"DON'T GO BREAKIN MY HEART" kiki dee el john
Well as it seems AMP-OHIO seems to have one goal "Let's stick it to everyone"
Meigs County seems to be it's latest target.
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This story is from the Point Pleasant Register in WVA. The story was written by Beth Sergent
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COLUMBUS, Ohio — American Municipal Power has announced its abandoning plans to develop its Letart Falls site in Meigs County into a natural gas combined-cycle generation plant in favor of buying one in Fremont, Ohio.
In a press release issued Wednesday afternoon, AMP announced it has entered into a non-binding memorandum of understanding (MOU) with FirstEnergy Corp. (NYSE: FE) regarding the Fremont Energy Center, a 707 MW (fired) natural gas combined cycle generation plant currently under construction by FE and located predominantly in the City of Fremont. The Fremont Energy Center is owned by FirstEnergy subsidiary, FirstEnergy Generation Corp.
Perry Varnadoe, Meigs County Economic Development Director, said officials with AMP had contacted him by phone Wednesday afternoon about the decision. Varnadoe, along with many local officials and residents, vehemently supported AMP in its efforts to locate to the county for over the last five years.
“We are angry and stunned and feel they’ve (AMP) been a bit disingenuous in this process,” Varnadoe said. “It’s hard to believe they’re down here in late fall making an announcement and suddenly purchasing another facility and abandoning this project.”
The end of the AMP press release reads as follows: “In late 2010, AMP announced its intent to develop a natural gas combined cycle facility on land in Meigs County that was formerly the site for a proposed coal-fired facility known as the American Municipal Power Generating Station (AMPGS). Those plans have been suspended based on the new developments with the Fremont facility.”
When visiting with the Meigs County Chamber of Commerce last fall, officials from AMP spoke about the company’s plans to resurrect AMPGS into a natural gas fired power plant in Letart Falls. That plant’s estimated cost was $600-$700 million at the time, would’ve produced an estimated 500 construction jobs and 25-30 permanent operating jobs.
The press release goes on to say construction of the Fremont Energy Center is largely complete and the plant is expected to be commercially available by year end. Under the MOU, AMP and FirstEnergy have agreed to enter into exclusive negotiations toward AMP executing a definitive agreement by March 11, 2011, to purchase the facility from FE on or about July 1, 2011. The Fremont Energy Center was formerly owned by Calpine Corporation, which filed bankruptcy in 2005. Calpine subsequently suspended construction of the plant and it was auctioned in 2007.
AMP says it conducted considerable due diligence and bid on the facility at the time — with FirstEnergy ultimately having the winning bid. The release also said important to AMP members is the mitigation of construction and permitting risks by acquiring a facility that is largely complete.
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Seems it a risk being in the same room with these people , Meigs County believes they are disingenuous?
Remember Calpine Corporation bankrupt. First Energy doing something for a major competitor?
Can't wait to watch how they sell this to council?
We can tell them we will enter an MOU whatever that costs?
19 Comments:
COU? if we had any brains we would tell them FU!
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2:53 I haven't heard about this, but it sounds like I should look into it. I can only hope someone is pranking me.
Can we please have some "transparency" for the administration and council where the $2.7 million is going to come from.
Pretty interesting the families on Elm street cannot get decent water from a 100 year old pipeline for $1 million and yet Rita lead council into signing a contract with AMP that we now owe $2.7 million and got nothing. Not one one watt of energy.
If you're not outraged you're not paying attention!
As for that bucket truck....... Skeltonize it out and you will make more than $20,000.
Mad Potter
Yea, one more no-it all
Good for Meigs County! They can sell this property for more money since AMP is taking there bid off the table..
"AMP is taking their bid off the table"
What bid?
Nov. 4, 2009 AMP purchased 36 parcels of farmland for 11 million dollars in Meigs County.
Nov. 25, 2009 AMPGS was cancelled.
I'd comment that AMP-OHIO seems to have been disingenuous to a lot more people then we know?
Why worry it was someone elses money they were playing with. Our's....
Let me understand what I think your telling us. We will be asked to buy into this plant Fremont and whatever the price it will include the cost of Meigs County? Then we agreed to purchase electricity from AMP on a 15 million dollar contract? Also to find out Prarie State will soon be sending us power? What then?
A new twist AMP-OHIO has now sued Bechtel Corp. for $97 million.
Wonder who we can sue?
I managed to read the 97 million dollar suit against Bechtel by AMP-OHIO.
Willful,wanton,,reckless and/or grossly negligent.??????
Talk about the pot calling the kettle black.
I think there needs to be an investigation in AMP-OHIO and their business practices. Who regulates these entities?
And somehow we are going to pay a portion of their lawsuit...no matter who wins. If Bechtel wins...we have to pay a part of the settlement. If Amp wins we're still on the hook for a share of the development costs etc. I really think its time we cut our losses and get out of bed with Amp.
And nobody even mentions the landfill deal we got into with AMP. I forget the figure, but it's something like $10,000.00 a year for enough electricity to power one home.
Hey Mpotter, the 2.7 million will be paid out of the Electric Slush Fund. After they pay the 2.7 million and the $500,000.00 for the battery project,this fund will still have over $6,000,000.00! Your right, if they're going to over charge the Electric rate payer why not loan a million to fix the waterline. Nothing rattles the powers to be more than a request for transparency of Electric funds. You'd be suprised. Follow the money.
Yes, I think we are paying way too much for electricity. The bills are divided into two, so when that second part gets added on, which does not go down for high usage, you get gouged. All the while, they keep advertising cheap electric rates. I would love to see some transparency of electric funds. I'd be very interested in that.
to post 5:50 THE POWER FACTOR HAS A L O T OF MONEY TO BE MADE IN IT. ASK MR GREEN OFF THE RECORD. city employee 2.
Some have cheap electric rates, most don't. If the City had offered Lake East the rates they've given PC Airfoils we'd still have a hospital on Richmond instead of a pile of rubble. Follow the money.
I know they're gouging me, and I'm just a homeowner. I think that their advertising that we have low rates is hogwash. By the time you add the second part of your electric bill with the first (power cost factor, is it? - too lazy to get up and look), it is high.
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