Indiana Michigan Power (I&M), an American Electric Power company, is taking another step to deliver reliable and affordable energy to meet the needs of its customers today and in the future. The Indiana Utility Regulatory Commission (IURC) approved the agreement between I&M, Indiana Office of Utility Consumer Counselor (OUCC), and consumer groups to acquire the Oregon Clean Energy Center, an existing 870 megawatt (MW) natural gas plant located in Oregon, Ohio.
The acquisition of the Oregon Clean Energy Center and its 870 MW of natural gas-fueled electric generation is one component of I&M’s Future Ready plan, which outlines a comprehensive strategy to serve customers in a cost-effective, reliable manner as the demand for energy increases.
With today's IURC order, and the approval received by the Federal Energy Regulatory Commission (FERC) in October, I&M now has secured the necessary regulatory approvals to complete the acquisition of the Oregon facility. Over the next few months, I&M will work with the current owners of the Oregon facility to transfer ownership and operations of the facility in a safe and efficient manner. I&M expects to take ownership of the Oregon facility in March 2026.
“The Oregon Clean Energy Center is an important opportunity to further diversify I&M’s current generation portfolio, acquire dependable generation, and position us for future growth to the benefit of all our customers,” said Steve Baker, I&M president and chief operating officer.
I&M is currently navigating an unprecedented time in its history. As the company looks ahead, power demand is expected to more than double the Indiana peak from approximately 2,800 MW in 2024 to more than 7,000 MW in the 2030 timeframe. The rapid growth in energy demand provides an opportunity for I&M to reshape the way it serves current customers and those the company will serve decades into the future.
The Oregon facility will provide a stable source of power to meet the continuous operational requirements of our existing customers and new customers coming on to the I&M system. I&M's current generation portfolio incorporates a diverse mix of resources, including solar, wind, nuclear, coal and hydroelectric units. The company's vision for the future is to implement a comprehensive approach to providing a reliable, resilient, and stable electric power system that customers can access affordably.
"Demand is growing and we're planning for it, not waiting for it," Baker said. "We're forecasting this growth and investing now in the generation and infrastructure needed to meet it. Our long-term planning strategy means we stay ahead of demand rather than reacting to it. This approach leads to more price stability and reliability for all of I&M's customers."
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La sede de Indiana Michigan Power (I&M) se encuentra en Fort Wayne, y sus, aproximadamente, 2,000 empleados prestan servicios a más de 600,000 clientes. Más del 85% de la energía eléctrica que proporcionó en 2024 fue libre de emisiones. I&M tiene a su disposición diversas fuentes de generación, lo que incluye 2,278 MW de generación de energía nuclear en Michigan, 450 MW de generación de energía eólica comprada de Indiana, más de 22 MW de generación de energía hidráulica en los dos estados y, aproximadamente, 35 MW de generación de energía solar a gran escala en los dos estados. The company's generation portfolio also includes 1,497 MW of coal-fueled generation.
American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power. We expect to invest $72 billion from 2026 through 2030 to enhance service for customers and support the growing energy needs of our communities. Our nearly 17,000 employees operate and maintain the nation's largest electric transmission system with 40,000 line miles, along with more than 252,000 miles of distribution lines to deliver energy to 5.6 million customers in 11 states. AEP also is one of the nation's largest electricity producers with approximately 30,000 megawatts of diverse owned and contracted generating capacity. We are focused on safety and operational excellence, creating value for our stakeholders and bringing opportunity to our service territory through economic development and community engagement. Our family of companies includes AEP Ohio, AEP Texas, Appalachian Power (in Virginia, West Virginia and Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP también es propietaria de AEP Energy, que brinda soluciones energéticas competitivas e innovadoras en todo el país. AEP is headquartered in Columbus, Ohio. For more information, visit aep.com.