Yesterday, Appalachian Power Company was denied approval of a request to enter into a contract to purchase wind power from 3 Wind Turbine Production Facilities, two (2) in Illinois and one in Greenbrier, Co., West Virginia, for resale in Virginia. The board stated that APCO was already meeting the state's voluntary targets for renewable energy and Virginia consumers have already weathered a 50% increase in rates over the past 3 years. You'll find more @ http://www.roanoke.com/news/roanoke/wb/249145
Although APCO, a subsidiary of American Electric Power, may have and pursue a right of appeal of the decision, they will likely honor their contracts with Invenergy, PLC and seek additional revenues in other states. The deeper story is in the continuing struggle/collaboration between ineffective goverment regulation and big profit-motivated industry.
Is American Electric Power Co. too big to fail as well?
As a good old friend reminds me,"track the money."
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