AEP to cut more than 2,000 jobs
Spokeswoman Melissa McHenry says the utility, based in Columbus, Ohio, has given workers until the end of the month to make a decision. AEP says it will resort to layoffs if there are too few takers.
The economic downturn has hurt power providers because demand for electricity has slumped.
AEPs sales dropped 6 percent in 2009, including a decline of nearly 16 percent for industrial customers.
AEP employees learned of the buyout offer in a letter from CEO Michael Morris.
CEO Mike Morris has said the company sees a modest turnaround happening this year, but most economists predict any broad economic recovery will be slow.
That could affect hiring at industrial companies and also for power providers like AEP, which deliver electricity.
AEP is one of the nations largest power generators, with more than 5 million customers.
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Maritime Link almost a reality, as first power cable reaches Nova Scotia
HALIFAX - The longest sub-sea electricity cable in North America now connects Nova Scotia and Newfoundland and Labrador, according to the company behind the $1.7-billion Maritime Link project.
The first of the project's two high-voltage power transmission cables was anchored at Point Aconi, N.S., on Sunday.
The 170-kilometre long cable across the Cabot Strait will connect the power grids in the two provinces. The link will allow power to flow between the two provinces, and bring to Nova Scotia electricity generated by the massive Muskrat Falls hydroelectric project in Labrador.
Ultimately, the Maritime Link will help Nova Scotia reach the renewable energy…
