The Empire District Electric Company Files Recovery Rider for Riverton 12 Combined Cycle Unit
July 21 2016 - 03:36PM
Business Wire
The Empire District Electric Company (NYSE:EDE) announced today
that it has filed a request with the Arkansas Public Service
Commission (APSC) to implement a cost recovery rider for the
conversion of the existing Riverton Unit 12 to combined cycle
operation.
With this filing, the APSC will establish a procedural schedule
to determine the timeline for the review and effective date of the
rider. If approved, the rider would result in an increase of
approximately $5.75 a month for residential Arkansas customers
using 1,000 kilowatt-hours of energy. Empire has approximately
4,400 customers in Arkansas.
The Riverton 12 Combined Cycle Unit replaces the production
capacity of recently retired coal-fired generators at Riverton. The
project was completed at a cost of $168 million. The conversion was
necessary to comply with new Mercury Air Toxics Standards (MATS)
mandated by the Environmental Protection Agency.
In making the announcement, Brad Beecher, president and CEO,
stated, "The Riverton Combined Cycle project was the most economic
option to replace the coal units at Riverton and comply with the
Mercury Air Toxics Standards. This new configuration captures the
exhaust heat from the existing natural gas unit and uses it to
power the new steam turbine. This highly efficient process will
help us hold down fuel costs for customers while lowering emissions
and protecting the environment.”
Based in Joplin, Missouri, The Empire District Electric Company
(NYSE: EDE) is an investor-owned, regulated utility providing
electric, natural gas (through its wholly owned subsidiary The
Empire District Gas Company), and water service, with approximately
218,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A
subsidiary of the Company also provides fiber optic services. For
more information regarding Empire, visit
www.empiredistrict.com.
Certain matters discussed in this press release are
“forward-looking statements” intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. Such statements address or may
address future plans, objectives, expectations and events or
conditions concerning various matters such as the pending
acquisition of Empire by Liberty Utilities (Central) Co. (Liberty
Central), a subsidiary of Algonquin Power & Utilities Corp.
(APUC) (the Merger), capital expenditures, earnings, pension and
other costs, competition, litigation, our construction program, our
generation plans, our financing plans, potential acquisitions, rate
and other regulatory matters, liquidity and capital resources and
accounting matters. Actual results in each case could differ
materially from those currently anticipated in such statements, by
reason of the factors noted in the Company’s filings with the SEC,
including the most recent Form 10-K and 10-Q.
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version on businesswire.com: http://www.businesswire.com/news/home/20160721006326/en/
The Empire District Electric CompanyMedia CommunicationsJulie Maus,
417-625-5101Director of Corporate
Communicationsjmaus@empiredistrict.comorInvestor RelationsDale Harrington,
417-625-4222Director of Investor
Relationsdharrington@empiredistrict.com
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