Oklahoma Gas & Electric to purchase 2 power plants for $53M

The Associated Press and The Journal Record - December 22, 2018 9:53 am

(Information from: The Journal Record, http://www.journalrecord.com)
OKLAHOMA CITY (AP) – Oklahoma’s largest electric utility says its plan to spend $53 million to buy two power plants will save customers money and lower power plant emissions.
The Journal Record reports that Oklahoma Gas & Electric announced a plan Thursday to acquire the Shady Point power plant near Poteau and the Oklahoma Cogeneration plant in Oklahoma City.
The acquisitions are pending approval from state regulators in Oklahoma and Arkansas, but they would replace capacity supplied to OG&E under contracts set to expire next year.
OG&E says the deal will save customers up to $50 million a year and reduce coal use at Shady Point by more than 50 percent.
The Shady Point plant is fueled with coal and natural gas, and is owned by Virginia-based AES Corporation. The cogeneration plant is owned by Oklahoma Cogeneration LLC.

 

Latest Stories

Rising Construction Costs Could Impact Your Homeowners Insurance

By Oklahoma Insurance Commissioner Glen Mulready   If you recently started a home improvement project, you probably have noticed the...

Sen. Kay Floyd to study OSBI’s response to sexual assaults

OKLAHOMA CITY – Oklahoma’s sexual assault and rape kit backlog is continuing to pile up, and...

Police: Suspect targeting older Oklahomans with latest scam

OKLAHOMA CITY (KFOR) – Oklahoma City police say they are warning older Oklahomans about a scam...