Press release
AES Shady Point has been notified by OGE they will not exercise their option to renew the remaining years of the existing Power Purchase Agreement (PPA).
“We are extremely disappointed to not have the PPA renewed by OGE. said Lundy Kiger, of AES.
“For the past 28 years we have been a valued supporter and contributor to the people, communities, businesses and economy of South East Oklahoma. Our hope was to continue to be a significant part of the local area and economy into the future, but we will likely be forced to shut down the AES Shady Point facility on January 15, 2019.”
Kiger also stated, “In light of AES Shady Point learning the electric contract with OGE being terminated. AES Shady Point will participate in an upcoming OGE Request For Proposals (RFP) that OGE will issue soon for new electric capacity needed.
AES Shady Point will work to put together a proposal to have an opportunity to win the OGE RFP and for the plant to continue operations.
Outside of winning the OGE RFP, it will be difficult for AES Shady Point as an independent power producer to compete in the SPP Market, and would likely face closing the plant on January 15, 2019.
AES Shady Point will continue to look diligently at all possible options available to us now, but we realize those options are limited outside of being successful in the upcoming OGE RFP.”
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