AEP River Operations is a commercial inland barge company delivering about 45 million tons of products annually, including 10 million tons of coal. AEP announced in March that the company was exploring strategic alternatives for AEP River Operations, including a potential sale. Upon close of the sale, ACL will acquire AEP River Operations by purchasing all the stock of AEP Resources, the parent company of AEP River Operations. AEP expects to net about $400 million in cash after taxes, debt retirement and transaction fees. AEP will retain ownership of its captive barge fleet that delivers coal to the company's regulated coal-fueled power plants owned by Appalachian Power, Kentucky Power and Indiana Michigan Power. AEP is still conducting an independent strategic evaluation of its competitive generation business. The jump in earnings reflected the sale of the company’s barge business, AEP River Operations, for $550 million to American Commercial Lines in October. Despite the weak fourth-quarter revenue, it was a good year for AEP, which reported a 25% increase in earnings from 2014 off of only slightly higher revenue.
Akins was confident that the company’s proposed power purchase agreement in Ohio, which would provide a guaranteed return for its embattled generating stations for eight years, would be approved by regulators, despite a recent call by independent power producers for FERC to void the deal. Akins cited the settlement AEP reached with Public Utilities Commission of Ohio staff and other stakeholders, including the Sierra Club. The sale of project cargo specialist AEP River Operations to American Commercial Lines, or ACL, has been completed.
Parent American Electric Power, or AEP, sold its commercial barge transportation subsidiary AEP River Operations to ACL for US$550 million.
The deal netted AEP about US$400 million in cash after taxes, debt retirement and transaction fees. AEP’s remaining captive barge fleet is employed to deliver coal to the regulated coal-fueled power plants owned by Appalachian Power, Kentucky Power and Indiana Michigan Power.


AEP River Operations is responsible for the delivery of about 45 million tons of products annually on a fleet comprising 56 towboats and 2,301 barges. Morgan Stanley was the advisor for AEP during the strategic evaluation of AEP River Operations. In addition to project cargoes, AEP River Operations offers barging options for grain, coal, steel, ores, liquids and other bulk products.
The company is headquartered in Chesterfield, Missouri, with operations in Paducah, Kentucky, and Convent, Algiers and Belle Chasse, Louisiana. AEP expects to record a net gain of about $125 million from the sale in the fourth quarter of 2015. Earnings from AEP’s vertically integrated utilities more than doubled in the fourth quarter and increased 26.7% year-over-year, reflecting positive rate cases and lower expenses. The company’s transmission business also contributed to the earnings increase, both in the fourth quarter and for the full year.
The Washington DC Metropolitan Area gets nearly 70% of its electricity from coal  (photo courtesy of AEP)AEP also will provide $36 million for environmental projects coordinated with the federal government and $24 million to the states that were parties to the agreement for environmental mitigation.
The $60 million in environmental projects are essentially court-ordered pork barrel spending. Maryland gets a Chesapeake Bay project, there's a truck stop electrification program, and of course, no environmental pork barrel program would be complete without hybrid vehicles.
Writing at the National Review in October 2003 Jonathan Alder covered the President's announcement of his new policy at Michigan's largest coal fired plant in Monroe. Now that some of the President Bush's NSR reforms are finalized, the replacement will proceed. Bush's hard America derailed Clinton's lawyer gravy train and implemented policies that will tangibly reduce air pollution. AEP is the target because most of their generating capacity is coal fired because it is the least expensive available fuel in their service territory.


Fortunately for the people of the Northeastern states that brought this lawsuit, hard America AEP forges ahead with investments in power lines to provide affordable electricity to their citizens. In September 2006, AEP announced plans to construct a major electric transmission line covering 550 miles from the Winfield West Virginia on the Ohio River to Central New Jersey. 765-kilovolt transmission tower bringing  abundant and affordable coal generated electricity to the Washington DC Metropolitan Area (photo courtesy of AEP)Designed to relieve critical congestion in the power grid and provide additional energy to states that do not have enough capacity to meet their own demand, like Maryland New Jersey, and the District of Columbia. The project was designated a National Interest Electric Transmission Corridor by the Department of Energy. This is the first transmission facility to seek this designation provided under the Energy Policy Act of 2005. It will allow several high pollution plants to be shutdown because of reduced energy loss in transmission. Amos Plant, a coal-fired plant in Winfield, West Virginia, has a generating capacity of 2,900 megawatts. It produces enough electrity to heat, light and air conditon the entire District of Columbia. Reflecting this is an essay at the Huffington Post written by Carl Pope a Sierra Club lobbyist. This case clearly demonstrates how ineffectual and counter-productive the Sierra Club-Clinton administration energy policies are. Perhaps the Sierra Club can light their palatial C Street Washington offices with candles and use kerosene heaters in the winter.




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