- Indiana Michigan Power (I&M), an AEP company, seeks approval to acquire an 870 MW natural gas plant in Oregon, Ohio.
- The acquisition is part of I&M's strategy to meet projected power demand growth from 2,800 MW in 2024 to over 7,000 MW by 2030.
- A decision from the Indiana Utility Regulatory Commission (IURC) is expected in early 2026.
Indiana Michigan Power (I&M), a subsidiary of American Electric Power (AEP, Financial), has filed a proposal with the Indiana Utility Regulatory Commission (IURC) to acquire the 870-megawatt Oregon Clean Energy Center, a natural gas facility located in Oregon, Ohio. This acquisition is an integral component of I&M's "Future Ready" plan, aimed at addressing the increasing energy demands projected to rise from 2,800 MW in 2024 to more than 7,000 MW by 2030.
The proposed acquisition is intended to provide a stable and reliable power source to meet both existing and future customer needs on a 24/7 operational basis. Presently, I&M operates a diverse portfolio comprising 2,278 MW of nuclear, 450 MW of wind, 22 MW of hydro, 35 MW of solar, and 1,497 MW of coal-fueled generation. In 2023, more than 85% of the energy delivered by I&M was emission-free, reflecting the company's commitment to sustainability and clean energy solutions.
I&M President and COO Steve Baker emphasized the strategic importance of acquiring the Oregon Clean Energy Center to further diversify the company's energy mix and support future growth. As part of its strategy, I&M plans to implement an "all of the above" approach, leveraging various energy resources to ensure affordability, reliability, and resilience in its service offerings.
The IURC's decision regarding the proposal is anticipated in early 2026. Meanwhile, I&M plans to make additional filings in alignment with its "Future Ready" plan to secure the necessary resources to meet future energy requirements.
