Stakeholder Update - April 22, 2021
I&M would like IRP stakeholders to be aware of the plans announced by AEP on April 22, 2021 to add more than 16,500 MWs of renewable energy across AEP’s service area by 2030 (see below). I&M intends to engage stakeholders in the current IRP process to assist in the evaluation of the plan for I&M. AEP also announced that I&M and AEP Generating Company have agreed to acquire Rockport Unit 2 as a capacity resource to help bridge I&M’s capacity needs as I&M continues its orderly transition to more renewable resources. I&M expects the inclusion of Rockport 2 in I&M’s generation portfolio used to serve customers will be reviewed with state commissions and stakeholders in filings before the commissions and as part of the IRP process. The Rockport 2 agreement was reached after I&M decided to not renew the lease and began confidential discussions with the owners about how the unit would be operated after the lease ended. As those discussions progressed, I&M recognized that it would be beneficial to all concerned if I&M controlled the unit after the lease expired. The generation changes at AEP will help grow renewable generation to 51 percent of AEP’s total capacity by 2030, as the company works to achieve its goal of net zero carbon emissions by 2050.