AEP subsidiary to buy Louisiana cooperative
SHREVEPORT, LOUISIANA - A subsidiary of power generator American Electric Power plans to buy a Louisiana electric cooperative for $94 million in a deal expected to save the cooperative's members 20 percent a year on their electricity bills.
Southwestern Electric Power Co. said that the 30,000 members of Valley Electric Membership Corp. will receive $30 million for their stake in the cooperative should the deal be approved. Members likely will vote early next year to dissolve the cooperative.
The cooperative's members are located south of Shreveport. The deal will double the size of Southwestern Electric's geographic footprint in Louisiana and bring economic opportunities along Interstate 49.
The utility has nearly 500,000 customers in Louisiana, Texas and Arkansas.
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BC Hydro cryptic about crypto mining electricity use
VANCOUVER - In its Nov. 1, 2022 load update briefing note to senior executives of the Crown corporation, BC Hydro shows that the entire large industrial sector accounted for 6,591 gigawatt-hours during the period – one percent less than forecast in the service plan.
BC Hydro censored load statistics about crypto mining, coal mining and chemicals from the briefing note, which was obtained under the freedom of information law because it feared that disclosure would harm Crown corporation finances and third-party business interests.
Crypto mining requires high-powered computers to run and be cooled around the clock constantly. So much so that cabinet…
