American Electric Power (AEP) is to explore options to divest its barge transportation subsidiary, AEP River Operations, the company said in a press release.
AEP River Operations is one of the largest US inland marine transportation companies providing transportation services for the coal industry, among others.
Morgan Stanley has been hired to conduct the review of potential future options for the transportation company, which primarily serves AEP’s unregulated power plants in Ohio, as well as other customers. AEP River Operations currently has more than 2200 barges and emploes over 1000 people.
Unregulated power plants sell electricity on the open market, while regulated plants have their prices and profits set by state regulators.
Written by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/handling/24032015/aep-explores-options-for-barge-transportation-subsidiary-coal2104/