Oklahoma Gas & Electric to acquire two power plants for $53 mln

U.S.-based electric utility company Oklahoma Gas & Electric (OG&E) is planning to acquire two power plants in Oklahoma and Arkansas for $53 million.

Oklahoma Gas & Electric intends to purchase the Shady Point power plant near Poteau in LeFlore County and the Oklahoma Cogeneration plant in western Oklahoma City with a pending acquisition approval from state regulators in Oklahoma and Arkansas.

The Shady Point plant, with 360 megawatts, is owned by U.S.-based electrical power company AES Corp. The Oklahoma plant is owned by Oklahoma Cogeneration LLC.

The Shady Point integration into OG&E’s system will change the way managers operate the plant, which will lead to lower power plant emissions. The acquisitions will replace capacity now supplied to OG&E under contracts set to expire next year.