More Coal Cuts—AEP, Mississippi Power Detail Closures
The post More Coal Cuts—AEP, Mississippi Power Detail Closures appeared first on POWER Magazine.
American Electric Power (AEP), which in 2019 reached an agreement to close Unit 1 of the two-unit, 2.6-GW coal-fired Rockport power plant in Indiana, has now announced a plan to close Unit 2 of the facility.
Both units at Rockport are now expected to be shuttered by year-end 2028. AEP, the parent of Indiana Michigan Power, which operates the plant, on April 22 announced it would purchase Unit 2 of the plant from Wilmington Trust Co., a financial services firm. The deal was made to ensure the retirement of both units.
Thursday’s announcement came as AEP announced its first-quarter 2021 earnings, which were $ 575 million, compared to $ 495 million for the same period in 2020. AEP, like many power generating companies, is retiring older power plants and replacing that generation with renewable energy resources. AEP has said its goal is to reduce carbon dioxide emissions by 80% from its 2000 baseline by 2030.…
