FERC approved OVECs
integration into PJM by order issued February 13, 2018, with integration expected to be effective as of June 1, 2018.
Financial restructuring at FES, or at any sponsor, could subject OVEC
to a revenue shortfall given that sponsors' responsibilities are several under the ICPA and the absence of a mechanism to remediate a revenue shortfall under the ICPA.
After reviewing more than 40 applications and interviewing multiple candidates, the OVEC
board has chosen Natalie Thompson as OVEC
's executive director.
owns and operates five 217-MW units at Kyger Creek in Gallia County, Ohio and six 217-MW units at Clifty Creek near Madison, Indiana.
The contractual obligation of the sponsors under the ICPA to purchase power and compensate OVEC
for operating and capital costs;
Nevertheless, UBS Securities said in a late October report it expects the PUC to approve the OVEC
PPA, as well as a PPA for at least the Conesville plant.
Funds will be used by OVEC
to complete environmental upgrades at its Clifty Creek Generating Station in Indiana.
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.
4 million, reflecting reduced purchases from OVEC
and the sale of the former Ohio service territory.
1 million, reflecting reduced purchases from OVEC
and decreased purchases from third parties to serve Maryland customers.