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AEP announced in August that it had agreed to purchase the Dresden plant through its AEP Generating Company subsidiary for approximately $85 million.
19 /PRNewswire-FirstCall/ -- Dominion announced today that it has sold its Dresden Energy electric generation facility to AEP Generating Company, a subsidiary of American Electric Power , for approximately $85 million.
When the transaction closes and construction is completed, Dresden will be owned by AEP Generating Company, a subsidiary of AEP, and will be operated as part of the company's generation pool that provides power to AEP's utility units serving customers in Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia and West Virginia.
The company owns and operates the 1,060 mw Big Sandy Plant at Louisa, Kentucky and has a long-term unit power agreement with affiliate AEP Generating Company to purchase 390 mw of capacity from the Rockport Plant.