COLUMBUS, Ohio, March 23, 2015 /PRNewswire/ -- American Electric
Power (NYSE: AEP) today announced that it is has engaged Morgan
Stanley & Co. LLC to explore strategic alternatives for its
competitive barge transportation subsidiary, AEP River Operations
LLC. AEP River Operations is one of the largest U.S. inland marine
transportation companies providing transportation services for bulk
commodities, coal and liquids.
AEP is committed to completing its review of potential
alternatives for River Operations as promptly as practicable. There
are no assurances that any particular alternative will be pursued
or that any transaction will occur, or on what terms. The company
does not plan to release additional information about the status of
the review of alternatives until a definitive agreement is entered
into or the process is otherwise completed.
American Electric Power is one of the largest electric utilities
in the United States, delivering
electricity to more than 5.3 million customers in 11 states. AEP
ranks among the nation's largest generators of electricity, owning
nearly 38,000 megawatts of generating capacity in the U.S. AEP also
owns the nation's largest electricity transmission system, a more
than 40,000-mile network that includes more 765-kilovolt extra-high
voltage transmission lines than all other U.S. transmission systems
combined. AEP's transmission system directly or indirectly serves
about 10 percent of the electricity demand in the Eastern
Interconnection, the interconnected transmission system that covers
38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the
electricity demand in ERCOT, the transmission system that covers
much of Texas. AEP's utility units
operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West
Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky
Power, Public Service Company of Oklahoma, and Southwestern Electric Power
Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/aep-to-review-strategic-alternatives-for-its-competitive-barge-transportation-business-300054312.html
SOURCE American Electric Power