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PG&E Corporation Message Board

  • mentges mentges Mar 15, 2000 7:49 PM Flag

    Feds approved AEP merger . . .

    this should be good for all utilities - maybe a DUKE PGE merger isn't that far off.

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    • 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%).

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