I&M Unveils $500 Million ProjectPosted: Updated:
Indiana Michigan Power Co. is pumping $500 million into improvements in the greater Fort Wayne area. The "Powering Up Northeast Indiana" initiative involves new and upgraded transmission lines and substations in several counties including Allen, DeKalb and Huntington. The utility expects the project to have a "minimal effect" on customer rates. I&M says construction has already begun and will likely take six to eight years. You can view details of the work by clicking here.
February 5, 2014
Fort Wayne, Ind. -- Indiana Michigan Power (I&M), an operating unit of American Electric Power (NYSE: AEP), plans to invest $500 million to upgrade northeast Indiana's electricity transmission infrastructure.
Powering Up Northeast Indiana includes projects that will help ensure the continued reliability of the transmission system, which is vital not only to our current customers but also to support the development of the area's economy. The availability of plentiful, reliable power at a comparatively low cost is crucial for business location and expansion.
"This investment demonstrates the long-term commitment I&M and AEP have to northeast Indiana," said Paul Chodak, I&M President and Chief Operating Officer. "Upgrading our transmission system is essential to ensure that we will continue to provide reliable power to households, businesses and industries in our area – not just tomorrow but far into the future."
Powering Up Northeast Indiana involves rebuilding and improving power lines, installing some new transmission lines, building and improving substations, and updating equipment. The project will strengthen transmission capability in and around Fort Wayne.
The work is part of a larger, regional upgrade effort by AEP. Transmission lines carry power over long distances, across multiple service territories and benefit customers in multiple states.
Most costs will be spread among a number of utilities and are expected to have minimal effect on I&M's rates.
As part of its good neighbor policy, I&M is engaging residents affected by the project, explaining the need, reviewing options and gathering their feedback. While programs like Powering Up Northeast Indiana are critical to the long-term reliability and safety of the area's electric system, we understand they can, at times, be inconvenient. Our employees will work to address concerns and offer responsible solutions.
Powering Up Northeast Indiana is a project of I&M in conjunction with AEP Indiana Michigan Transmission Co., a transmission-only company that finances, develops, constructs, owns and operates new transmission assets in the I&M service territory.
Area residents can view details of the project at www.IndianaMichiganPower.com/PoweringUp.
Indiana Michigan Power (I&M) is headquartered in Fort Wayne, and its 2,500 employees serve more than 582,000 customers. It operates 3,595 MW of coal-fired generation in Indiana, 2,110 MW of nuclear generation in Michigan and 22 MW of hydro generation in both states. The company also provides its customers 250 MW of purchased wind generation.
I&M is a unit of American Electric Power (NYSE: AEP), one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation's largest generators of electricity, owning nearly 39,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio.
Source: Indiana Michigan Power Co.