AEP subsidiary to buy Louisiana cooperative
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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Opp Leader calls for electricity market overhaul to favor consumers over generators
MELBOURNE - Australia's Labor leader Bill Shorten has called for significant changes to the rules governing the national electricity market, saying they are biased in favour of big energy generators to the detriment of households.
He said the national electricity market (NEM) rules are designed to help the big companies recoup the money they spent on purchasing government assets, rather than encourage households to generate their own power, and they need to change faster to adapt to consumer needs.
His comments hint at a possible overhaul of the NEM’s governance structure under a future Labor government, because the current rule-making process is…
