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American Municipal Power Expands Strategic Partnership With The Energy Authority

Published on: 08/22/2011

TEA Partnership Will Maximize the Value of AMP’s Newly Acquired Fremont Energy Center

JACKSONVILLE, FL – American Municipal Power, Inc. (AMP) expanded its partnership with The Energy Authority (TEA®) following AMP’s July 28th $500 million acquisition of the Fremont Energy Center from FirstEnergy Generation Corp.

Based on the success of an initial 2009 partnership with The Energy Authority for RTO, power trading, and risk control services, AMP selected TEA for additional comprehensive risk management and natural gas supply services in support of the newly acquired 707 MW natural gas combined-cycle facility that will begin supplying power to participating AMP member communities early next year.

This expanded agreement further strengthens the strategic alignment between the two companies as AMP continues to focus on being public power’s leader in wholesale energy supply and TEA continues its focus on providing best practices in energy risk management services and interface with the wholesale energy market to public power.

“AMP’s expanded contract with The Energy Authority helps AMP manage wholesale energy market risk and strengthens our member power supply services to provide best practices. Our strategic partnership with TEA progressively ensures AMP’s ability to maximize the value of our current and future assets in the wholesale energy market, consistent with the risk tolerances of our members,” said AMP President and CEO, Marc S. Gerken.

“TEA’s partnership with AMP demonstrates the type of strategic relationship which TEA is continuing to develop to add value for both entities. By expanding TEA’s services to AMP, TEA is better able to help AMP provide their member communities with more predictable costs and reduced wholesale energy market risk,” said The Energy Authority’s President and CEO, Joanie C. Teofilo.

AMP is the Columbus, Ohio-based nonprofit wholesale power supplier and services provider for 129 members, which includes 128 municipal electric systems in Ohio, Pennsylvania, Michigan, Virginia, Kentucky, and West Virginia; as well as the Delaware Municipal Electric Corporation, a joint action agency. While power supply remains AMP’s primary mission, AMP offers a wide variety of additional services on a cooperative, nonprofit basis for the mutual benefit of all of its member communities. To learn more about AMP, visit www.amppartners.org.

The Energy Authority is public power’s strategic partner of choice for energy solutions. Through the provision of bilateral power, natural gas, and RTO trading; risk management; and power supply management services – TEA provides forward thinking energy solutions. TEA partners with over 45 public power utilities nationwide to optimize the value of their assets in wholesale energy markets, consistent with each utility’s unique risk tolerance. Established in 1997, TEA is headquartered in Jacksonville, Florida with offices in Seattle, Washington and Portland, Oregon.

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