Oklahoma Gas and Electric announced it has wrapped up the acquisition of the AES Shady Point power plant near Poteau.
The Corporation Commission approved the purchase last week along with the Oklahoma Cogeneration LLC facility in Oklahoma City. The purchase of the two facilities cost OGE an estimated $53 million.
The Federal energy Regulatory Commission had previously okayed the two acquisitions, as did the Arkansas Public Service Commission.
“We are pleased to have achieved regulatory approval on all fronts and to have closed on the Shady Point acquisition. These transactions will save our customers tens of millions of dollars each year and keeping good paying jobs in Oklahoma,” said OG&E spokesman Brian Alford.
The Shady Point power plant will assist OGE in providing electrical service to customers in western Arkansas. They are among 852,000 OGE customers in Arkansas and Oklahoma.