FORT WAYNE, Ind. (AP) — Indiana Michigan Power will retire its entire Tanners Creek generating plant in Lawrenceburg by mid-2015 after agreeing earlier this year to stop burning coal there, the American Electric Power subsidiary said Tuesday.
The Fort Wayne-based utility said it is not financially feasible to refuel its last generating unit at the southeastern Indiana power station.
"Based on relatively flat electricity demand and the fact that our Indiana Michigan customers don't need additional generation at this time, we've determined that the cost of refueling Tanners Creek 4 is not the right capital investment," Nicholas K. Akins, AEP's president and chief executive officer, said in a news release.
Indiana Michigan Power announced two years ago that it would retire three of its four generating units at Tanners Creek by mid-2015. Then earlier this year, Columbus, Ohio-based AEP reached an agreement with the Environmental Protection Agency, eight states and several environmental groups to either refuel the fourth unit or retire it.