American Electric Power and Liberty, an indirect subsidiary of Algonquin Power & Utilities Corp., filed a new application with the Federal Energy Regulatory Commission under section 203 of the Federal Power Act seeking approval of the sale of AEP‘s Kentucky operations to Liberty. The companies are asking FERC for expedited review of the application as they work to close the transaction by April 26, 2023. In December 2022, FERC denied approval of the sale without prejudice and outlined the additional information about customer protections needed to obtain approval. "AEP and Liberty are committed to the sale and are requesting FERC’s accelerated review of the application so customers in eastern Kentucky can begin benefiting from the transaction," said Julie Sloat, AEP president and chief executive officer. "In addition to the Kentucky sale, AEP remains focused on advancing the strategic initiatives we have outlined, including the sale of our competitive renewables portfolio and the strategic review of our retail business. These actions are consistent with the equity financing plan, operating earnings guidance and long-term growth rate of 6-7% announced at our analyst day last October."
Published first on TheFly
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