The combined entity will control 38,000MW of generation which equals about 5% of total U.S. capacity. The deal is valued at about $9.2 billion in stock and assumed debt. The value of the merger has fallen from $12.2 billion when it was first announced because AEP's stock has dropped from $52 to $28. FERC is requiring transfer of control of AEP's transmission system to a fully functioning, FERC approved regional transmission organization by December 15, 2001 (same dates for regional transmission organizations applicable to all transmission-owning utilities).The merger has received antitrust clearance from DOJ as well as the necessary state regulatory commission approvals. It is projected that the merger will result in at least $2 billion in savings over 10 years shared by customers (55%) and shareholders (45%).