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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| American Electric Power Company Inc | NYSE:AEP | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 81.73 | 0 | 01:00:00 |
From May 2019 to May 2024
Blackstone Group LP and ArcLight Capital Partners LLC are nearing a deal to buy four Midwest power plants from American Electric Power Co. for about $2.1 billion, according to people familiar with the matter.
The private-equity firms plan to acquire the coal-fired Gavin Power Plant in Cheshire, Ohio, and three natural-gas plants in Indiana and Ohio, the people said. The deal could be announced as soon as Tuesday, they added.
The deal comes amid a slump in wholesale electricity prices, in part because of a slide in natural-gas prices. That has put pressure on some independent power generators like the ones AEP is selling. Unlike regulated utilities, independent plants sell the power they generate at market rates.
Write to Matt Jarzemsky at matthew.jarzemsky@wsj.com
(END) Dow Jones Newswires
September 13, 2016 16:45 ET (20:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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