ARKANSAS, USA — Southwestern Electric Power Co. (SWEPCO) of Shreveport has received regulatory approval to proceed with a “fuel-free power plan” and buy nearly a gigawatt of wind and solar generation to be built by Invenergy LLC of Chicago.
SWEPCO, which serves about 125,000 electricity customers in western Arkansas, will pay $2.2 billion under a settlement agreement approved Friday by the Louisiana Public Service Commission. The Arkansas Public Service Commission approved the purchases on June 1.
Terms for the 999 megawatts of renewable generation resources were reached in March, and will help meet projected demand while protecting customers from price volatility, SWEPCO said in a news release.
To read more about SWEPCO's approval, our content partner Arkansas Business has the full story here.
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