I&M Files Proposal to Acquire Diverse Generation to Meet Future Energy Need

Core Points - Indiana Michigan Power (I&M) has filed for a certificate of public convenience and necessity (CPCN) to acquire the Oregon Clean Energy Center, an 870 MW natural gas plant in Oregon, Ohio [1][2] - The acquisition is part of I&M's Future Ready plan, aimed at ensuring reliable and affordable energy for customers [3][4] - I&M anticipates a significant increase in power demand, projecting growth from approximately 2,800 MW in 2024 to over 7,000 MW by 2030, highlighting the need for additional generation capacity [4][5] Company Overview - I&M serves over 600,000 customers and has a diverse generation portfolio, including nuclear, wind, solar, coal, and hydroelectric resources [8] - In 2023, more than 85% of the energy delivered by I&M was emission-free, showcasing the company's commitment to sustainable energy [8] - The company is part of American Electric Power (AEP), which plans to invest $54 billion from 2025 to 2029 to enhance service and meet growing energy needs [9]