Oklahoma Gas & Electric, the utility subsidiary of OGE Energy Corp has announced that, pending regulatory approval, it will acquire two existing power plants to meet customers' energy needs. The plants will replace capacity currently provided by power purchase contracts set to expire in 2019.
The company announced it will acquire the Shady Point plant near Poteau, Oklahoma, and the Oklahoma Cogeneration plant in Oklahoma City. The Shady Point facility, currently owned by AES Corporation, is a 360 MW coal and natural gas-fired plant utilizing circulating fluidized bed boilers that produce lower emissions due to their design features and emissions controls. The Oklahoma Cogeneration facility, owned by Oklahoma Cogeneration LLC, is a 146 MW natural gas-fired combined-cycle plant. The company will pay approximately US$53 million for the two plants, which currently serve OG&E customers.
OG&E will seek pre-approval of the acquisitions from regulators in both Oklahoma and Arkansas.
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