The contractual obligation of the sponsors under the ICPA to purchase power and compensate OVEC
for operating and capital costs;
Osborne will be responsible for all OVEC
activities, including operation of 2,390 megawatts of coal-fueled generating capacity at Clifty Creek Station in Madison, Indiana, and Kyger Creek Station in Cheshire, Ohio; 705 circuit miles of 345-kilovolt transmission lines; and the corporation's environmental and financial activities.
Funds will be used by OVEC
to complete environmental upgrades at its Clifty Creek Generating Station in Indiana.
In its order, the PUCO denied the company's specific OVEC
proposal, but created a placeholder for the PSR that allows Duke Energy Ohio to submit additional information in an effort to request recovery in the future.
extended the maturity of its $225 million revolving line of credit to 2015.
Consequently, the ratios used under the 'corporate rating methodology' are not relevant to assess credit strength of OVEC
Key factors contributing to the decrease in earnings were lower market prices for power, including hedges and market-based contracts, higher coal costs and the previously mentioned OVEC
gain and Hunlock Creek transactions recorded in the first quarter of 2006.
Peifer will be responsible for all OVEC
activities including operation of 2,386 megawatts of coal-fired generating capacity at Clifty Creek Station in Madison, Ind.
2 million, reflecting better power plant performance, higher generation rates in Pennsylvania and the expiration of a below-market contract, partially offset by lower market prices and the expiration of the OVEC
The decrease in revenues was primarily due to lower market prices, the expiration of the OVEC
agreement and the Harrison transformer failure.
These benefits were partly offset by lower market prices and the expiration of the OVEC
The increase was largely a result of the OVEC