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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Hydro One extends ban on electricity disconnections until further notice
TORONTO - Ontario's primary electricity provider says it's extending a ban on disconnecting homes from the power grid until further notice.
Hydro One first issued the ban towards the beginning of the province's COVID-19 outbreak, saying customers needed to be able to rely on electricity while they were kept at home during the pandemic.
A spokesman for the utility says the ban was initially set to expire at the end of July, but has now been extended without a fixed end-date.
Hydro One says the move is necessary given the ongoing restrictions posed by the pandemic, as well as persistent hot weather across…
