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Diverse Generation Resources to Support I&M Customer Reliability, Affordability

June 21, 2024

Indiana Michigan Power (I&M), an American Electric Power (Nasdaq: AEP) company, continues its commitment to developing reliable, clean energy to cost effectively power customers’ homes and businesses. I&M recently filed plans with state regulators for additional generation resources, including solar, wind and natural gas, which will play a key role ensuring I&M can meet its customers’ future energy needs. 

These projects, when combined with I&M’s existing resources, will provide an increasingly diversified and flexible mix of reliable resources to support customer demand into the future. Further, the transition to additional cleaner energy sources supports I&M’s and AEP’s target of achieving net zero carbon dioxide emission by 2045.

“I&M’s commitment to developing a robust, diverse energy portfolio highlights our focus to appropriately balance reliability, environmental sustainability and affordability while allowing us to best fulfill the needs of our customers,” said Steve Baker, I&M president and chief operating officer. 

Flexibility to Best Serve Customers

I&M is currently in the process of a major generation transformation. These proposed resources offer a significant opportunity for I&M to transition to a more diverse generation portfolio while replacing retiring generation.

Additionally, I&M’s Cook Nuclear Plant in Michigan serves as the anchor of the company’s energy resources, generating carbon-emission free energy 24/7. The variety of additional energy sources including solar, wind and natural gas will continue to strengthen I&M’s resilience.

Access to reliable and clean energy is important to supporting economic development opportunities in the communities I&M serves. Businesses and industries are increasingly looking for access to clean energy in areas where they locate or expand to meet their individual sustainability commitments in a safe and reliable manner. Increasing the availability of these forms of energy will benefit the retention and attraction of new investment and jobs to the region.

Plans Submitted to States

I&M has submitted detailed plans to the Indiana Utility Regulatory Commission (IURC) for additional generation sources detailed below:

Name

Fuel

Megawatts*

Homes Powered**

Elkhart County

Solar

100

30,000

Hoosier Line

Solar

180

54,000

Meadow Lake IV

Wind

100

30,000

Lawrenceburg***

Natural Gas

697

--

 

(*Energy generated when operating at full capacity)

(**The approximate number of typical homes using 1,000 kilowatt hours of energy per month that each plant would power when generating at capacity)

(***Lawrenceburg will serve as a capacity-only agreement, which enables I&M to buy capacity and not the energy produced)

I&M will purchase the power generated from the independently operated wind and solar power plants. Both solar generation plants will be built by private developers.

Meadow Lake IV is an existing wind power plant and is planned to be repowered.

Previously announced in 2022, the Elkhart County Solar Plant details have been updated for the 2024 filing, allowing the project to continue to benefit I&M customers.

Plans before the IURC would also provide I&M the ability to include 697 MW of generation capacity from an existing natural gas facility in Dearborn County, near Lawrenceburg, Ind.

I&M intends to submit plans for these projects with Michigan Public Service Commission (MPSC) in July.

I&M’s vision for the future is an integrated approach to developing resource solutions that provide reliability and further create a resilient electric power system. To determine how customer demand can be met, I&M develops a comprehensive Integrated Resource Plan (IRP) every three years in Indiana that evaluates future load requirements and how to fulfill those obligations. I&M’s 2021 IRP sought to balance the objectives of affordability, sustainability, reliability and resource diversification. 

If approved, these resources would complement I&M’s current clean-energy generation, which includes five solar power plants; wind power from four Hoosier plants; six hydro-electric plants; and the Cook Nuclear Plant. I&M also continues the development of two additional solar facilities, totaling 469MW, previously approved by both the IURC and MPSC. I&M’s coal-fueled plant in Rockport, Ind., will be fully retired in 2028. More than 85% of energy I&M generated in 2023 was carbon-emission free.

MEDIA CONTACT:  

Tracy Warner  

I&M Communications Manager

(260) 479-9484

tkwarner@aep.com  

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