Trauschke said the acquisitions help the company replace those PPAs set to expire in the next year.
In a longer piece, Talk Business & Politics’ writer Wesley Brown details OG&E’s long-term vision for its generation portfolio in Oklahoma and Arkansas. Click here to read the article.