American Electric Power Co. Inc. will shut down both units at the 2,600-MW Rockport coal-fired plant in Indiana by the end of 2028 after regulators approved a settlement agreement with several parties, including consumer and environmental advocates.
AEP utility Indiana Michigan Power Co. and wholesale subsidiary AEP Generating Co. agreed to retire unit 2 of Rockport in Spencer County, Ind., “no later than December 31, 2028,” according to the order and settlement reached with a group of stakeholders including the Indiana Office of Utility Consumer Counselor, the I&M Industrial Group, Citizens Action Coalition of Indiana Inc., the Sierra Club and multiple municipalities.
The parties originally filed the settlement agreement Sept. 13 with the Indiana Regulatory Commission (IURC cause 45546) and sought an order on or before Dec. 15. Regulators approved the order Dec. 8.
In April, the AEP subsidiaries reached an agreement to acquire 100% of the interests in the 1,300-MW unit 2 at Rockport for $115.5 million from Wilmington Trust Co., according to a federal filing. The transaction is expected to close at the end of a lease agreement in December 2022.